The Georgia State Small Business Credit Initiative program is providing $48 million in funding to credit unions and other lenders to help approve more small business loans.
The program aims to provide credit enhancements to help bridge the gaps that otherwise prevent the approval of sound small business loans, according to the Georgia Department of Banking and Finance.
The agency said the SSBCI is flexible and streamlined for lenders, with a delegated lending model that minimizes risk, lowers exposure, strengthens marginal loans, and offers opportunity for Community Reinvestment Act credit, the department said.
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