CREC Project News and Updates

CREC Travels to Columbia, South Carolina

January 28, 2015

Ron Kelly and David McGrady meet with program administrators from the South Carolina Business Development Corporation in Columbia, South Carolina. The South Carolina Business Development Corporation is the entity acting on behalf of the South Carolina Jobs-Economic Development Authority, whom is responsible for implementing the activities related to South Carolina’s State Small Business Initiative (SSBCI). The team also met with several participating banks to ascertain further insights about the program.

On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010 (the “Act”). 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 is expected to help spur up to $15 billion in lending to small businesses.