Washington Post; By: Sharon McLoone
Sen. Mary Landrieu (D-La.), the head of the Senate Small Business and Entrepreneurship Committee, said today that the proposed economic recovery plan currently in debate on the Hill moves small business in the right direction.
Language in the bill temporarily eliminates fees associated with the Small Business Administration's main lending program. Landrieu said that action could stimulate as much as $20 billion in new small business loans, creating up to 600,000 jobs. The Federal Reserve's Senior Loan Officer Opinion survey released this week showed that 70 percent of domestic banks have tightened small business lending.
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