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Follow on Google News | Obama To Help Small Business Get SBA Loans | President Announces Help For Small Banks To Loan MoneyThe government has $700 billion in rescue funds, and the President wants part of that money to go to local small businesses that are in desperate need of capital.
By: Robert Wagner The proposal has very few details at this time, and no dollar amount is available, according to congressional and industry officials. The ABA (American Bankers Association) "Community banks feel like the government assistance efforts to date have left them on the sidelines," said Mark Tenhundfeld, a senior vice president at the bankers' association. With only $320 billion left in TARP fund money, it will be welcome in the local business community. No further information was given about how it could affect the SBA Microloans program. http://www.sbaloans- For more information about the SBA Loans Program http://www.sbaloans- End
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