Fwd: More Than $835 Million SSBCI Funds are Supporting Small Businesses Nationwide

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From: U.S. Department of the Treasury <subscriptions@subscriptions.treas.gov>
Date: Thu, Jul 3, 2014 at 12:22 PM
Subject: More Than $835 Million SSBCI Funds are Supporting Small Businesses Nationwide
To: iammejtm@gmail.com

Having trouble viewing this email? View it as a Web page. You are subscribed to Blog - "Treasury Notes" for U.S. Department of the Treasury. This information has recently been updated, and is now available.   More Than $835 Million SSBCI Funds are Supporting Small Businesses Nationwide The U.S. Treasury Department's State Small Business Credit Initiative (SSBCI) this week issued its latest quarterly report showing that states have supported more than $835 million in loans or investments to small businesses across the country. Through SSBCI, the Treasury Department continues to help existing and new businesses access the capital they need to expand their operations and hire new workers. Since 2011, SSBCI has disbursed much needed funds to participating states, municipalities, and U.S. territories to support private loans and investments. Under the program, each state designs its own small business support programs to respond to local economic conditions. Some of the many examples of SSBCI funds at work include:  In Alabama, SSBCI funds helped a wireless communication services company, Pine Belt Communications, Inc. obtain a $5 million loan with a 50 percent  loan guarantee to construct cell towers and expand wireless communications services in the state. These funds also helped Pine Belt create ten new jobs and retain eight.   In Washington State, SSBCI funds and a local partner, Craft3, provided a $1 million loan to JP Frances and Associates, a mechanical contracting company, which allowed them to create four new jobs and retain 17. (photo below)     In Kansas, Network Kansas used $63,000 SSBCI funds to leverage $788,000 in private investment for JCB Laboratories to build a new facility to manufacture injectable pharmaceuticals.    Investments like these contribute to the economic recovery and help create jobs in communities. SSBCI was created when President Obama signed into law the Small Business Jobs Act of 2010 on September 27, 2010.  The Treasury Department will award up to $1.5 billion in SSBCI funds to programs that support small businesses.  To learn more about SSBCI please read the quarterly report, and for more information about the Treasury Department's small business programs, please visit: www.treasury.gov/smallbusiness.   Jessica Milano is Deputy Assistant Secretary for Small Business, Community Development, and Housing at the United States Department of the Treasury.     Questions? Contact Us   STAY CONNECTED:   SUBSCRIBER SERVICES: Manage Preferences  |  Unsubscribe  |  Help This email was sent to iammejtm@gmail.com using GovDelivery, on behalf of: U.S. Department of the Treasury · 1500 Pennsylvania Ave NW · Washington, DC 20220 · 202-622-2000

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Jeremy Tobias Matthews