Treasury Secretary To Entrepreneurs: Help Is Coming
Get the working capital your business needs from Entrepreneur Lending, powered by CAN Capital. Learn More »U.S. Treasury Secretary Timothy Geithner told members of Congress last night that stimulus funds for entrepreneurs are on the way, with a Consumer and Business Lending Initiative and increased federal backing of SBA loans forthcoming.
The closed-door meeting with Democratic lawmakers laid out Geithner's plans to shore up a core, job-creating sector of the U.S. economy--small business.
The plan takes its cues from the Term Asset Backed Securities Loan Facility and aims to, as Geithner has said previously, "get credit flowing again" for small-business owners, consumers and students. The sit-down with members of Congress also apparently laid the groundwork for the Obama Administration to ask for more stimulus money, at least some of which would presumably go to the mom-and-pop business sector.