A popular low-interest loan program for small businesses will continue for another fiscal year after receiving fresh funding approval, the state treasury announced this week.
The program, which has issued more than four thousand loans since it launched, is credited with helping many independent retailers and restaurants survive recent economic pressures.
Officials say the extension includes a streamlined application process aimed at cutting average approval times roughly in half.
Applications for the next funding round open in early October, with priority given to businesses in historically underserved neighborhoods.
