Maryland has received $7.6 million from the U.S. Treasury Department to support small business financing programs.
The award to Maryland's Department of Business and Economic Development is part of the State Small Business Credit Initiative (SSBI), a $1.5 billion treasury department program launched in 2010. The federal government has committed to $23 million in SSBI funding to Maryland, to be awarded in three tranches. The $7.6 million award announced Wednesday is the second tranche and brings the total funding Maryland has received through the program to $15 million since 2011.