Obama To Ease Credit For Small Biz new!

As part of a series of initiatives aimed at helping small businesses, the Obama administration will make it easier for small banks to access money from the Troubled Asset Relief Program.

The President will visit a small business in Maryland tomorrow where he will announce the package of initiatives, Fox News has confirmed.

In addition to easing TARP access, the White House will move to increase the caps on existing Small Business Administration loans.

While large banks are beginning to flourish again and many big companies are showing profits, small businesses have lagged behind as the nation recovers from the worst recession in decades.

The Obama administration has been criticized for quickly reaching out to the big banks while smaller banks were neglected. Small community banks, such as Sterling Bancorp (STL: 7.1, -0.1, -1.39%) are big lenders to small local businesses.