When President Obama signed the Small Business Jobs Act last week, there was an understandable focus on its eight new tax cuts, the $30 billion Small Business Lending Fund, and its provision to more than double the maximum size of Small Business Administration loans. But one item that seemed to get far less attention may provide some of the biggest benefits: The State Small Business Credit Initiative – a program to support $15 billion in lending through innovative public-private partnerships facilitated by states from coast to coast.
The State Small Business Credit Initiative is not a one-size-fits-all program. Rather, it provides states with the flexibility to strengthen a wide range of initiatives that they have designed to respond to local economic needs – from the manufacturing sector to hard-hit urban areas to rural communities – provided that they lead to $10 of private sector lending for each dollar of public funds invested.
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Hillary Clinton
Dick Cheney
Al Gore
Richard Shelby
Jeff Sessions
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