Michigan has been approved for up to $236 million in State Small Business Credit Initiative (SSBCI) Funding from the U.S. Department of Treasury, one of only five states to receive funding through this round of awards. The funding is designed to increase the availability of capital to small businesses through loans and equity investments that would otherwise not be available in the market through conventional terms. The program requires partnership with private sector lenders, equity investors, and technical assistance providers.
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