SD gets $4.5 million to boost small business loans - KSFY News - Sioux Falls, SD News, Weather, Sports

SD gets $4.5 million to boost small business loans

Posted: Updated:

PIERRE, S.D. (AP) - The U.S. Treasury Department is providing South Dakota with nearly $4.5 million to help a state program expand its lending program for small businesses.

The State Small Business Credit Initiative provides federal money to state agencies for lending and investing programs.

The federal money will go to the South Dakota WORKS program to leverage private loans to small business programs. The private loans often come from local community banks.

Sen. Tim Johnson, chairman of the U.S. Senate Banking Committee, says small businesses are the engines of the economy and the federal funding will help their efforts to expand and grow.

 

 

 

 

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KSFY. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service or our EEO Report.