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Archive for Sunday, October 25, 2009

Obama: Banks should help small businesses

October 25, 2009

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— Big banks that got big bailout bucks should return the favor by lending more to qualified small businesses, President Barack Obama says.

In his weekly radio and Internet address Saturday, Obama said too many small business owners remain unable to get credit despite administration steps to jump-start lending, which was virtually frozen when the financial crisis took hold last year.

“These are the very taxpayers who stood by America’s banks in a crisis, and now it’s time for our banks to stand by creditworthy small businesses and make the loans they need to open their doors, grow their operations and create new jobs,” Obama said.

“It’s time for those banks to fulfill their responsibility to help ensure a wider recovery, a more secure system and more broadly shared prosperity,” said Obama.

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