Big banks have been receiving a lot of help from the government lately in the form of bailout funds. Now Obama has asked that these companies give in return, and lend aid in the form of loans and credit to smaller, qualified businesses.
"These are the very taxpayers who stood by America's banks in a crisis, and now it's time for our banks to stand by creditworthy small businesses and make the loans they need to open their doors, grow their operations and create new jobs," Obama said in his weekly radio address Saturday.
In his address, Obama pointed out that small businesses are still struggling to get the funds needed to take off, despite attempts by the administration to do so. Obama has now made plans for allowing credit for small businesses in the form of capital injections. Obama has also asked for an increase in the Small Business Administration loans from 2 to 5 million.
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