In a move to free up more capital that it hopes will jumpstart the economy, the Obama administration today announced a program to increase the amount of small business loans made by credit unions and other lenders.
The government currently guarantees between 50% and 85% of these loans, and under the new proposal would guarantee up to 90%.
The government will also temporarily lift some of the fees on these loans and begin to buy some bundled small business loans on the secondary market.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
