CREC Project News and Updates

CREC Meets with SSBCI Management in Reno, Nevada

July 1, 2015

Martin Romitti, joined by James Clark from the U.S. Treasury traveled to Reno, Nevada to meet with the Program Managers for the Nevada State Small Business Credit Initiative (SSBCI).

The trip focused on gaining intelligence from the program managers and other high level officials from the Nevada Governor’s Office of Economic Development 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 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.