CREC Project News and Updates

CREC Meets with Stakeholders in Florida

November 19, 2014

Ken Poole traveled with consultant, George Surgeon, and partners, Cromwell & Schmisseur to meet with Florida State Small Business Credit Initiative program managers. The purpose of the trip was to develop a strategic blueprint for the state’s investments in lending and venture financing programs as a result of the Treasury SSBCI program. This is the first step in a process designed to support the Treasury Department in a major program evaluation it hopes to complete by 2017.

On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010. The Act created the State Small Business Credit Initiative, which was funded with $1.5 billion to strengthen state programs that support lending to small businesses and small manufacturers. The State Small Business Credit Initiative will allow states to build on successful models for state small business programs, including collateral support programs, Capital Access Programs (CAPs) and loan guarantee programs.