Hawaii receives $4.5M to help small businesses - Hawaii News Now - KGMB and KHNL

Hawaii receives $4.5M to help small businesses

HONOLULU (AP) - The state of Hawaii received $4.5 million to help small businesses access capital to grow and create jobs.

The U.S. Treasury Department announced the funding Monday.

The money comes from a program called the State Small Business Credit Initiative. To date, that program has given $13 million to Hawaii.

The Treasury Department says more than 95,000 jobs will have been created or saved nationwide because of loans and investments made through the program.

The program was created when President Barack Obama signed the Small Business Jobs Act of 2010 into law.

Obama proposed another $1.5 billion in funding for the program in his 2015 Budget.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly