In June, US Treasury secretary Timothy Geithner said that he expected the government to begin funding from its small-business lending programme. In September last year, president Barack Obama signed off on a $30 billion fund to banks to encourage them to lend to small and medium-sized enterprises. Interest, however, has been subdued. Only 869 of the 7,700-odd financial institutions that could have accessed the fund have applied to do so, and only $11 billion in loans has been requested.
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