Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee and the U.S. Department of the Treasury (Treasury) announced that the California Office of the Small Business Advocate (CalOSBA) is being awarded $10 million to support small business growth through the State Small Business Credit Initiative (SSBCI), a $10 billion program Congresswoman Waters secured as part of the American Rescue Plan Act in 2021. These funds will be used to support very small businesses and minority-owned businesses across California access billions of dollars in new loans and investments, which is supported by $1.2 billion in Federal funds allocated to the state under the SSBCI.
