September 23rd, 2010 
admin WASHINGTON (MarketWatch) — The U.S. House voted Thursday to approve a Democrat-supported package of small-business incentives, including legislation setting up a $30 billion fund to help community banks offer loans to small businesses. House members voted 237 to 187 to approve the bill. The approval comes one week after the Senate narrowly approved identical legislation. After the approval, the bill goes to the White House and is expected to be signed into law on Monday. Small banks receiving capital injections through the $30 billion program would have an incentive to lend to small businesses because a periodic 5% dividend payments they make to Treasury would be reduced by 1% (to as low as 1%) for each 2.5% increase in small-business lending conducted by the bank. The roughly 500 community banks that already have accepted emergency funds – the so-called Troubled Asset Relief Program funds – could convert over to this program if they haven’t been late on their dividend payments.
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