The Administration Lays Out a Small Business PlanBy
Turning its attention from the troubles of Wall Street banks to bolstering the fortunes of Main Street businesses, the Obama Administration announced on Mar. 16 a three-pronged package intended to help small businesses. The program includes a $730 million chunk from the recently passed economic stimulus plan to reduce lending fees while increasing government guarantees on a portion of Small Business Administration loans up to 90%. It also seeks to increase bank liquidity by injecting $15 billion into banks to thaw the credit market and boost lending to small businesses.
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