Bankruptcy

New TARP Money for Small Businesses

By mcbride

A new initiative should be announced today which is to help small businesses grow and add employees.  No doubt this is an effort to balance criticism that the bail out money has been more directed at saving the big banks and not the small businesses who made no risky investments, nor took fat bonuses for their ?management?.    It calls for the establishment of ??a new $30 billion “small-business lending fund” created from TARP money.  The fund would be available to community banks with assets of $10 billion or less for small-business lending, say senior administration officials, who didn’t want to be identified because the president had not yet formally announced the program.?  Here is a link to that article: http://www.usatoday.com/money/smallbusiness/2010-02-01-obama-small-business_N.htm

 Michael

Full post as published by Texas Lawyer Blog on February 02, 2010 (boomark / email).