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Biz2Credit Advisor
The Ohio stimulus spending went to supplement public assistance programs for the poor. This is according to data gathered by nonprofit investigative news agency ProPublica.
‘American Reinvestment and Recovery Act 2009′ amounting to $840 billion has now started to wind down. Recovery Accountability and Transparency Board paid out $100 billion. Almost $16.8 billion has been injected in Ohio since the passing of the bill on Feb 17, 2009. More than $4.5 billion fund has been provided to assist the State in paying medical bills and meeting the Supplemental Nutrition Assistance Program.
Last year, the State government received $2.1 billion from its stimulus funded sources. Ohioans received $1 billion as Medicaid and $382 million went as assistance to buy food. It is because of the stimulus fund that 101 small businesses got loans either directly or insured by government. About 79 businesses could earn work contracts amounting to $20 million from several stimulus sources.
Excello Fabric Finishers and Buckeye Fabric Finishing received $43,627 grant for its functioning. Economy Linen and Towel Service got $500,000 grant for upgrading equipment at Zanesville facility.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to info@biz2credit.com
TAGS 101 Small Businesses, American Reinvestment and Recovery Act 2009, Buckeye Fabric Finishing, Economy Linen and Towel Service, Excello Fabric Finishers, Ohio Stimulus Spending, ProPublica, Public Assistance Programs, Recovery Accountability and Transparency Board, Stimulus Fund, Supplemental Nutrition Assistance Program
CATEGORIES Credit Reports
