The State of Wisconsin expects to receive $80 million for development of small businesses in the state via the US Treasury’s State Small Business Credit Initiative (SSBCI). This is the second time that the SSBCI has been approved. The first time was in 2011, and the funds were invested between 2011 to 2017. The 2011 SSBCI program provided $24.5 million to the State of Wisconsin.

Early this year the State of Wisconsin submitted a proposal to the US Department of the Treasury. The proposal would create several programs for investing the funds, which would be managed by both the Wisconsin Housing and Economic Development Authority (WHEDA) and Wisconsin Economic Development Corporation (WEDC). The program is expected to be approved late 2022 and funds should be available in early 2023 for businesses.

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