Source: North Carolina Public Radio
RALEIGH, NC – According to a federal treasury department statement, North Carolina will use the funds to “operate three different programs, including a loan participation program to which it has allocated $160 million.”North Carolina small businesses will soon get a financial leg up from the federal government. The U.S. Treasury Department announced it has approved the state’s application for funding under the State Small Business Credit Initiative (SSBCI).
North Carolina is now slated to receive up to $202 million to “promote small business growth and entrepreneurship.” The SSBCI program is funded through the federal COVID-19 relief package known as the American Rescue Plan. [READ MORE]