Obama plans to push Congress on small-business loan package

President Barack Obama will urge Congress to pass a bill designed to increase lending to small businesses. The president plans to speak today before a group of small-business owners gathered at the White House. The legislation would create a $30 billion fund to encourage community banks to lend to small businesses. "Government can't create jobs, but it can help create the conditions for small businesses to grow and thrive and hire more workers," Obama will say, according to excerpts of his remarks released by the White House.

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Wall Street Journal (tiered subscription model), The · Bloomberg Businessweek