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Michigan small businesses helped by Levin initiative

Senate homeland security and governmental affairs investigations subcommittee Chairman Carl Levin (D-MI) holds an iPhone as he speaks to App
Senate homeland security and governmental affairs investigations subcommittee Chairman Carl Levin (D-MI) holds an iPhone as he speaks to App

WASHINGTON, D.C. (WKZO) -- New numbers from the U.S. Treasury Department show a small business lending program authored by Senator Carl Levin has been a big help to the state. Since the State Small Business Credit Initiative was approved in 2010, just over 79-million dollars in federal investment has come into Michigan to help small businesses get needed capital.

Levin's office says the state leads the nation in that funding. Treasury data indicates for every dollar in support from the program results in $6.40 in loans and investments to small businesses.

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