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Delegation Announces More than $2.9 Million in Loans to Boost Small Businesses in North Dakota
Funding Will Help Small Businesses Grow and Hire
Washington,
Oct 7 -
Congressman Earl Pomeroy and Senators Kent Conrad and Byron Dorgan announced today that the U.S. Small Business Administration will provide a total of $2,954,800 in federal loans to seven small businesses across North Dakota.
The funding for the loans is a result of the Small Business Jobs Act, which was signed into law on September 27, 2010 to give the nation’s small businesses access to capital to help them grow and hire.
"The economic downturn created a climate where it is challenging for many small businesses to secure access to capital. But it is these small businesses, and the jobs they create, that will help put America's economy back on track. Small businesses are the engines driving the economy and it is vital that they receive the support necessary to thrive and grow," the delegation said in a joint statement.
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