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Money

Small but encouraging signs for small business lending

Small but encouraging signs for small business lending
BY ROHIT ARORA
COMMENTARY

Small business lending and use of lines of credit are on the rise, even if not at the level experts had hoped. The loosening of credit for small businesses can help them expand and create employment, which are both critical to the economic recovery.

U.S. Treasury Secretary Timothy Geithner wrote a letter earlier this month stating that bailed-out banks that still owe money from the $700 billion Troubled Asset Relief Program (TARP) could still participate in the newly created Small Business Lending Fund (SBLF) and encourages them to do so. He also addressed concerns from Republican Senator Charles Grassley that banks were should not be paying debt that they owe from TARP with SBLF money.

Enacted into law as part of the Small Business Jobs Act of 2010, the SBLF is a $30 billion lending pool that encourages loans to small businesses by providing capital to qualified community banks with assets of less than $10 billion. Through the fund, community banks and small businesses can work together to help create jobs and promote economic growth in local communities across the nation. Nearly 500 banks have applied for the Small Business Lending Fund thus far, and the Treasury has extended the deadline to apply for a capital infusion from the $30 billion lending pool until May 16.

 

Gov. Christie signs Democratic-sponsored bill extending unemployment relief

Gov. Christie signs Democratic-sponsored bill extending unemployment relief

Democratic-sponsored measure extends benefits through end of year

Gov. Chris Christie has signed Democratic-sponsored legislation designed to provide relief for New Jerseyans confronting long-term unem...

N.J. DOBI and Britain to share insurance information

N.J. DOBI and Britain to share insurance information

Pact follows similar agreement with Germany in 2009

The state Department of Banking and Insurance and Britain’s Financial Services Authority (FSA), which regulates that country’s insurance industry, ha...

‘My adviser tells me: Sell everything’

‘My adviser tells me: Sell everything’
BY WARREN BOROSON
NEWJERSEYNEWSROOM.COM
BOROSON ON MONEY

Someone writes to me: “I had my first meeting with the new financial adviser at my bank. I’m 60-years old and have done pretty well with mutual fu...

Looking for an inflation hedge? A tip on TIPS

Looking for an inflation hedge? A tip on TIPS
GERALD J. ROBINSON
NEWJERSEYNEWSROOM.COM

Inflation is here and it’s starting to bite.

The signs of increasing inflation abound: gasoline at $4 a gallon, wholesale food prices rising 3.9 percent in Februa...

N.J. casino authority has taken 11 steps to revitalize Atlantic City

N.J. casino authority has taken 11 steps to revitalize Atlantic City

Christie welcomes actions which include creation of policed tourism district

The state Casino Reinvestment Development Authority, much to the approval of Gov. Chris Christie, has taken 11 steps toward ...

Borrowing from your 401(k) should be a last resort

Borrowing from your 401(k) should be a last resort
BY MATTHEW DiQUOLLO
COMMENTARY

If you have unexpected expenses such as a hefty tax bill or an expensive home repair, you may be thinking about borrowing from your 401(k) plan.

Think again. Although your ...

Job search: Self-auditing your online presence

Job search: Self-auditing your online presence
BY LINDA VAN VALKENBURGH AND ANDREA GOLDMAN
You have begun your career campaign. You have worked on your resume, started posting on some of the numerous job boards out on the web, and worked on increa...

Morgan Stanley and TD Ameritrade agree to repurchase $338.8M in securities from New Jersey investors

Morgan Stanley and TD Ameritrade agree to repurchase $338.8M in securities from New Jersey investors

Firms sold auction-rate securities without disclosing known risks

The New Jersey Division of Consumer Affairs announced Thursday that through its Bureau of Securities, it has signed final Consent Order...

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