Treasury transfers $4.5 million to Kansas for small-business lending programs
- John Stearns[1]
- Reporter- Wichita Business Journal
- This email address is being protected from spambots. You need JavaScript enabled to view it.[2] | Twitter[3]
The U.S. Department of the Treasury announced Friday the transfer of almost $4.5 million to the Kansas Department of Commerce[4] to expand Kansas' small-business lending programs.
The transfer of funds represents the third disbursement of Kansas' total State Small Business Credit Initiative (SSBCI) allocation of about $13.2 million.
According to the most recent SSBCI annual report, the program has supported loans and investments to more than 4,600 U.S. small businesses totaling $1.9 billion through the end of 2012, a Treasury news release says.
SSBCI was created by the Small Business Jobs Act of 2010. Funded with $1.5 billion, the program is expected to spur up to $15 billion in new lending to small businesses and manufacturers as states use federal funds to leverage private investment dollars.
For more information on Kansas' SSBCI-funded programs, visit the Kansas Department of Commerce.[5]
John Stearns covers real estate, development and banking.
References
- ^ John Stearns (feeds.bizjournals.com)
- ^ This email address is being protected from spambots. You need JavaScript enabled to view it. (feeds.bizjournals.com)
- ^ Twitter (twitter.com)
- ^ Kansas Department of Commerce (www.bizjournals.com)
- ^ Kansas Department of Commerce. (www.kansascommerce.com)