Lawmakers and government officials are looking for ways to provide more credit to community banks and small businesses. Sen. Mark Warner (D-Va.) said on Oct. 14 that a $50 billion pool of money for lending to small businesses could be created from resources contributed by the Treasury Department, Federal Reserve and private banks. Meanwhile, Treasury is developing a separate plan that would use about $10 billion from the Obama administration's economic stimulus package to provide aid to small banks and help increase lending.
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From "Effort Underway to Speed Aid to Small Businesses" Washington Post (10/15/09) P. A17; Cho, David; Dennis, Brady