Florida gets 100 million to increase lending to businesses

Florida is getting nearly 100 million dollars in federal funding to provide loans to help start new businesses and expand existing ones.

Senator Bill Nelson announced the Small Business Credit initiative earlier this week.

Enterprise Florida will get half of the money for a venture-capital fund.

The rest will go to the state's Office of Tourism Trade and Economic Development to assure lenders they will be repaid for loans made to Florida businesses.

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