In response to the current global credit crisis. The Virginia Small Business Financing Authority is taking action.

In a statement released by Govenor Kaine the VSBA is now prepared to provide assistance to banks that restructure existing loans to qualifying businesses.

All this... In an effort to preserve Virginia Jobs. The assistance will come in the form of guaranties or portfolio insurance.

Scott Parsons, the Director of the Virginia Small Business Financing Authority outlined their initiative. ""Our action and the govenor's action is really to try to offer up on a proactive basis any help we might be able to give in order to make it easier for them to lend."

For more information on the program visit the link below.