ST. LOUIS (AP) - Missouri will have access to $26.9 million in State Small Business Credit Initiative funds, money that Gov. Jay Nixon says will help spur small business growth and create jobs.
The U.S. Treasury Department and Nixon announced the approval of Missouri's application for the loan program on Tuesday.
The SSBCI program supports state-level, small business lending programs. Nixon says it should create more than $269 million in additional small business lending in Missouri.
Missouri's plan dedicates $16.9 million of the money to promote the formation and growth of high-tech businesses. The other $10 million is for a program that supports industrial, commercial, agricultural and recreational sectors.
Missouri businesses can begin applying for the loans April 8.