Released: October 20, 2009

Home buyers, small firms to get a boost

Source: David Cho, Washington Post (Free Registration)

The Obama administration rolled out an initiative Monday to help moderate and low-income home buyers, launching what sources familiar with the planning said will be a series of proposals aimed at healing two badly wounded areas of the economy: small business and the housing market.

In an effort to encourage homeownership, the Treasury Department announced an initiative to help ailing state and local housing finance agencies provide inexpensive mortgages to underserved borrowers.

Later this week, the administration plans to ask Congress to raise the ceiling on the amount of money companies can receive from the Small Business Administration’s major lending programs, the sources said.

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