Small Businesses and Small Towns in Line for Big Gains

The Washington Post reports today that billions of dollars of bailout funds may soon be available to help small businesses. One plan from Sen. Mark Warner (D-Va) suggests pooling money from several areas, including the Federal Reserve, to allocate $50 billion to be used to lend to small businesses. Another plan set forth by the Treasury Department is much smaller calling for $10 billion of bailout funds and not involving the Federal Reserve.

"Both proposals attempt to speed aid to small businesses, which government officials say are essential to economic recovery because they employ so many workers," states the report. The idea is to give money to small community banks who would then loan the money to there community businesses. If successful it would be a big step toward saving jobs in small communities. More on this story can be found here.