WASHINGTON, DC--Congresswoman Marcia L. Fudge (OH-11) made this statement in reference to funds awarded from The U.S. Department of the Treasury to the state of Ohio through the State Small Business Credit Initiative, allowing Ohio to access $55.1 million in federal money to encourage small business lending.

"Small businesses are the cornerstone of our economy, providing a place for constant innovation and growth. I've heard from many business owners in my district about negative impacts from the tightening of the credit market. They need to have the ability to secure loans in order to create or expand their enterprise. It's these people who will spur job growth and help rebuild our economy one job at a time."

Under the program, each dollar of funding is expected to leverage $10 in private lending. As a result, Ohio is expected to support more than $551 million in new private lending.

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