NEW YORK (AP) -- New York Sen. Charles Schumer is calling for federal help for small businesses that have been slammed by the ongoing credit crisis in the markets.

Schumer is expected to call for the creation of a temporary small business direct loan program modeled after the student loan program during a news conference scheduled for Sunday morning.

Schumer's office says in a statement that a loan program is necessary because funds from the $700 billion bailout of the financial industry won't be available for at least a month.

The statement says small businesses need credit to pay bills and cut payroll checks.