Job-creation plan would funnel TARP funds to small businesses

12/11/2009 | Washington Post (tiered subscription model), The

Increasingly worried by the economic and political damage inflicted by rising unemployment, the Obama administration is working on approaches that would put money from the Troubled Asset Relief Program to work on job creation at small businesses. The options include finding ways to make TARP funds available to banks without the usual restrictions, as long as the money is spent on loans to small businesses. Gene Sperling, an adviser to U.S. Treasury Secretary Timothy Geithner, said President Barack Obama instructed the Small Business Administration and the Treasury to help creditworthy small businesses obtain the financing they need to create jobs.

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