Tags: US | Bailout | Business | Lending

U.S. Plans $30 Billion to Bail Out Small Firms

Friday, 18 Dec 2009 04:15 PM

The Obama administration is setting aside $30 billion from the financial bailout fund for a program designed to encourage lending to small businesses to aid the economic recovery.

Internal documents spell out how the Treasury Department plans to spend money from the fund before it expires in October 2010.

The documents show $40 billion would go to consumer and business lending programs.

Of that amount, $30 billion would support lending to small companies, according to a Treasury official who spoke on condition of anonymity because no final decisions on the program have been made.

The administration said in October it would create an expanded business lending program but has had trouble finalizing the details.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page
2Share
Headline
The Obama administration is setting aside $30 billion from the financial bailout fund for a program designed to encourage lending to small businesses to aid the economic recovery.Internal documents spell out how the Treasury Department plans to spend money from the fund...
US,Bailout,Business,Lending
114
2009-15-18
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved