During a small business conference hosted by the Treasury Department and the U.S. Small Business Administration today, Senator Warner urged the administration, Congress, and banks to work quickly to boost lending to small businesses still facing very challenging credit conditions.

During the panel discussion -- with Treasury Secretary Timothy Geithner, SBA Administrator Karen Mills, and the heads of large and community banks – Senator Warner discussed his proposal to pool unspent TARP funds with loan funds from local banks to re-boot lending to Main Street businesses.

In addition to those efforts, Senator Warner said that he hoped everyone at the table could work together to bring new ideas to the table to more aggressively increase lending for these struggling businesses.

“Small businesses having been hanging on as long as they can, and slowly they are at the end of their rope,” Senator Warner said.

As the Obama administration moves from “rescue” policies to what Secretary Geithner called the “repairing and rebuilding” phase, the Treasury chief today said the administration is committed to doing more to help small businesses get credit needed to “grow and hire new workers.”

Large businesses get 30 percent of their financing from banks, while small businesses rely on banks for 90 percent for their credit, Geithner said.

Senator Warner praised the efforts of the SBA so far, but said that more could be done by the Administration and the banks to get credit flowing again.

Click here to see more pictures from the event.

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  On November 8, the Richmond Times-Dispatch published an op-ed written by Senator Warner discussing his proposal to increase access to credit by small businesses by pooling unspent funds in the TARP program with loan funds from local and community banks.

• More action to revive small business lending
  Senator Warner and 32 of his Senate colleagues are urging the Obama Administration to do more to support America’s struggling small businesses by increasing the availability of credit.

• A plan to expand help for small businesses
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• WSJ: For Community Banks, Obama Plan Poses Fresh Concerns
  The Wall Street Journal talks to Senator Warner on his reaction to President Obama's proposal to increase loans backed by the U.S. Small Business Administration, and his letter, signed by one-third of the U.S. Senate, to the President urging more help for small businesses.