Business owners skeptical of President's plans to help - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Business owners skeptical of President's plans to help

By Chuck Weber

GREENACRES, FL (WFLX)-In his State of the Union address, President Barack Obama proposed help for small businesses. His initiatives include loans, and tax credits for hiring and investing in equipment.

But Lisa Boddy, of A Affordable Printing in Greenacres, said when she tried to get a loan from the Small Business Administration, she had to show two years of profits. She said if she had profits, she wouldn't need a loan.

That's why Boddy and other business owners are skeptical of the new plans. "I'm just not seeing it," said Boddy. "It's very easy to go out there and say (you'll help small businesses). But who's getting it? It is very frustrating."

Lynne Kalogeropoulos, co-owner of Elizabeth L. Charles Bridals, also in Greenacres, said she thought the President's was optimistic and positive.

But would the small business proposals help her? "They don't really help me," said Kalogeropoulos. "I can't afford to buy any more equipment. The best thing that would help me would be people getting money in their pockets, to then turn around and start spending."

Experts in the financial community acknowledge credit is tight right now, and they say even for government loans, recipients must be credit-worthy and meet standards.

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