The Wall Street Journal reports that the Obama administration has announced plans to assist American small-businesses, :
[I]n a closed-door meeting with House Democrats on Capitol Hill, [Treasury Secretary] Timothy Geithner said Obama officials are working on plans to boost liquidity for small businesses as part of the administration’s broadening efforts to spur lending and arrest the pace of job losses, said individuals familiar with the meeting.
Apparently in response to the public outcry that big business has been the sole beneficiary of federal bailout monies, Geithner said that next week the White House will launch,
[A] plan that will provide financing, liquidity and guarantees to open up small-business lending, which is seen as a crucial element of economic recovery.
The size of the program is unclear, but it will come in addition to the Term Asset-Backed Securities Loan Facility, or TALF, which government officials hope will generate up to $1 trillion of lending for businesses and households.
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.
Leave a Comment