State Receives 2nd Phase Of Small Business Funding
Kentucky is to receive additional funding to help small businesses that fall short of credit standards.
Governor Steve Beshear's office announced yesterday the state has an additional $5.1 million dollars in a second disbursement from the U.S. Treasury Department's State Small Business Credit Initiative.
The state was awarded a total of $15 point 4 million in July 2011 and is receiving the funding in three disbursements.
The credit initiative works with participating lenders, who can use three options to strengthen loan requests that fall just outside acceptable underwriting standards.