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Governor supportive of more loans for small business

Gov. Jim Doyle was in Washington this week to support the President's plan to increase lending to small businesses. Part of the president's proposal includes a $30-billion small business lending fund. The Obama administration says the money would...

Gov. Jim Doyle was in Washington this week to support the President's plan to increase lending to small businesses.

Part of the president's proposal includes a $30-billion small business lending fund. The Obama administration says the money would go only to community banks. The idea is that these smaller banks have been more inclined to keep lending to small businesses during the recession.

Gov. Doyle told reporters in a conference call Tuesday that it would be a good fit for Wisconsin's small banks. He says small banks know their customers and deal with small businesses throughout very difficult economic times, without "any of the stuff that we read about the paper."

Doyle says to the extent that they would have this kind of additional capital available to them to get out loans to small businesses, such an ability "would be enormously helpful."

The White House says small banks would only benefit from the fund if they're lending more than they did in 2009.

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The president's proposal would also expand existing small business incentives at the state level. Doyle says that would help businesses that are already established and have weathered the economic storm.

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