U.S. Department of the Treasury Awards $10 Million to California to Help Small Businesses Grow and Hire

WASHINGTON – Today, the U.S. Department of the Treasury (Treasury) announced that the California Office of the Small Business Advocate is being awarded $10 million to support small business growth through the Biden-Harris Administration’s State Small Business Credit Initiative (SSBCI) Investing in America Small Business Opportunity Program (SBOP). California’s initiative will be supported by $16.25 million in matching funds.Part of the Biden-Harris Administration’s economic agenda, this $75 million program provides funding to connect underserved and very small businesses to the capital needed to participate in key Investing in America supply chains, including electric vehicle manufacturing, semiconductor manufacturing, construction, transportation, clean energy generation, and more.