Biden-Harris Administration’s State Small Business Credit Initiative Supports Small Manufacturing Businesses Across the US: New Report Highlights Impact

The Biden-Harris Administration has released a report highlighting the State Small Business Credit Initiative’s support for small manufacturing businesses across the US, particularly in expanding access to capital. The Treasury Department’s SSBCI program is providing nearly $10 billion to states, territories, and Tribal governments to increase access to capital and promote entrepreneurship, especially in traditionally underserved communities as they emerge from the pandemic. SSBCI funding is expected to catalyze up to $10 of private investment for every $1 of SSBCI capital funding. The White House also released a fact sheet detailing how the Investing in America agenda is encouraging the fastest manufacturing recovery since the 1950s.