U.S. Treasury Moves To Unlock Credit For Small Businesses

Yesterday the Obama Administration took more steps so that small businesses will have access to credit needed to support our Nation’s economic recovery … the steps detailed below come direct from the Treasury …

Unlocking Credit for Small Businesses

  1. Jumpstart Credit Markets For Small Businesses By Purchasing Up to $15 Billion in Securities 
    • Stand Ready to Purchase Securities Pooled from the SBA’s 

      Largest Loan Program for Small Businesses

    • tand Ready to Purchase Securities Pooled from the SBA’s Community Development Loan Program 
  2. Temporarily Raise Guarantees to Up to 90 Percent in SBA’s 7(a) Loan Program 
  3. Temporarily Eliminate Certain SBA Loan Fees to Reduce the Cost of Capital 
  4. Call by Secretary Geithner for New Reporting Requirements on Bank Lending to Small Businesses and Greater Efforts to Extend Small Business Loans 
  5. Issue Guidance for an Expanded Carryback Provision as Part of the Recovery Act’s Comprehensive Tax Cut Package for Small Businesses

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