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Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
State Small Business Credit Initiative: Idaho's Use of Federal Funds for its Collateral Support Program

State Small Business Credit Initiative: Idaho's Use of Federal Funds for its Collateral Support Program

Paperback

Management

ISBN10: 150337663X
ISBN13: 9781503376632
Publisher: Createspace
Published: Jan 3 2015
Pages: 26
Weight: 0.19
Height: 0.05 Width: 8.50 Depth: 11.02
Language: English
We determined that Idaho appropriately used the $9.6 million in SSBCI funds that we tested. However, $1.3 million10 financed bridge loans to businesses approved for Small Business Administration (SBA) CDC/504 loan program. Because the SSBCI-supported loans provided interim financing until the SBA loans could be secured, the transactions were permissible under SSBCI Policy Guidelines. However, Treasury's reporting of estimated jobs created or retained as a result of the interim SSBCI loans may duplicate data reported by the SBA loan program.

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