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When additional information becomes available, it will be posted on the program website at Treasury.gov/SSBCI. Recent SSBCI News and Announcements from the last 60 days: Treasury Announces Approval of Up to $890.7 Million to Support Small Business Success Across Three States (3/2/2023), Treasury Announces Approval of Up to $353.4 Million to Support Small Business Success Across Four States | U.S. Department of the Treasury (2/27/2023), Treasury Announces Approval of Up to $339 Million to Support Small Business Success Across Three States and Two U.S. So whether you're looking for financing, technical assistance or just a single point of contact to help you navigate the breadth of . 4.1. Further information on how these allocations were made can be found by accessing in the Technical Assistance Grant Program Guidelines on the same page. Programs - Indiana (updated. Select the Settings link. State Small Business Credit Initiative Created as part of the Small Business Jobs Act of 2010, SSBCI was designed by the federal government to help states strengthen existing loan and equity programs and/or create new programs that support financing small businesses. These organizations provideloans and business development resources to helpborrowers create and grow sustainable businesses and generate jobs for Georgians. At that point, Entities doing business with the Federal Government must use a Unique Entity Identifier (UEI) number assigned in SAM.gov and will no longer use a third-party website to obtain their identifier number. Notice, Credit enhancements to strengthen bank loans and reduce risk, Delegated lending model where lenders manage underwriting, Streamlined procedures and quick response to project loan requests. The U.S. Treasury has awarded $1.181 billion in SSBCI 2.0 funds to California, divided equally between CPCFA and IBank. The Texas Small Business Credit Initiative is expected to be allocated more than $472 million and the State of Texas is focused on staying apprised of the latest program information released by the U.S. Department of the Treasury. Further information on how these allocations were made can be found by accessing in the Capital Program Policy Guidelines on the same page. The maximum amount of the credit guaranty is $200,000. Incentive Programs | Texas Economic Development - Greg Abbott 2.2. Pennsylvania State Small Business Credit Initiative (PA-SSBCI) To access the reporting guidance, scroll down to the Program Rules and Materials section then click on Capital Program Reporting Guidance. Fund Tennesseeis expecting to launch in the first part of 2023. Any questions regarding the SSBCI program should be submitted tossbci_information@treasury.gov. How do you get an application for small business loan? The State Small Business Credit Initiative May 09, 2018 By Michael Eggleston , Lisa J. Locke Abstract The State Small Business Credit Initiative (SSBCI), a component of the Small Business Jobs Act of 2010, allocated nearly $1.5 billion to states to support small-business financing programs. It was funded at $1.5 billion and implemented by Treasury and states and territories from 2011 through 2017. The Maryland Department of Housing and Community Development has been designated as the lead agency to administer Maryland's State Small Business Credit Initiative (SSBCI) funds in partnership with the Maryland Department of Commerce and the Maryland Technology Development Corporation . The State Small Business Credit Initiative (SSBCI) is a $10 billion small business program managed by the U.S. Department of the Treasury (Treasury). The State Small Business Credit Initiative (SSBCI) was originally created through federal legislation - the Small Business Jobs Act of 2010. Any changes to the application deadline will be posted on the website. To create a Treasury Portal user account, please navigate to Portal.Treasury.gov/cares. American Rescue Plan: What Is It? How Will it Affect Your Business? | Gusto 4.7. Financial Institutions are being enrolled in the CPCFA and IBank programs. Seafood Processors Grants | Washington State Department of Agriculture Additional Information Businesses will apply for funding through their local economic development organization. What is the last day I can apply for the Technical Assistance Grant Program? Nevada has become the first state in the U.S. to launch a novel microloan program under the federal State Small Business Credit Initiative (SSBCI). Note that application materials, program requirements, and guidance will be revised for the 2021 round of SSBCI. We and our partners use cookies to Store and/or access information on a device. State Small Business Credit Initiative / Minnesota Department of provided $10 billion to fund the State Small Business Credit Initiative SSBCI. The SSBCI is managed by the U.S. Department of the Treasury, and it will be allocating the funds. The Treasury Portal supports most modern browsers including Microsoft Edge, Google Chrome, and an updated version of Safari. Email instructions and a link were emailed to eligible jurisdiction point(s) of contact the same day each portal was launched. 6.1. Phone: (615) 741-1888 Since 2002, the OCAP has assisted countless small businesses with their working capital and fixed-asset financing needs. State Small Business Credit Initiative - California Contact our office to inquire about becoming a participating lender. What steps do I need to complete in SAM.gov? The first time you click a SIGN or INITIAL field, you are asked to adopt a signature and initials. This means small business owners that otherwise wouldnt get any loans could qualify under SSBCI. 2.9. Localizing the State Small Business Credit Initiative Also please make sure you are using a supported browser. How do I report them? State Small Business Credit Initiative (SSBCI 2.0) - Tennessee State Small Business Credit Initiative (SSBCI) The RFP for the SSBCI Venture Capital Programs has been put on hold temporarily while we review potential changes to the RFP. New York State Small Business Revolving Loan Fund Round 2. After performance targets are . If you are a business or a lending institution that is interested in participating in small business financing programs through the SSBCI, please go to http://treasury.gov/ssbci and click on the List of Proposed Programs and Contacts link to locate the State or Territorial contact in your area. For more information, please see the Capital Program Policy Guidelines and FAQs on the program website at Treasury.gov/SSBCI. SSBCI - FloridaJobs.org SSBCI will allocate at least $14.73 million to Tribal governments. SAM validates information and electronically shares the secure and encrypted data with the federal agencies' Finance Offices to facilitate paperless payments through Electronic Funds Transfer (EFT). Copyright 2003 - 2023, Small Business Trends LLC. Apply now Overview: Under the Consolidated Appropriations Act of 2021, $50 million was provided to the United States Department of Agriculture (USDA), Agriculture Marketing Service (AMS) for the Seafood Processors Pandemic Response and Safety (SPRS) Block Grant Program. Please reference the website at Treasury.gov/SSBCI for more information. State Small Business Credit Initiative (SSBCI) About SSBCI The State Small Business Credit Initiative (SSBCI) was created through the Small Business Jobs Act of 2010 (the "Act"). 3.4. Through SSBCI, Treasury will provide funds to states, the District of Columbia, territories, and . Texas Economic Development P.O. Box 12428 Austin, Texas 78711 (512) 936-0100 Apply for SSBCI through Social Impact Funds Apply for SSBCI through Seed Funds Apply for SSBCI through Venture Funds TEDCO's Venture Capital Limited Partner (VCLP) Program - Interest Form: Emerging fund managers interested in applying to the program, should complete the interest form by 5:00pm ET on Monday, January 9, 2023. The funds will also support recipient jurisdictions in promoting American entrepreneurship and democratizing access to startup capital across the country, including in underserved communities. Around the State: March 2023 - Nevada Business Magazine CPCFA and IBank have signed an updated joint agreement to implement SSBCI 2.0. Ohio Capital Access Program (OCAP) The U.S. Department of the Treasury has launched the 2021 State Small Business Credit Initiative (SSBCI) portal. There does not seem to be a portal for small businesses yet - or . 2021 State Small Business Credit Initiative (SSBCI) Application The $10 billion will be distributed in the following manner: States can then use the following small business financing programs to disperse the SSBCI funds: Also known as SSBCI 2.0, the second iteration of this program maintains the initial goals of the 2010 version. Tennessee's SSBCI 2.0 program, calledFund Tennessee, is comprised of InvestTN, the equity component, LendTN, thedebt program, and AssistTN, the technical assistance components. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. For the TA Grant program, preliminary program allocations for states, territories, and the District of Columbia can be found on the programs website at Treasury.gov/SSBCI by scrolling down to the Program Rules and Materials section then clicking on the Preliminary Technical Assistance Grant Program Allocation Table link. It seems the federal government offers loan guarantees and funds to states, who in turn offer loans processed by banks and credit unions. If the Finish button is not appearing, it is due to one or more incomplete required fields. SSBCI, which is administered by the U.S. Department of Treasury (Treasury), provides funding to be used for credit and investment programs for existing small businesses and start-ups. Colorado State Small Business Credit Initiative (404) 679-4840, Providing resources, tools, and technical assistance to cities, counties, and local authorities to help strengthen communities, Connecting communities to funding sources to help build capacity and encourage economic development while honoring the communitys past through historic preservation, Helping communities meet housing needs and connecting people with housing assistance, 2018 Georgia Department of Community Affairs. 7.1. State Small Business Credit Initiative (SSBCI) 2.0 Administered by the U.S. Department of the Treasury, this initiative is the second installment of the program originally passed under the Small Business Jobs Act of 2010. The initiative features a newly developed refinancing mechanism to strengthen Community Development Financial Institutions lending to small business. Empire State Development's Small Business Division supports the development and expansion of businesses with under 100 employees - directing an array of programs and initiatives supporting small business growth and helping entrepreneurs maximize opportunities for success. ET. For the Capital program, preliminary program allocations for states, territories, and the District of Columbia can be on the programs website at Treasury.gov/SSBCI by scrolling down to the Program Rules and Materials section then clicking on the Allocations for States Territories Washington DC and Tribal Governments link. It is their responsibility to notify financial personnel within their organization on their end of the incoming payment. If you are a Participating Jurisdiction and do not know who your outreach manager is, please contact ssbci_information@treasury.gov. Sign up to receive the latest Pennsylvania news, direct to your inbox. Eligibility and Preliminary Allocations, Budget, Financial Reporting, Planning and Performance, Financial Markets, Financial Institutions, and Fiscal Service, Treasury Coupon-Issue and Corporate Bond Yield Curve, Treasury International Capital (TIC) System, Kline-Miller Multiemployer Pension Reform Act of 2014, Taxpayers Will See Improved Service This Filing Season Thanks to Inflation Reduction Act, Disparities in the Benefits of Tax Expenditures by Race and Ethnicity, Racial Differences in Economic Security: Non-Housing Assets, Treasury Sanctions People Involved in Serious Human Rights Abuse Against Vladimir Kara-Murza, Treasury Announces Approval of Up to $890.7 Million to Support Small Business Success Across Three States, Treasury Sanctions CJNG-Run Timeshare Fraud Network. 2.7. Eligible Entities can either create an account (your identity will need to be verified through ID.me) or log in. This will be evaluated by the state to determine management, lending experience, financial capacity, and ability. The Small Business Jobs Act of 2010 (the "Act") was signed into law on September 27, 2010. The U.S. Department of Treasury is administering a second installment of the State Small Business Credit Initiative (SSBCI) as part of the American Jobs Plan passed in 2021. For further information on the transition to UEI Number, access SAM.gov. All lenders seeking approval as participating lenders in the SSBCI programs must undergo a vetting process whereby the State will evaluate the lender on management and lending experience as well as financial capacity and ability. Remarks by Under Secretary for Domestic Finance Nellie Liang During Workshop on Next Steps to the Future of Money and Payments, Remarks by Secretary of the Treasury Janet L. Yellen at Bilateral Meeting with Prime Minister of Ukraine Denys Shmyhal, RT @TreasuryDepSec: At our roundtable with @BlkEconAlliance today, @SBAIsabel @RepNikema and I heard from business leaders about ways the f, RT @TreasuryDepSec: I'm in Atlanta this week with @SBAIsabel and @DepSecTodman to highlight some of the historic investments @USTreasury @S, Form 941, employer's quarterly federal tax return, State Small Business Credit Initiative (SSBCI), Enrolled Loan and Leverage Ratio Tables User Guide, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. Is there a Webinar or Zoom call that I can attend? SSBCI 2.0 funds were allocated as follows: Could be before or after loan or equity infusion, general assistance; to be allocated as a separate grant, Socially and Economically Disadvantaged Businesses (SEDI), Tennessee does not have any tribal governments. #stimulusnews #stimulusupdate #funding$10 BILLION SSBCI STATE FUNDING FOR SMALL BUSINESS | SHE BOSS TALKOn March 11, 2021, President Biden signed The America. Overview - Indiana The funding will be distributed through various existing business lending programs, including MSBDFA, which received $45 million. 2021 State Small Business Credit Initiative (SSBCI) Application Material Documents and resources for the 2021 SSBCI program. https://home.treasury.gov/policy-issues/small-business-programs/state-smallbusiness-credit-initiative-ssbci. System inputs must be in the proper format. Atlanta, GA 30329 Tribal Governments interested in participating in SSBCI were required to submit a Notice of Intent (NOI) to apply for SSBCI funds by December 11, 2021. Information regarding webinars will be emailed to the points of contact and Authorized Representatives provided in the Notices of Intent. 6.2. ID.mes support website can be found at help.id.me. State Small Business Credit Initiative (SSBCI), Budget, Financial Reporting, Planning and Performance, Financial Markets, Financial Institutions, and Fiscal Service, Treasury Coupon-Issue and Corporate Bond Yield Curve, Treasury International Capital (TIC) System, Kline-Miller Multiemployer Pension Reform Act of 2014, Taxpayers Will See Improved Service This Filing Season Thanks to Inflation Reduction Act, Disparities in the Benefits of Tax Expenditures by Race and Ethnicity, Racial Differences in Economic Security: Non-Housing Assets, Treasury Sanctions People Involved in Serious Human Rights Abuse Against Vladimir Kara-Murza, Treasury Announces Approval of Up to $890.7 Million to Support Small Business Success Across Three States, Treasury Sanctions CJNG-Run Timeshare Fraud Network. How do I apply for funds through the State Small Business Credit Initiative?