CREC Project News and Updates

CREC Meets with SSBCI Management in Columbus, Ohio

March 11, 2015

Martin Romitti joined by David Rixter, from the U.S. Treasury Department, traveled to Columbus, Ohio to gain intelligence from high-level officials from the Ohio Development Services Agency (ODSA) involved with the initial application and eventual use of funds, with the goal of using this information to refine the approach for a final evaluation of the overall State Small Business Credit Initiative (SSBCI) program.

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.