"The House passed the Small Business Jobs and Credit Act (H.R. 5297) on June 17th by a vote of 241-182. The Senate voted to end debate on the Bill on July 22nd, meaning that it now needs only a simply majority for passage. The stated purposes of the Bill include creating jobs in the private sector by expanding lending to small businesses. The Bill is designed to leverage up to $300 billion in loans for small businesses through a small business lending fund that would make capital investments in small and mediumsized community banks (banks under $10 billion in assets)." Download the complete article by
Robert T. Smith,
Bryan W. Duke and
John F. Griffee here.