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.




Increase your money and finance knowledge from home

What is Inflation?

Why do prices go up?

View Course »

How to Buy a Car

How to get the best deal and buy a car with confidence.

View Course »

Add a Comment

*0 / 3000 Character Maximum

1 Comment

Filter by:
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