Localizing the State Small Business Credit Initiative

Bruce J Katz; Ian O'Grady; Colin Higgins

doi:10.17918/00010522

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Localizing the State Small Business Credit Initiative

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Localizing the State Small Business Credit Initiative

Bruce J Katz, Ian O'Grady and Colin Higgins

28 Jul 2021

DOI:

https://doi.org/10.17918/00010522

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Abstract

Small business relief has been a key component of the federal government’s historic investments to preserve Americans’ health and livelihoods over the past year and a half. The Paycheck Protection Program alone has issued $800 billion in forgivable loans, which, by comparison, represents nearly 20% of the whole federal government’s budget for Fiscal Year 2019. While the initial rollout was chaotic, these resources were vital for keeping many small businesses afloat through the pandemic. As our national outlook now shifts from economic relief to recovery, the most significant program in terms of follow-on investment and inclusive growth is set to come online this summer: the Treasury will begin accepting applications from states for the State Small Business Credit Initiative (SSBCI).

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Title: Localizing the State Small Business Credit Initiative
Creators: Bruce J Katz - Drexel University, Lindy Institute for Urban Innovation
Ian O'Grady
Colin Higgins
Publisher: Nowak Metro Finance Lab, Drexel University; Philadelphia, PA
Number of pages: 12
Resource Type: Report
Language: English
Academic Unit: Nowak Metro Finance Lab; Lindy Institute for Urban Innovation
Other Identifier: 991021902029204721

Localizing the State Small Business Credit Initiative

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