A federal pandemic aid program to boost small businesses’ access to capital is kicking off more than a year after being authorized, as companies now face high risks of inflation and the growing risks of an economic downturn.
The Treasury Department this month began distributing nearly $200 million to five states through the State Small Business Credit Initiative, a $10 billion program that transfers money to states, territories, and territories. tribal governments for programs that provide capital or encourage private lending. The initial amount will fund venture funding in Maryland and loans to small manufacturing businesses in Michigan, among other programs.
https://www.wsj.com/articles/treasury-releases-pandemic-funding-for-small-businesses-as-they-face-new-risks-11653832800?mod=pls_whats_news_us_business_f Treasury Releases Pandemic Funding for Small Businesses as They Face New Risks