$750 Million in Small Business Credit Approved

Treasury Department approved funds for the states of New York, Colorado, Oregon, and Montana.

The Department of Treasury recently announced the approval of four state plans for small business credit, amounting to $750 million total for small business capital access. The states of New York, Colorado, Oregon, and Montana can now participate in the Treasury Department’s State Small Business Credit Initiative (SSBCI), which provides money for state venture capital programs and various small business loan programs.

“This is an historic investment in entrepreneurship, small business growth, and innovation through the American Rescue Plan that will help reduce barriers to capital access for traditionally underserved communities,” said Secretary of the Treasury Janet Yellen. “I’m excited to see how SSBCI funds will promote equitable economic growth across the country.”

As the Lord Leads, Pray with Us…

  • For the president and his administration as they look for ways to support small businesses.
  • For Secretary Yellen to seek God’s direction as she implements the president’s policies.
  • For Administrator Guzman as she oversees the Small Business Administration.

Sources: The Hill, Reuters


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