WASHINGTON (April 18, 2014) — The U.S. Department of the Treasury has transferred nearly $18.2 million to Ohio to support the state's three major small business lending programs.
The programs to be funded are Ohio's Collateral Enhancement Program, Ohio Capital Access Program and Targeted Investment Program, according to Treasury. Ohio will use the funds to leverage greater levels of private lending and investing in small businesses located on Ohio, it said.
Treasury made the transfer of funds through its State Small Business Credit Initiative (SSBCI). President Barack Obama requested a $1.5 billion extension of SSBCI in his most recent budget request, according to the agency.