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NEWS RELEASE
For Immediate Release
Full Spectrum Solutions, Inc. Invited by the Michigan Economic Development Corporation to
Attend Event Announcing Small Business Credit for Michigan
Jackson, MI– January 20, 2011 – On Friday, January 14th, Gov. Rick Snyder and U.S. Treasurer Rosie Rios announced that small businesses in Michigan will be able to tap into approximately $80 million in loans through the State Small Business Credit Initiative program, which is a part of the Small Business Jobs Act that was signed by President Obama in September 2010.
The goal of the federal program, administered by the MEDC through its Michigan Business Growth Fund and Capital Access Program, is to help small businesses obtain loans of at least $10 for every dollar the state provides in support. That means the $80 million of federal money will generate approximately $800 million in loans.1
"The MEDC recently approved a $5 million loan to us through their Michigan Collateral Support Program," stated Michael Nevins, President/CEO of Full Spectrum Solutions, Inc. "We were happy that the MEDC invited us to the recent event not only to meet public officials, such as Gov. Rick Snyder, U.S. Rep. Gary Peters, and U.S. Sen. Debbie Stabenow, but also to support the growth of small businesses in Michigan."
The MEDC touches, assists and helps grow thousands of Michigan businesses each year. Whether it's a new venture, an expansion, a relocation, or even a concern with another agency of state government, the MEDC can help. They supply customized economic development services to help companies and communities find success in a very competitive global economy.2
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