State Small Business Credit Initiative gets approval from the U.S. Treasury, reports Reuter’s. 

The U.S. Treasury Department said on Friday it approved four additional state plans for the State Small Business Credit Initiative worth $750 million, bringing total approvals under the COVID-19 recovery venture capital program to $2.25 billion.

According to CNN, the continued labor shortage is negatively affecting many small businesses. 

The pandemic forced Freed Bodyworks, a wellness center offering massage therapy, yoga, acupuncture, mental health counseling and other services, to shut down for four months.

A new survey by UpCity shows that small businesses are still concerned about a recession reports Yahoo Finance.

With the latest news that GDP fell 0.9% in the second quarter, recession fears have been fueled by business owners and consumers alike. UpCity has announced the results of a survey that reviews plans from SMB owners to share how they’re preparing for the unknown.