By: Dennis Romero
In a bid to free credit lines aimed at the entrepreneurial sector, President Obama today said the government would increase its guarantees on loans administered by the Small Business Administration. The president also stated that 21 of the largest banks receiving federal bailout money under the Troubled Assets Relief Program will have to check in with the government monthly regarding their small-business lending efforts. "Small businesses are one of the biggest drivers of employment we have," Obama said today. "This is going to be a first step" to help entrepreneurs.
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