The U.S. Department of Treasury released an interim report on October 20th on the progress the Department has made in implementing the State Small Business Credit Initiative, which illustrates how the funding has both supported the small business boom and demonstrated a historically broad reach. The interim report highlights four small businesses leveraging SSBCI funding, including The Latino Connection (TLC).
Capital Region Economic Development Corp. (CREDC) used SSBCI funds leveraged by private credit issued to purchase real estate for a new space for TLC and was able to design a credit-enhanced deal of $250,000 to support renovation and fit out of the space, the hub of the growing TLC.
Click here to read the full report.
