Dayton says $100M to spur small businesses lending

ST. PAUL, Minn. (AP) — Gov. Mark Dayton is following up his jobs summit by announcing $100 million in new funding for a program that fosters small business loans.

In a statement Wednesday, the governor says it doubles the money going to the program, which steers money to banks that can then lend it to businesses.

Dayton says the program will spur investment in job creators that are vital to the state’s economy.

Dayton says small businesses have repeatedly complained that investment capital and credit have become harder to get, and it’s hurting growth.