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Obama to announce regional small business program in tampa

Posted Apr 13, 2012 by William March

Updated Apr 13, 2012 at 12:52 PM

In his speech in Tampa today, President Barack Obama will announce an initiative to promote small businesses throughout the Western Hemisphere, including loan guarantees.

The purpose of the initiative, the Small Business Network of the Americas, is to “promote and support job creation in small and medium-sized enterprises and encourage greater trade among these businesses throughout the Western Hemisphere,” A White House announcement said.

It will including expanding an existing, multi-national network of small business development centers; encouraging private sector lending, and helping U.S. businesses establish partnerships with overseas businesses.

The press release says the initiative will provide “up to $100 million in loan guarantees to encourage financial institutions in the region to increase lending to small business development center clients” and other small businesses.

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