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Geithner announces new lending programs for small business
WASHINGTON (Reuters) - The Treasury Department is implementing two new lending programs for small businesses and will host a conference on March 22 to explore ways to expand access to capital, Treasury Secretary Timothy Geithner said on Tuesday.
The programs were created under the Small Business Jobs Act that was passed in September. One is expected to spur more than $15 billion in small business lending and the other is expected to encourage lending to small businesses by providing low-cost capital to qualified small banks with assets under $10 billion.
Geithner's comments were posted on the Treasury department's website.
(Reporting by Rachelle Younglai)
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