LOUISVILLE, Ky. (WDRB) -- Kentucky will soon receive millions of dollars in federal money to help small businesses.
The state is getting $117 million to use over the next decade as part of President Biden's American Rescue Plan. Kentucky Gov. Andy Beshear said the funds will be used for loan guarantees to help small businesses get off the ground and to provide venture capital investments to Kentucky-based startups.
Beshear said the loan guarantees, "will impact the economics of when loans can be provided" by ensuring that owners of solid small businesses who "just need a little extra help" can get the resources they need.
Kentucky's funding is part of the $7 billion provided to states to support small businesses and entrepreneurship through the 2021 Rescue Plan.
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