CREC Project News and Updates

CREC Travels to Chicago, Illinois

March 4, 2015

Ron Kelly met with program managers running lending and venture capital programs for the Illinois Development of Commerce and Economic Opportunity in Chicago, Illinois. These programs are funded through the U.S.. Treasury’s State Small Business Credit Initiative.

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 venture capital programs.