OBAMA ADMINISTRATION, GOVERNOR SHUMLIN ANNOUNCE FUNDS TO SPUR AT LEAST $132 MILLION IN NEW LENDING TO VERMONT SMALL BUSINESSES
March 22, 2011
WASHINGTON – Today, the U.S. Department of the Treasury and Vermont Governor Peter Shumlin announced the approval of Vermont’s State Small Business Credit Initiative (SSBCI) application. Vermont’s planned use of the SSBCI funds will help create new jobs and spur more than $132 million in additional small business lending in that state. The SSBCI program, which supports state-level small business lending programs, is an important component of the Small Business Jobs Act that President Obama signed into law last fall.
“These critical funds will help Vermont small businesses access the capital they need to expand their operations, create new jobs, and continue supporting our nation’s economic recovery,” said Treasury Secretary Tim Geithner. “Public-private lending partnerships, such as the State Small Business Credit Initiative, have a proven track record of success, and I’m pleased that this funding is on its way to support economic growth in Vermont.” Read more
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