The State Small Business Credit Initiative was in effect yesterday as Connecticut, Missouri, and Vermont were approved to receive money to lend to small businesses. The three states join California, Michigan, and North Carolina in benefiting from the Small Business Jobs Act. This is a good thing for those who currently own small businesses or are looking to start their own small business.
The Small Business Jobs Act, which was passed last year helps small businesses in a number of ways. A few key benefits include an increase in the maximum loan size for SBA loan programs, a larger support of lending through the State Small Business Credit Initiative, and several tax cuts for small businesses.
Does your business qualify for one of these loans?
You’ll get a interesting opportunity to find out if you attend one of the many Jobs Act Tour events organized by the SBA. These events are designed for you to let the SBA know what you think of the Jobs Act and the Credit Initiative, while meeting with the leaders and learning more about what the Jobs Act means to you.
[CC photo courtesy of Salim Virji]