Obama Pledges Credit Help For Small Businesses

CHILLICOTHE, Ohio – Barack Obama says if he’s elected president, small businesses will get some help to make it through the current financial crisis.

At a campaign appearance in Ohio, the Democratic presidential candidate noted that with credit markets frozen, small business often struggle to get the short-term loans they need to make their payrolls and other payments. He says an Obama administration would provide “affordable, fixed-rate loans to small businesses,” much as the government did shortly after the 9/11 attacks.

He says his plan would temporarily waive fees for borrowers and lenders. That, he says, would “unlock the credit that small firms need to move forward, pay their workers, and grow their business.”