White House Eyes Bailout Funds to Aid Small Firms

The Obama administration is developing an initiative to take money from the $700 billion rescue program for the banking system and make it available to millions of small businesses, which officials say are essential to any economic recovery because they employ so many people, according to sources familiar with the plan.

The effort would represent a striking shift from the rescue program’s original mandate, since it would direct billions of bailout dollars toward a plan that aims more at saving jobs than at righting the financial system. Some economists estimate that small businesses, defined as firms with fewer than 500 workers, employ most of the country’s workforce.

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One Response to White House Eyes Bailout Funds to Aid Small Firms

  1. Our business has been contributing to the American economy since 1968. The most recent downturn has hit us hard right on the heals of IKE.

    Being able to access this stimulus money could be just what we need to stay alive.

    What can I do to access it?

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