CREC Project News and Updates

CREC Guest Lectures Economic Development Course at Virginia Tech

April 15, 2016

Ron Kelly guest lecturers in Dr. Maggie Cowell’s Local Economic Development Planning course at Virginia Tech.

Kelly was joined by David Rixter, Outreach Manager at U.S. Treasury’s State Small Business Credit Initiative (SSBCI) in a discussion about community development finance, including how state small business finance programs funded through SSBCI assisted low- to moderate-income communities.

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.