WASHINGTON — The Small Business Administration said the latest version of the Troubled Asset-Backed Securities Loan Facility could go far in unfreezing secondary markets.
"If we want to thaw the credit markets for small businesses, we absolutely have to get the secondary market for small business loans moving again. TALF is a critical element in doing that," said Acting SBA Administrator Darryl Hairston.
Earlier this year, the SBA added the one-month LIBOR rate as an alternative base interest rate lenders can use on the agency's backed loans and introduced a weighted average coupon pools for SBA securities sold in secondary markets, all in an effort to get credit markets moving again.
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