Under the initiative states will be given federal funds to help finance small businesses. South Dakota Senator Tim Johnson announced that South Dakota's State Small Business Credit Initiative has been approved. The state will be able to access 13 point 2 million dollars of the 1 point 2 billion dollars in the total national funds.

The state expects to generate at least ten dollars for every one dollar of federal funding. In a press release Senator Johnson said quote "Small businesses are the engines of our economy and this funding will help provide them the fuel they need to expand and grow" end quote.

JIm Peterson