The money would be targeting to help workers considering self-employment as well supporting local small businesses who had contracts supplying the factory.
With the same act, I would be supporting a new class of micro-entrepreneurs creating a lifestyle of self-sufficiency, rather than one of aid-dependence.
There would be no need to review loan applications from (e.g.) adults that have been self-supporting for 20 years and need to use their citizen line of credit to tide them over during a period of unemployment.