|Economic status of counties in Appalachia|
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The commission "made a lead investment of $3.45 million in equity and operating support" and regional lending partners raised the additional $12 million, it reports. Of that money, $7 million has already been approved for loans to participating community loan funds. By October "ACC plans to deploy 90 percent of the capital to community lenders for small business loans."
"Appalachian small businesses receive only 82 percent of the loans of their counterparts nationally, while businesses in Appalachia's economically distressed counties receive less than 60 percent of the loans of their national counterparts," the commission reports.