FLINT, Mich. (AP/WLNS) – The U.S. Small Business Administration is making more money available to Flint business owners affected by the city’s lead-tainted water crisis.
The agency says it will direct $100,000 in loans toward Flint and make another $100,000 available for training and technical assistance to disadvantaged entrepreneurs.
That and other help was announced Friday during a visit by SBA Administrator Maria Contreras-Sweet to Flint. Contreras-Sweet is a member of President Barack Obama’s cabinet.
SBA officials also will meet with money managers, private equity firms and banks to encourage fund managers to invest in small businesses in Flint as part of its disaster assistance for the city.
Earlier this month, the agency approved Gov. Rick Snyder’s request for low-interest disaster loans for businesses in the area.