Obama Admin Considering TARP $ for Small Business
The U.S. Treasury is contemplating using Troubled Assets Relief Program (TARP) funds to increase Small Business Administration (SBA) loans for small businesses affected by the recession. Of the $127 billion left, the SBA has authority in 2009 to grant $17.5 billion in small-business loans and granted $6 billion through June. Furthermore, U.S. Senators Olympia Snowe and Mary Landrieu have asked Treasury Secretary Tim Geithner to examine using the funds to encourage TARP-receiving banks to loosen their credit requirements.
Source: FoxNews.com | July 11, 2009