LANSING – In early June, Governor Gretchen Whitmer joined the Michigan Economic Development Corporation to announce that Michigan has been approved for up to $237 Million in State Small Business Credit Initiative (SSBCI) funding from the U.S. Department of Treasury.
Small businesses hit hard by the pandemic-induced recession can apply for some of these funds through private lenders and the MEDC would back the loans through the SSBCI program.
Chris Cook, Director of Capital Access at the MEDC, explains in this video interview how the program works, which businesses can apply, and how the process will play out in the months to come.
To find out more, click on Capital Access
