U.S. Treasury issues guidance for $10 billion small business credit program

/
1 min read
FILE PHOTO: Signage is seen at the United States Department of the Treasury headquarters in Washington, D.C.

WASHINGTON (Reuters) – The U.S. Treasury Department on Wednesday released new implementation guidance for the $10 billion State Small Business Credit Initiative Program, designed to allow firms in disadvantaged communities access capital.

The program, approved under coronavirus relief legislation passed in March, aims to catalyze $10 of private investment for every $1 of federal funding. Treasury said in the the guidance that it will provide $2.5 billion in seed capital for jurisdictions to reach businesses owned by socially or economically disadvantaged individuals and over $600 million in funding to Native American tribes.

(Reporting by David Lawder)

tagreuters.com2021binary_LYNXMPEHA90ZD-BASEIMAGE

Let your voice be heard...Share your opinion:


Related News:  Aeromexico shareholders back capital increase in restructuring plan