The Treasury Department announced a $1.5 billion lending package to boost small businesses at the state level.

The money will be available to states that can demonstrate that they will generate $10 in new private lending for every dollar of federal funds they receive, Reuters said. This could create a package worth a total of $15 billion.

California will receive $168.62 million, with Florida receiving $97.66 million. New York and Ohio will each get slightly more than $55 million.

The states can use the funds to provide collateral support for small businesses or guarantee small business loans.




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pwcasemaker1

Amazing, and with Ted Strickland in charge of Ohio's money, how much do you think will get to the small business owners?

October 08 2010 at 6:55 AM Report abuse rate up rate down Reply