16 Dec 2010

American Samoa keen to apply for Small Business Credit Initiatives funding

11:44 am on 16 December 2010

American Samoa has submitted to the US treasury a notice of intent to apply for funding under the state Small Business Credit Initiatives.

Fifteen billion US dollars is available in new small business lending under the Small Business Jobs Act that President Barack Obama signed into law in October.

American Samoa is eligible for 13-point-5 million US dollars and had to submit notice of intent to apply by November 26.

The territorial government must next submit an applicationfor funding by June 26, 2011.

All 55 states and territories met the deadline.