Vice President Harris, Treasury Department Announce New Funding for Historically Underserved Entrepreneurs in North Carolina as part of Administration’s Strategy to Invest in American Small Businesses

State Small Business Credit Initiative funding represents the most widespread federal investment in small business through equity capital ever and the largest direct infusion of federal funds for equity participation in early-stage small businesses in historyDURHAM, NC – Today, Vice President Kamala Harris, Deputy Secretary of the Treasury Wally Adeyemo, and North Carolina Governor Roy Cooper are announcing North Carolina’s award of $32 million in federal funds from the American Rescue Plan (ARP) to 10 venture capital firms under the Treasury Department’s State Small Business Credit Initiative (SSBCI). SSBCI is the most widespread federal investment in small businesses through equity capital ever and the largest direct infusion of federal funds for equity participation in early-stage small businesses in history.