TARP opens its doors to small banks

By Geert De Lombaerde Posted on October 22, 2009 at 7:11 am

But small banks aren’t rushing to line up for President Obama’s proposed expansion of the SBA’s main lending program. And in moves reminiscent of the ongoing health reform debate, other proposals already are making the rounds.

“There are different ways to skin this cat,” said the Senator, who suggested the creation of a $50 billion loan pool that would combine TARP funds, Federal Reserve loans and bank contributions that lenders could use to service small businesses. That idea has gained the support of about 30 other senators.

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Tags: banking, commercial banking, financial regulation, government stimulus, small business, TARP, Troubled Assets Relief Program, U.S. Small Business Administration  

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