Feds Target Growth in Underserved Markets
The Small Business Administration this fall is hoping to spur small-business growth in inner city and rural areas through a series of programs and activities, the agency announced this week.
On Thursday, the SBA unveiled its Rural Lender Advantage initiative, which aims to encourage smaller community banks and credit unions to partner with the agency in boosting access to capital for entrepreneurs in underserved markets. The initiative will be tested in six states, including Montana, North Dakota, South Dakota, Wyoming, Utah, and Colorado.
In the months ahead, the agency plans to launch additional initiatives, including programs to improve entrepreneurial literacy in inner city communities and assist emerging inner-city businesses.
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