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February 11, I9I46 Mr. Thomas ¥iSB Burr According to recent reports on Housing Expediter Wyatt's plans, the RFC is now taking another step in the direction of increasing its activities as a Government financing agency by broadening the application of its plan for guaranteeing bank loans to business* Reports on the housing program indioate (Wall Street Journal, February 9) that the RFC would "play a 'major role in financing the program1 through loans to new business ventures to produce materials and prefabricated dwellings•* Previously on February 5» *&• &?C announced the extension of the protection of the RFC Blanket Participation Agreement with banks to include loans made to contractors and other business enterprises interested in building residences* under this participation plan the HFC makes available to approved banks a guarantee up to 75 P e r cent of any business loan* up to a mayiwnm of $350 thousand, which meets the requirements of the agreement* SSBtew
@FedFRASER