Finally a President that gets it. When I see the words coming out of his mouth, I can’t believe it. He is the entrepreneur’s president. We need the capital to grow businesses. We can’t do it without the credit lines. Obama gets it! He understands the role of small business.

The Small Business Administration will now guarantee loans up to 90 percent and waive some fees for small business owners. He is also trying to thaw the secondary credit markets. Small business owners will be able to borrow up to $2M.

Other provisions:

Write off up to $250,000 in investments this year with larger depreciation deductions for the first year of property purchases. It also states that 75 percent of capital gains will excluded for those who invest in small businesses (but unsure what this means yet).

It’s a long journey from Obama’s mouth to the banker’s pen. I will believe it when I see the money make its way from Obama’s lips to the loans from banks.

What do you think of the President’s plan?