Getting your player ready...
Colorado’s U.S. senators, Michael Bennet and Mark Udall, joined with 32 other lawmakers Wed nesday to press the Obama administration to unlock more credit lines for small businesses using Troubled Asset Relief Program funds.
Citing challenges still facing small businesses on a still- struggling “Main Street,” they proposed creating a loan pool — combined with funds kicked in by banks — that would not harm capital levels of the financial institutions, according to a press statement, because they would be kept off their balance sheets.
In recent weeks, banks have expressed concern about participating in some Small Business Administration loan programs to distressed borrowers because they could lead to tough actions by bank examiners.
