Reuters
The U.S. Treasury Department said on Friday it approved four additional state plans for the State Small Business Credit Initiative worth $750 million, bringing total approvals under the COVID-19 recovery venture capital program to $2.25 billion. The state plan approvals announced on Friday for New York, Colorado, Oregon and Montana include a variety of venture capital funds, loan participation programs, loan guarantees and collateral support programs to make capital more accessible to small firms and entrepreneurs. New York state was approved for up to $501.5 million, including a capital access program, loan guarantees, loan participation and venture capital programs, the Treasury said.