Schumer said Sunday that a loan program is necessary because funds from the $700 billion bailout of the financial industry won't be available for at least a month.
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Schumer wants loans for small businesses
NEW YORK The New York Democrat says the already tight credit market will
become even more restrictive and, in his words, "choke small
businesses struggling to pay the bills" for inventory, payrolls
and other obligations. He is asking the Bush administration to set
up a special direct loan program for small businesses similar to
that which exists for student loans.
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