- Associated Press - Wednesday, May 21, 2014

MONTPELIER, Vt. (AP) - The U.S. Treasury Department is giving more than $4.4 million in State Small Business Credit Initiative funds to the Vermont Economic Development Authority to help local businesses.

The authority will use the funds to leverage greater levels of private lending to small businesses by partnering with community banks.

Vermont has participated in the program since 2011. The more than $4.4 million is the third payment to the authority, totaling more than $13 million to help support businesses and the local economy.

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