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Mayor Nutter gives millions to restaurants, developers
Mayor Nutter and his commerce deputy, Andrew Altman, announced the latest round of handouts to city businesses, funded with borrowed money from bond issues under Mayor Street, as part of their anti-recession effort.
Separately, the Philadelphia Industrial Development Corp. said it's starting a small-business loan guarantee fund long championed by City Councilman Wilson Good 3d but ignored by the city's dominant banks. Valley Green Bank and United Bank of Philadelphia said they'll participate in the "pilot phase" of the program.