Wall Street Grand LLC, a leading investor newsletter is pleased to announce to the investment community and Wall Street Grand members market moving news about President Obama’s latest proposal to help community banks as well as small businesses. To learn more, make sure to visit our exclusive website http://www.wallstreetgrand.com/.
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President Barack Obama is aiming to provide community banks with $30 billion to prompt lending to small businesses, administration officials said. Under the lending plan that will be announced today, banks with assets from $1 billion to $10 billion could borrow as much as 3% of their risk-weighted assets, while banks with less than $1 billion in assets would get up to 5% of their holdings.
“This will help small banks do even more of what our economy needs: ensure that small businesses are once again the engine of job growth in America,” Obama will say later today in Nashua, according to excerpts released by the White House.
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