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While the reported calls for a small-business recovery plan were finally heeded last month by the Obama administration, in the aftermath, some financial analysts are asking this interesting question: who needs the federal government’s money anyway?

While the government stalled and stalled in getting relief to small businesses – they came nearly a year after the big Wall Street bailouts – the private sector has been noticeably more vigilant in the last few months in extending a lifeline to small businesses.

Entrepreneur’s Daily Dose blog have stirred this debate after it reported that Chase Bank have said they will loan a cool $4billion dollars to American small businesses. This will go alongside their 4 new small business credit cards which feature interest rates of up to 30%. Warren Buffet and Goldman Sachs have also invested $500million on Community Development Financial Institutions for small-business lending. We know Buffet values the franchising sector. His company Berkshire Hathaway own Dairy Queen, after all.

Now it is still increasingly difficult for small businesses to get money from banks. But there is certain irony here that some of the bailed-out financial institutions are coming to the aid of franchises and small-businesses. But I don’t think anyone is complaining. It is still difficult to access essential capital but it is exciting to see banks prioritizing small businesses.

As the success of franchising has shown over the years, true advances in the business world come from the private sector, not the public zone. There’s a lively debate taking place on the Daily Dose blog on whether franchises and small businesses really need the President’s small business relief. I don’t think anyone will say no to it, but the investment pledges of Chase and others should be celebrated as much, and possibly more than the promises of the federal government.