Effort Reported to be Underway to get Financial Help to Small Businesses

Finally, help may be on the way to small businesses! It has been reported that the federal government is developing initiatives to make billions of dollars of bailout funds available to small businesses through community banks.

Several different proposals are being developed. There seem to be two focuses to the proposals. One is to find ways to extend credit to small businesses through community banks. Small businesses have, so far, largely been cut out of the economic recovery. The second focus is to revamp the Small Business Administration lending programs and extend aid to small businesses under the Obama economic stimulus program.

Senator Mark Warner (D-VA) is a key Senator working on behalf of small business. He makes the point that while billions of dollars have gone to troubled large banks from the TARP fund, "we've done nothing to help small business." Warner would like to see money reallocated from the TARP fund to community banks to help small business.

This is a developing story. I'll keep on top of it!

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