Treasury Approves Small Business Credit Initiative Applications from Connecticut, Missouri, Vermont

摘要

The Treasury Department has approved state small business credit initiative (SSBCI) applications from Connecticut, Missouri, and Vermont that are expected to generate a total of more than $534 million in small business lending. Under the program, which was created by the small business lending bill enacted last fall, states are offered the opportunity to apply for federal funds for state-run programs that partner with private lenders to increase the credit available to small businesses. States must show a reasonable expectation that at least $10 in new private lending will result from every $1 in federal funding.