Obama To Announce $30 Billion Small Business Lending Program (FOXBusiness.com)
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President Obama will announce details of a new $30 billion small business lending initiative at a town hall meeting on jobs and the economy in New Hampshire today.
The initiative, called the Small Business Lending Fund, is targeted at 8,000 community banks with assets of less than $10 billion and, according to one financial industry source, could generate up to $240 billion to $300 billion in new small business loans, based on current government bank capital and leverage rules.
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