{"id":1568988,"date":"2022-07-24T23:52:04","date_gmt":"2022-07-25T03:52:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1568988"},"modified":"2022-07-24T23:52:06","modified_gmt":"2022-07-25T03:52:06","slug":"treasury-approves-940-million-in-small-business-capital-funds-for-9-states","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/treasury-approves-940-million-in-small-business-capital-funds-for-9-states\/","title":{"rendered":"Treasury Approves $940 Million in Small Business Capital Funds for 9 States"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftreasury-approves-940-million-in-small-business-capital-funds-for-9-states%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1568988&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>WASHINGTON\u2014The Treasury Department said it approved nine state plans for the State Small Business Credit Initiative worth $940 million, bringing total approvals under the COVID-19 recovery venture capital program to $1.5 billion.<\/p>\n<p>The $10 billion SSBCI program aims to address a shortage of capital for new business startups and other small business development, particularly in disadvantaged communities, by attracting $10 of private investment for every $1 of taxpayer funding. It was reauthorized and expanded as part of last year\u2019s $1.9 trillion American Rescue Plan Act.<\/p>\n<p>The <a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy0875\">state plan approvals<\/a> announced on July 18 include a variety of venture capital funds, loan participation programs, loan guarantees, collateral support programs, and portfolio insurance to make capital more accessible to small firms and entrepreneurs.<\/p>\n<p>Connecticut was approved for up to $119.4 million to launch two new venture capital funds supporting entrepreneurs from \u201cunderserved and diverse backgrounds\u201d and a climate technology fund for \u201cclean energy, environmentally safe manufacturing, and climate resiliency.\u201d<\/p>\n<p>Pennsylvania was approved for up to $267.8 million, Alabama for up to $111 million, South Carolina for up to $101.3 million, Indiana for up to $99.1 million, Maine for up to $62.2 million, New Hampshire for up to $61.5 million, South Dakota for up to $60 million, and Vermont for up to $57.9 million.<\/p>\n<p>The funds are released in tranches, with each subsequent disbursement dependent on meeting performance targets from prior funds.<\/p>\n<p>A Treasury official said that there was now a \u201cstrong pipeline\u201d of additional state plans that were close to being approved, and the Treasury hopes to be finished reviewing all state applications by late summer.<\/p>\n<p>   <a href=\"https:\/\/www.theepochtimes.com\/author-reuters\"><\/a> <\/p>\n<p>Follow<\/p>\n","protected":false},"excerpt":{"rendered":"<p>WASHINGTON\u2014The Treasury Department said it approved nine state plans for the State Small Business Credit Initiative worth $940 million, bringing total approvals under the COVID-19 recovery venture capital program to $1.5 billion. The $10 billion SSBCI program aims to address a shortage of capital for new business startups and other small business development, particularly in [\u2026]<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1568988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1568988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1568988"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1568988\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1568988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1568988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1568988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}