Monday, March 16, 2009

Obama's Stimulus Package- What Does It Mean For Single Moms

There have always been grants and other types of financial assistance for single moms. With President Barack Obama's new stimulus package, more and more people are starting to look at grants as an alternative means for raising capital for going to school, starting up a business, or even paying basic living expenses.

Today, President Obama released a statement about what the stimulus package is going to do for small businesses. The Stimulus package calls for the Treasury Department to buy up $15 Billion dollars in securities in an effort to free up money for the SBA to make more small business loans.

The plan also includes a temporary elimination of upfront fees for certain types of SBA loans, and also includes more tax relief for small business. President Obama's Stimulus package is based on small businesses being the backbone of the American economy.

Historically, SBA loans, like government grants, have never been applied for by 90% of U.S. businesses. The process is complicated and many small business owners lack the resources for creating a proper business plan or apply for a grant, but new software programs have made it easier to create business plans and apply for grants.

15 comments:

  1. I have been a single parent for the last 13 years. I have put myself through an undergraduate and a graduate progam. I have outstanding balances of approximatley $25,000. One loan is at 2% interest and the other at 8%. I can not consolidate loans at this time becaseu of the economy. That leaves me paying 2 payments every month, very difficult to handle with one income. What is out there for me and my children that will assist in paying back the loans?

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  2. I am also a single mom of 2 and have managed, through the grace of God, determination, Pell Grants and Student loans, to make it through college with a B.S. I am pretty far in debt and have barely been able to make minimum payments on credit cards and students loans. I don't know what to do. Because of the economy I can not find a job in Waco, TX or nearby surrounding areas, that pays more than $10.00 per hour. That's a joke to think that a single mom of 2 can live off of that! I am receiving no public assistance but looking like I'm going to be needing in the very near future if something doesn't change. Please help. Any advice is greatly appreciated.

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  3. Interest Rates on Federal Education Loans dropped to a historic low for Federal loans that were originated before July 1, 2006 that have variable rates. Visit http://www.loanconsolidation.ed.gov/ This started as of July 1st, 2009.

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  4. I am a single mom of two and trying to finish my last six months of schooling. This is my clinicals and intership for a Medical Assistant. I live with my parents who have co-singed for my loans and have helped me out tremendously. Now, my Dad has lost his job of 20 years and I need help to finish college. There are hardly any jobs here in Michigan. My books and tution in taken care of but I need living expenses. My parents cannot co-sign any more and I am inbetween a rock and a hard place. I have used up the pell grant--I just need living expenses because I cannot work during clinicals and intership. Is there any help out there. Melissa

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  5. I AM A SINGLE MOM OF 1 DUE TO INCARSERATION AND FINES I CANT FIND EMPLOYMENT AND ITZ HARD I MAKE IT THROUGH THE GRACE OF GOD BUT I STILL NEED HELP

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  6. The first thing I would suggest to anyone who is looking for extra money, is to get on the freelance sites and start looking for freelance work.
    The best ones are elance.com, guru.com and getafreelancer.com. If nothing else, as long as you can write (and spell) semi-intelligently you should be able to pick up some extra money.
    There are also two forums where you can make a little cash for services for like writing, website design and graphics. They are www.warriorforum.com and www.forums.digitalpoint.com. Read the rules, become an active member, then offer services in the appropriate sections.
    Grants can help, but in most cases you need to be able to write a grant proposal to get them.

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  7. Cash Making Opportunities - The Beginning The working life is already tough enough, but the worries of being out of work was even tougher. The unsecured working environment have prompted me to search the internet for an alternative source of extra income so that I could learn how to Make Money Work for me and be Financially Independent. I listed down a number of Free Internet Business Opportunity Ideas while researching ways how people earn money online while working-from-home.......


    www.onlineuniversalwork.com

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  8. I am a single mom of four trying to get one child back had to leave school in order to get a job. Jobs in East Tennessee are few and far between. I now have over $6,000 dollars in student loan debts and another $5,000 in federal VA loans. I am still looking for work and am on the fast road to homelessness. I have tried many options to relieve my situation with no success. I want very much to finish my degree but have no way to do so until debt is paid off. I am worried what all this will mean for my children and myself in the very near future. Any help that can be given would be welcomed relief for me and all mothers in simular situations.

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  9. Dear Joy,
    I am a hispanic us citizen single mother, I am in the proces of moving from my country to Fort Walton Beach, Fl.
    I am a certified early child hood educator. I would like to know if there is any agency that could walk me through the process about how to apply for benefits that I may qualified such us food stamps, help looking or getting a job, car, health insurance for my child who is also a legal residence ,etc.
    Thank you for your assistant,

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  10. I have been searching for over a year to find help with going back to college and still haven't found it. I acquired $19,000 in student loans last year and that was with the Pell Grants. I am not going to be able to afford to pay these back if I don't get a better job once I finish this degree. I would love to find some scholarships or government money that I can use to apply to these loans or at least help with this years expenses. There are so many websites out there that are just bs. Does anyone know where the official website is to sign up for help for Single Moms?

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  11. I'm a single mom of two and lost my business in August of 2009 due to the recession. I've not been able to find a job since, being unemployed for over a year. We get food stamps and medical care for my kids. My mortgage is on moratorium and I'm guessing when it's finally over I won't be able to afford the mortgage anymore and may lose my house. My car is about to give up the ghost and I went through my savings many months ago. I would like to go back to college, but need income to pay my bills. Is there any help out there for single moms to help pay for living expenses while going to school? I qualify for pell grants but can't find a job to pay the bills, and worry that if I do find a job, I will have no energy left for classes. Any advice? Thanks.

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  12. im a single parent that have gotten the limits in student loans that i can received. all im entitle to is the pell grants, and that just not enough is there anyone out there that i can talked to about changing the limit the undergraduate can received.

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  13. Thousands of single moms across the country are in financial need due to loss of job, foreclosure of their homes, divorce, etc. Yes there is help available out there in the form of housing aid from HUD, food stamps program in every state & college grants. Check http://www.financialhelpsinglemother.com for lots more information on these financial aid available. Good luck with your search.

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  14. Hi, how can I get help for a grant business start up, I live in keansburg nj area, where we had sandy storm flood.and I had seen and hear how fast SBA help business get there back up money what they lost, I'm the one of victims almost lost my apartment. the problem is my closer friends live 5 blocks away from me.and had there own home and a garage, was flooded out.now my friends plan to move out of town. I have no place to go. I was offer to use there space free, because I had no income.to afford a workshop of my own.to do my projects. What way can someone out there able to help me? Where do I go from here, for help too. God bless for your time.

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  15. Hi, how can I get help for a grant business start up, I live in keansburg nj area, where we had sandy storm flood.and I had seen and hear how fast SBA help business get there back up money what they lost, I'm the one of victims almost lost my apartment. the problem is my closer friends live 5 blocks away from me.and had there own home and a garage, was flooded out.now my friends plan to move out of town. I have no place to go. I was offer to use there space free, because I had no income.to afford a workshop of my own.to do my projects. What way can someone out there able to help me? Where do I go from here, for help too. God bless for your time.albinamackey@yahoo.com

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