Frank Swain Expects Any Stimulus Changes to Happen Quickly

02/20/2010

President Obama’s stimulus measures are spurring some promising small businesses to begin borrowing again, despite the recession, the Indianapolis Business Journal reported in its story, "A Big Jolt for Small Business? Obama's Stimulus Aimed at Boosting Availability of Loans."

National politics will help determine whether the budding trend accelerates or stalls, the story reported.

"The president has announced a very exciting series of initiatives. That's the good news," Frank Swain of Baker & Daniels told the IBJ from his Washington, D.C., office. "The asterisk to bear in mind is, nearly everything the president has proposed will require legislation."

Swain said local entrepreneurs should keep their lenders' phone numbers handy to track the changing landscape for small-business incentives.

"Chances are that many, if not all, the changes will be made pretty quickly," Swain, who served as the SBA’s chief counsel for advocacy before joining Baker & Daniels, told the IBJ. "If somebody desperately needs help today, they have to deal with current program rules. But in a month, the rules could be changed."