Federal Reserve Bank of San Francisco

Community Development

State Small Business Credit Initiative Roundtable

Thursday, February 28, 2013
State Office Tower
235 S. Beretania Street, 4th Floor
Conference Room 405
Honolulu, HI 96813
2:00 pm - 4:00 pm

There is no cost to attend, but advanced registration is required.

Contact

Craig Nolte
Federal Reserve Bank of San Francisco
(206) 396-2192

This roundtable to be held in Hawaii is intended to educate participants about the benefits of the State Small Business Credit Initiative program. On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010 (the “Act”). The Act created the State Small Business Credit Initiative, which was funded with $1.5 billion to strengthen state programs that support lending to small businesses and small manufacturers. The State Small Business Credit Initiative is expected to help spur up to $15 billion in lending to small businesses. Under the State Small Business Credit Initiative, participating states will use the federal funds for programs that leverage private lending to help finance small businesses and manufacturers that are creditworthy, but are not getting the loans they need to expand and create jobs. The State Small Business Credit Initiative will allow states to build on successful models for state small business programs, including collateral support programs, Capital Access Programs (CAPs) and loan guarantee programs. Existing and new state programs are eligible for support under the State Small Business Credit Initiative.

Community Bankers and Lenders, State and Territory economic development agency representatives are all encouraged to attend this meeting to learn about they can help meet the credit needs of small businesses through participating in the State Small Business Credit Initiative. Presenters will be discussing how the program can help financial institutions extend more credit to small businesses in Guam, and Hawaii Strategic Development Corporation’s $13 million allocation to invest in Hawaii businesses.

Sponsors

  • Federal Reserve Bank of San Francisco