New Efforts to Improve to Small Businesses Credit for Announced

This story appeared in Bank Digest.

The Obama Administration has announced new measures as part of an ongoing effort to help small businesses access credit and create jobs. These measures include:

• Taking further steps to provide small businesses with access to credit by supporting community bank lending through the Financial Stability Plan.
• Seeking legislation to increase maximum SBA loan sizes to allow more businesses to access the credit they need to expand and create new jobs.
• Convening a Treasury/SBA Small Business Lending Conference to work with regulators, lenders and congress to ensure credit is available to small business

House Speaker Nancy Pelosi, D-Calif, commended the plan, stating, "Providing incentives for community banks and community development financial institutions to lend in low- and moderate-income communities will help create jobs, fueling our economic recovery."