Oct 1, 2014
U.S. Department of the Treasury Report - October 1, 2014: Nearly 100,000 Jobs Supported by U.S. Treasury’s State Small Business Credit Initiative.
Funds Support Small Businesses Nationwide and Create Jobs
WASHINGTON - The U.S. Treasury Department’s State Small Business Credit Initiative (SSBCI) today released new data detailing how the program continues to help small businesses grow and create jobs. Since the beginning of the program, the Treasury Department has provided more than $1 billion in SSBCI funds to participating states. Of that amount, states have expended $590 million, which leveraged more than $4 billion in new loans and investments to approximately 8,500 businesses through 2013. Business owners have reported that more than 95,000 jobs will be created or saved as a direct result of SSBCI support. Additionally, 80 percent of SSBCI supported loans or investments went to businesses with ten employees or less.
“Small businesses and entrepreneurs need capital to build and grow their businesses,” said Deputy Treasury Secretary Sarah Bloom Raskin. “Through the State Small Business Credit Initiative, the U.S. Treasury Department and private sector lenders and investors are driving economic growth in America’s small businesses. The data released today show that this program continues to provide small business owners with access to the resources they need to create jobs.”
|WEDNESDAY, OCTOBER 1, 2014|