Are banks' lending programs helping small businesses?

06/24/2010 | Wall Street Journal, The

Big banks including Goldman Sachs, Bank of America and Citigroup have announced programs to increase lending to small businesses, but the impact of those programs is still unclear. Goldman Sachs has only two community development financial institutions signed up for its $300 million program, which is still in its pilot stages, and Bank of America is below its goal to boost small-business lending by $5 billion in 2010. Still, the banks say the programs are new and are expected to be expanded.

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