Second only to California in the amount of federal funds received via the State Small Business Credit Act, Michigan is parlaying this cash infusion into industry diversification and job creation at a commendable rate.
Excerpt:
"Since 2011, Michigan has distributed $79.4 million from the
State Small Business Credit Initiative (SSBCI), a federal program established a year earlier in the aftermath of the Great Recession and modeled after a state of Michigan program to bolster the collateral position of manufacturing companies. Federal funds dispersed to small business and local lenders have been used to finance more than $420 million in new private investment and create 4,600 jobs in Michigan, according to MEDC estimates."
More
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