Obama announces more plans for small business

From MSNBC: "The Obama administration announced Monday that the 21 largest banks receiving U.S. government money must report monthly on how much they lend to small businesses. "All other banks getting federal taxpayer help are being asked to report quarterly on small business loans. Even banks that are not taking government funds are being told by the administration to 'make an extra effort' to increase small business lending... "The new measures taking effect Monday focus on opening up small-business lending, seen as critical to cities’ growth. While the SBA typically guarantees $20 billion in loans annually, new lending this year is on track to fall below $10 billion, according to the administration. Under the two-month-old administration’s new initiative, the government will step in to buy these loans to help unlock the frozen credit market, using money from the recently passed bailout package in the range of between $10 billion to $20 billion, one official briefed on the plan said."