BUSINESS
03/18/2010 05:12 am ET Updated May 25, 2011

Small Business Bailout: Obama Announces New Program To Boost Lending

After enduring months of criticism that his administration had done too little to help small businesses weather the recession, President Obama said Wednesday that "there's still too little credit flowing to our small businesses" and unveiled initiatives he said would open the spigot.

The measures, announced by Mr. Obama at a small records storage company in Maryland, would allow smaller community banks to borrow at low rates from the Treasury Department's Troubled Asset Relief Program. It would also raise the loan caps on several popular Small Business Administration programs.

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