Obama administration discusses plans to boost small-business funding

05/19/2010 | Wall Street Journal, The · Reuters

The Treasury Department released details of a plan to help minority-owned firms and increase lending to small business. A proposed $2 billion grant program is similar to capital-access programs in several states. Under the plans, borrowers, lenders and local economic-development groups contribute to an investment fund used to support loans to local borrowers. The program is designed to work with a $30 billion proposal to encourage lending by community banks to small businesses. The House Financial Services Committee is expected to begin debate on the legislation today.

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Wall Street Journal, The · Reuters

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