Dear Secretary Geithner:
On behalf of the 5,000 members of the Independent Community Bankers of America, we greatly appreciate and support the Administration’s proposal to establish a Small
Business Lending Fund that would provide capital to interested community banks.Under the program, banks with less than $1 billion in assets could receive capital investments up to 5 percent of their risk-weighted assets, and those with between $1
and $10 billion in assets could receive up to 3 percent. $30 billion in repaid Troubled Asset Relief Program funds would be transferred to the new program.
February 17, 2010 Letter. Apparently as of yesterday in my conversation with the Independent Community Bankers of America, this proposal is still held up Congress.
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