Congressman Jim Himes (CT-4) today released the following statement in response to the U.S. Department of Treasury's approval of Connecticut's State Small Business Credit Initiative (SSBCI) application. Connecticut's planned use of the SSBCI funds will help create new jobs and is expected to spur more than $133 million in additional small business lending in the state. The SSBCI program, which supports state-level small business programs, is an important component of the Small Business Jobs Act that Himes supported and President Obama signed into law last fall.
"Small businesses will lead any successful, long-term economic recovery, but the credit crunch has hit them especially hard," said Himes. "These loans will go a long way toward ensuring our small businesses have access to the capital they need to invest in their operations and create jobs."