W.Va. gets $13M in small business funding

AP News
Posted: Dec 16, 2011 12:58 PM
W.Va. gets $13M in small business funding

Small businesses in West Virginia will soon have access to new loan money that can be used to invest, expand and create jobs.

Gov. Earl Ray Tomblin and the state's congressional delegation said Thursday that the U.S. Department of the Treasury approved West Virginia's application for State Small Business Credit Initiative funding.

Tomblin's office says the approval will give West Virginia access to more than $13 million in federal money to fund new small business lending programs.

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Officials say small businesses account for more than 90 percent of the employers in the state. These programs will enable small businesses to leverage new capital and credit to create private sector jobs.