Obama To Increase Loans, Credit To Small Businesses
After an immense financial bailout for big banks on Wall Street, small businesses will finally get the stimulus they’ve been asking for, said President Obama in a speech last week.
The announcement, made at Landover, Maryland-based Metropolitan Archives, a family-owned paper records storage company, discussed the administration’s initiative to stimulate the economy by increasing loan access to small businesses. The president said he hopes to accomplish this by increasing the size of Small Business Administration loans and boosting credit to community banks – “winding down” the Troubled Asset Relief Assistance (TARP) to major banks and funneling those resources to small businesses. Read full story:
