Federal loans more accessible to small businesses

Small Long Island businesses that depend on foot traffic have been hit hard this summer with poor weather in a dismal economy, but they may now have some relief.

As part of the American Recovery and Investment Act, the federal government will be increasing the pool of investment funding to make loans more available to small businesses.

According to Martin Cantor, Director of the Long Island Economic and Social Policy Institute at Dowling College, it could still be difficult for many businesses to borrow if they have poor credit.

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