Hawaii receiving money from US Treasury - Hawaii News Now - KGMB and KHNL

Hawaii receiving money from US Treasury

HONOLULU (AP) - Hawaii, Guam, American Samoa and the Northern Mariana Islands are receiving individual funding allocations from the U.S. Treasury Department to help small business.

Officials said Friday in a Washington news release that each will get $13.2 million.

The money is being made available as part of the State Small Business Credit Initiative allocations for all 50 states, the District of Columbia, and the U.S. territories.

The department says the money will support $15 billion in new small business lending through innovative local programs that help entrepreneurs expand their businesses and create new jobs.

Officials say the funding is a critical component of the Small Business Jobs Act President Barack Obama signed into law last week.

Copyright 2010 by The Associated Press. All Rights Reserved.

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