Small Business Administration wants to help Flint businesses recover from water crisis
The federal Small Business Administration is expanding its effort to help Flint recover from its drinking water crisis.
Maria Contreras-Sweet is the SBA administrator. She met with business leaders in Flint on Friday. She told them the SBA plans to expand operations in Flint.
“$100,000 is going to help them staff up and then the other funds will help them expand their revolving fund,” says Contreras-Sweet.
Earlier this month, the agency approved Gov. Rick Snyder's request for low-interest disaster loans for businesses in the area.
SBA officials also are encouraging fund managers to invest in small businesses in Flint as part of its disaster assistance for the city.