Did Main Street Get Shorted by Treasury's Small Business Lending Fund?

The U.S. Treasury Building in Washington Photograph by Andrew Harrer/Bloomberg

When President Obama announced the Treasury Department’s Small Business Lending Fund in his 2010 State of the Union address, its goal was to boost credit to Main Street entrepreneurs by funneling $30 billion to community banks. The $30 billion would come from loan repayments to the federal government from Wall Street banks participating in a separate, better-known Treasury program: the Troubled Asset Relief Program. At the time, the head of one industry group projected the SBLF could translate into $300 billion in small business loans.

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