News

US Spending $10 Billion to Support Small Businesses

Order Reprints
money

Jan.12, 2022—The U.S. is planning to hand out $10 billion to help upstart companies gain access to capital, the Wall Street Journal reported.

The State Small Business Credit Initiative will direct money to states, territories and tribal governments for programs that provide venture capital or encourage private lenders to issue loans to small firms. The program revives a policy put into place following the 2009 recession, when banks cut back on lending to small firms.

The $10 billion is more than six times as large as the cost of the earlier program, in part because the administration and Congress wanted to dedicate funds to disadvantaged groups. The money comes from the $1.9 trillion coronavirus-aid package Congress passed last March. 

Recommended Products

2017 Fast Lube Operator Survey

2014 Fast Lube Operator Survey

2018 Fast Lube Operator Survey

Related Articles

US Senate Passes Act to Increase Funding to Small Businesses

Small Businesses Push For Extension To PPP Deadline

You must login or register in order to post a comment.