TARP funded bank won't lend for construction | Equipment World | Construction Equipment, News and Information

TARP funded bank won’t lend for construction project

Posted By Tom Jackson On February 27, 2009 @ 10:31 am In Construction News | No Comments

Despite having received $297-million in Troubled Asset Relief Program money, this bank in Santa Maria, California, is refusing to lend money to a large commercial project already underway ^[1]and to contractors it had lent to before. The purpose of the TARP was to help banks start making loans again.

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[1] refusing to lend money to a large commercial project already underway : http://www.msnbc.msn.com/id/29397285/

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