Unlocking Credit for Small Businesses

{{#badges:RealEconomyProject}} The Unlocking Credit for Small Businesses Program would increase loans to small businesses by spurring demand amongst investors for securities backed by Small Business Administration loans. Treasury publicly committed $15B for the program, but no transactions are listed in the Jan. 8, 2010 transaction report from Treasury nor does the Financial Stability website list any active programs.

SIGTARP: “On March 16, 2009, Treasury announced the Unlocking Credit for Small Businesses (“UCSB”) program to encourage banks to extend more credit to small businesses. Under the UCSB program, Treasury stated that it would purchase up to $15 billion in securities backed by pools of Small Business Administration (“SBA”) loans from two SBA participating programs: the 7(a) Program and the 504 Community Development Loan Program. According to Treasury, the UCSB program is designed to provide banks the liquidity necessary to start writing new small-business loans again. On September 24, 2009, during Congressional testimony, Assistant Treasury Secretary for Financial Stability, Herbert Allison, noted that Treasury would soon announce further program details. As of September 30, 2009, no TARP funds had been expended under this program.”

Wall Street Bailout Accounting
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UNLOCKING CREDIT FOR SMALL BUSINESSES
Balance Sheet
Disbursed*:
Current outstanding:
Public Funds
Maximum at-risk:
Current at-risk:

* See the methodology and glossary for definitions of "disbursed," etc.

Contents

Funding agency and aid type

The funding agency was the Treasury Department.

Articles and resources

Related SourceWatch articles

• SIGTARP Quarterly Report to Congress July 21, 2009
• Troubled Asset Relief Program

References

External resources

External articles

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