Democrats want to make it easier for small businesses to get loans. A United States Senate bill promises to pump seed money into community banks.
Tucked away in a jobs bill, Senate Democrats included a $30 billion infusion of cash for community banks. Main Street banks would only get the money if they lend it to small businesses. Democratic Senator Barbara Boxer, who co-authored the amendment, says it’s particularly important to California.
"So many small businesses that I’ve seen," she says, "really are solid and really cannot get the credit they need. And many community banks could use this infusion of funds so they can begin to expand their lending. So it’s a good marriage."
Democrats had hoped for a vote this week on the measure. That isn’t likely to happen because of Republican delays over another bill - an extension of unemployment benefits.