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Economic Development Bank

State Small Business Credit Initiative

The State Small Business Credit Initiative Program was created by the 2010 Small Business Jobs Act to support small business lending and encourage financial institutions to be more aggressive in their lending activities.

Maximum Enhancement Amounts

  • Collateral Support Program – Up to 50% limited to $500,000 per borrower
  • Credit Guarantee Program – Up to 50% of loan or project cost
  • Payment, Performance, Surety Bond Program – Up to 30%

Proceeds of the loan can be used for, but are not limited to: