CREC Project News and Updates

CREC Visits PDCED in Harrisburg, Pennsylvania

April 29, 2015

Ron Kelly, joined by George Surgeon, met with program staff for the Pennsylvania Department of Community and Economic Development (PDCED) small business lending programs funded by the U.S. Treasury’s State Small Business Credit Initiative (SSBCI).

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.