State Small Business Credit Initiative

Ken Hart North Region Small Business Liaison Officer 609-858-6661.

State small business credit initiative. The State of NJ site may contain optional links information services andor content from other websites operated by third parties that are provided as a convenience such as Google Translate. The Small Business Credit Initiative offers small businesses three innovative small business loans programs designed to help them grow and expand statewide. Google Translate is an online service for which the user pays nothing to obtain a purported language translation.

Created as part of the Small Business Jobs Act of 2010 SSBCI was designed by the federal government to help states strengthen existing loan and equity programs andor create new programs that support financing small businesses. The New Jersey Small Business Development Centers NJSBDC consist of recognized business leaders that provide management consulting and training programs to entrepreneurs start-ups and existing small businesses as well as specialized and more advanced services to high-impact growth-oriented businesses. Treasury is responsible for overseeing an estimated 4 billion in SBLF program funds and 15 in SSBCI funds distributed to financial institutions.

A lesser-known program the State Small Business Credit Initiative SSBCI was created as part of the Small Business Jobs Act of 2010. SSBCI was funded with 15 billion which was allocated among 57 states territories and local governments to be used in new or existing small business development programs. As a result of these facts and the fact that small business development is a key factor to employment recovery the Governors Office of Economic Development GOED believes the small business sector requires additional funding to assist small businesses with entrepreneurial training technical assistance and access to loans for new and.

The SSBCI Loan Participation Program enables small businesses in South Carolina to obtain short to long-term financing to help businesses grow and expand ultimately creating and retaining jobs in South Carolina. In GovTrackus a database of bills in the US. To establish the State Small Business Credit Initiative and for other purposes.

Small Business Liaison Officer 609-858-6086 se habla español. Understanding Personal Credit Scores Webinar. The Act created the State Small Business Credit Initiative funded with 15 billion to strengthen state lending programs that support small businesses and manufacturers.

A departure from federal credit programs with uniform requirements SSBCI gave states significant flexibility to design programs that met local market conditions. Small Business Development Centers and Womens Business Centers that provide additional business counseling. The SSBCI provided capital to small businesses at a time when small-business lending and equity investment had fallen sharply.