Maine is one of nine states that have been approved for a piece of nearly $10 billion in relief money being distributed by the federal government to promote small business growth.

The Treasury Department on Monday announced the approval of the plans. The money is part of the State Small Business Credit Initiative, established in 2010 and reauthorized under the American Rescue Plan to support state programs that help small businesses access capital as they emerge from the pandemic.

Maine will receive $62.2 million.

Treasury Secretary Janet Yellen called it a “historic investment” that will promote equitable economic growth across the U.S.