A Plan To Help Small Businesses Without TARP Money

May 19, 2010
President Obama and several members of Congress are drafting legislation for a new, $30 billion plan to loosen credit for small businesses.

According to CNNMoney.com staff writer Catherine Clifford, “President Obama’s plan, which the House Financial Services Committee is scheduled to explore at a hearing on Tuesday, calls for an ultracheap pool of Treasury capital that small banks can tap to boost their small-business lending.

“The program would only be available to banks with assets of less than $10 billion — ruling out the megabanks that have drawn fire for putting their own interests before their customers.”

To read the full story go to: A TARP-free revamp for $30 billion lending plan