WASHINGTON, D.C. — Thursday, U.S. Sen. Sherrod Brown (D-OH), chair of the Senate Banking Subcommittee on Financial Institutions and Consumer Protection, announced the availability of more than $18 million in new federal funding to help Ohio small business and manufacturers grow operations and create jobs by increasing access to available credit. The funding will be made available through the U.S. Treasury Department’s State Small Business Credit Initiative (SSBCI), a program Brown worked to include as part of the Small Business Jobs Act of 2010.
“Small businesses and manufacturers are the backbone of Ohio’s economy,” Brown said. “But in order for these companies to grow operations and create new jobs, they must have access to capital. These new federal resources will provide an immediate boost to Ohio small businesses and help leverage additional private investments – many from local community banks –to help add jobs throughout Ohio.”
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