By AP
DETROIT –
U.S. Treasurer Rosie Rios on Friday announced the first funding of the program in Detroit with Republican Michigan Gov. Rick Snyder. Michigan is getting $79.1 million under the program and North Carolina is getting $46.1 million.
Funding for other states is expected to be announced later.
They were joined by U.S. Sen. Debbie Stabenow and Congressman Gary Peters, both Michigan Democrats, at United Metal Products, a metal stamping facility.
The loan program is part of the Small Business Jobs Act that was signed in October by President Barack Obama.