March 2, 2023 These State Small Business Credit Initiative funds are awarded to New Jersey, Texas, and Washington to support local small business financing and investment programs WASHINGTON — Today, the U.S. Department of the Treasury announced the approval of three additional state plans for up to $890.7 million in funding under the State Small Business Credit Initiative (SSBCI) in President Biden’s American Rescue Plan: New Jersey, Texas, and Washington. Treasury has now announced the approval of state and territory plans corresponding to over $8 billion in SSBCI funding to support small business and entrepreneurship and expand access to capital. “Advancing equity has been a key priority of the Biden-Harris Administration since day one, including through its implementation of American Rescue Plan programs. This includes efforts to support small business growth and expand access to capital in communities across the country,” said Deputy Secretary Wally Adeyemo. “The State Small Business Credit Initiative is helping to unlock the potential of entrepreneurs in underserved communities across the nation who may have otherwise never had the support needed to pursue their business ideas and ambitions.” The American Rescue Plan reauthorized and expanded SSBCI, which was originally established in 2010 and was highly […]
Treasury Announces Approval of Up to $890.7 Million to Support Small Business Success Across Three States
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