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Article: SBA APPLAUDS TREASURY ACTION TO BOLSTER SECONDARY MARKET FOR SMALL BUSINESS LOANS

Article from:
US Fed News Service, Including US State News
Article date:
November 25, 2008
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The Small Business Administration issued the following press release:

A plan by the Treasury and the Federal Reserve to improve market conditions for asset-backed securities - including those composed of SBA-backed small business loans - should be welcome news to credit-hungry small businesses across the country, said U.S. Small Business Administration Acting Administrator Sandy K. Baruah.

The plan, announced today by Treasury Secretary Henry Paulson, establishes the Term Asset-Backed Securities Loan Facility, or TALF, to breathe new life into a secondary market that essentially ground to a halt in October. The TALF would make loans to investors who purchase asset-backed securities made up ...

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