The Treasury Dept. held a forum on Thursday to address how the economy has affected small business. Specifically, the forum addressed how to help small businesses weather the bad economy. ABC News reports that an Obama administration focused on how to increase small business access to financing.

In fact, the press release about the forum from the Treasury Dept. details what Treasury Secretary Timothy Geithner wanted to convey, stating: "Small businesses, in particular, are still facing a very challenging credit environment." This is very true with small business lenders like CIT Group and Advanta  filing for bankruptcy in recent news. Geithner wanted to give small business owners some hope about how to get financing.

Goldman Sachs and Warren Buffett are working together in order help small businesses gain access to capital. The partnership also provides small business owners with college scholarships. Goldman Sachs will provide the monetary resources. Warren Buffett is not planning to use any of his own money towards the program. He plans on mentoring small business owners.

ABC News reports that the company will contribute $200 million dollars to a project called 10,000 Small Businesses which will help small business owners get a higher education through grants.

An additional $300 million dollars will be given to small businesses though a blend of lending and charitable support. Goldman Sachs executives will also mentor small business owners with advice, technical help, and through networking.

News has been pretty dismal on the lending front of small business. With the news of bankruptcy filings of CIT Group and Advanta, it seems like there are little if any options for small business financing.

But the NYT is reporting that smaller local banks are moving in to fill that void. With charming slogans such as "Policies to serve your street, not Wall Street," these banks are aiming to keep your business on Main Street alive.

Perhaps turning to the local bank on your street for your small business may not be such a bad idea. A small bank may be more likely to provide stability in today's more somber economy. The Federal Deposit Insurance Corporation (FDIC) thinks that small banks are the best capitalized in the industry right now. That means they have the adequate cash on hand to absorb loan defaults.

A statement released today by the American Small Business League criticizes the President's first year policies for small business.

The statement details how Obama made key promises for small business, but failed to live up to those promises. The statement does bring up valid points that every small business owner should be aware of.

Here are the key needs listed in the League's press release:

Help is on the way for small business, according to President Obama.  In a speech delivered at a small business in Landon, Maryland this week, the President outlined new initiatives for small business to ease up lending and to make critical capital available at affordable rates.

Here are a few notable points President Obama mentioned in his speech:

Grants from the Program for Investment in Microentrepreneurs Act (PRIME) -- a program of the U.S. Small Business Administration-- were awarded to 58 non-profit organizations this week.  PRIME grants were created to support low-income entrepreneurs and very low-income entrepreneurs in receiving training and technical assistance to launch, operate, and expand their ventures.

The SBA received over 400 submissions in the non-competitive application process which was open to microentrepreneurs in the U.S. as well as in U.S. territories.  A microentrepreneur is identified as a small business with five or fewer employees and businesses owned by low-income individuals.

As small businesses look to the SBA for guarantees on loans and other assistance in plowing through an intimidating economy, they want to know---what effect has the recession had on SBA's small business loan approval?

With the new fiscal year underway as of October 1st 2009, stats for the past fiscal year are in.  And the grades are decidedly mixed for the Small Business Administration (SBA) when it comes to loan approval.  While overall indicators showed a major drop in total number of SBA loan approvals, a closer look shows significant improvement throughout year leading into the new Q1. 

Planned giving, bequests, deferred giving, legacy gifts.  They are all terms to describe the mode of donating through estate-planning vehicles such as trusts and wills.  And during the current economic slowdown when a non-profit organization's donors may be reluctant to submit regular donations, instead of closing shop a charitable organization may want to establish a planned giving program to allow donors to leave a legacy of supporting a cause. 

Here are some things your non-profit organization should know about planned giving:

The SEC has been getting down to business this week, and it could mean a whole new fall wardrobe line for Wall Street.  In striving for transparency, the SEC voted to require credit agencies to disclose more ratings history and to require banks to reveal data used to rate financial products to all credit agencies.  And the rules promise to affect businesses big and small who either invest in companies or, themselves, are the subjects of investment.

Mary Schapiro, head of the SEC, reiterated the need for increased transparency, in stating that investors often rely on ratings in making investment decisions, and for that very reason, the increased regulation of the rating agency industry is needed.