WASHINGTON--The Obama administration's latest attempt to jump-start small-business lending is facing headwinds even before it launches.
The U.S. Treasury Department plans to release in coming days the criteria banks must meet to tap a $30 billion lending fund aimed at helping small businesses. The program is expected to include enticement for smaller banks to tap the fund, including an interest rate of as little as 1% and an opportunity for banks that still have Troubled Asset Relief Program funds to substitute new government funds with fewer strings and less stigma.
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As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
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