Banks Tap Small Business Lending Fund to Repay TARP

Banks Tap Small Business Lending Fund to Repay TARP
Hundreds of small banks that received US aid after the financial crisis appear to have found a creative way to repay the funds: obtain money from a different government program. Most of the 627 banks that still hold money from the controversial Troubled Asset Relief Program, or TARP, have filed applications to roll the obligations into the government's new Small Business Lending Fund, according to Treasury officials and the banks. . . . keep reading about Small Business Lending

Small Business Lending is vital to the country's economy. The Obama administration and Congress created the Small Business Lending Fund to increase lending by small and mid-size banks. "The purpose of the [Small Business Lending Fund] is to encourage Main Street banks and small businesses to work together to help create jobs and promote economic growth,'' said Colleen Murray, a Treasury Department spokeswoman. In these changing times business owners looking to expand and grow are hesitant because of all of the uncertainty regarding the economy and having access to capital vital. There are lending sources with funds available to lend and Commercial Lending Pros is committed to helping small businesses obtain the funds that are vital to expand, hire and grow.