Small Business Loans to Get Federal Backing

With major corporations dominating the headlines with record losses and outlandish bonuses, it's easy to miss the fact that small businesses are hurting just the same. But, as part of the Consumer Business Lending Initiative, the Obama administration is going to take the first steps toward restoring credit flow to smaller, local businesses through community banks and credit unions. The administration announced it plans to back small-business loans to help smaller lenders feel confident in the credit market.