Federal funds coming out of the stimulus plan are meant to help small businesses, but some shop owners in Lubbock are still waiting to find out if and when they'll see any of those dollars. The U.S. Small Business Administration is getting $750 million to hand out to lenders. When and how much will come into West Texas is still up in the air. Greg Davis with DFC Cycles is doubtful that small business owners like himself will receive money from the government to expand. The SBA says they're working right now to make a positive impact on home-owned businesses.
"We hope that this loosens up the credit. Banks start lending, small businesses can expand, people who want to get into business can get into business, so we think it's going to have a positive effect in Northwest Texas," says SBA District Director Herb Johnston.
The Small Business Administration will hand out money to local banks and lenders in the coming weeks.