The U.S. Department of the Treasury approved Connecticut”™s application for federal funding under the State Small Business Credit Initiative, which could spur some $133 million in small-business lending here.
First authorized under the Small Business Jobs Act of 1010, the program gives Connecticut access to more than $13 million in funds, which the state is plowing into its existing Capital Access Program. That program provides loan portfolio insurance to encourage banks to lend to creditworthy small businesses; officials say the program could draw as much as $10 in private sector lending for every dollar committed in government funding.
”“ Alexander Soule
Malloy taps Flatto
Gov. Dannel P. Malloy appointed Fairfield”™s First Selectman Kenneth Flatto as executive director of the Connecticut Division of Special Revenue, which oversees the Connecticut Lottery and collects gambling contributions from the Foxwoods and Mohegan Sun casinos.
Flatto replaces Paul Young who has held the post since 2004, one of the two longest tenures in the department”™s four-decade history.
”“ Alexander Soule
