North Carolina to receive $201M in American Rescue Plan funds to support small businesses

The U.S. Department of the Treasury has approved North Carolina’s request for $201.9 million to support small businesses as part of the American Rescue Plan.

The Biden administration’s American Rescue Plan reauthorized and expanded the State Small Business Credit Initiative, which was established in 2010, by providing nearly $10 billion to states, the District of Columbia, territories and Tribal governments "to increase access to capital and promote entrepreneurship, especially in traditionally…

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