$55.5 million in SSBCI funding to provide shorter-term microloans and loans typically under $250,000. These participating lendersundergo a vetting process whereby the State will evaluate the lender on management and lending experience as well as financial capacity and ability. Community Development Financial Institutions engaged in small business lending in Georgia. PA State Small Business Credit Initiative (PA-SSBCI) Program Guidelines - PA Department of Community & Economic Development Pennsylvania Department of Community and Economic Development MENU DCED Library PA State Small Business Credit Initiative (PA-SSBCI) Program Guidelines PA State Small Business Credit Initiative (PA-SSBCI) Program Guidelines Our mission is to improve the quality of life for Pennsylvania citizens while assuring transparency and accountability in the expenditure of public funds. For more information, please visit theU.S. Department of the Treasuryswebsite. STEM-based companies can receive up to $100,000 for eligible expenses, and other businesses can get up to $50,000. Small business financing programs, which includes Capital Access programs, Loan Participations, Loan Guarantees, Collateral Support, and Venture Equity programs. Please check your browser. If you're a business owner with employees in California, you most likely need to offer your employees paid sick leave.That's because there's the Healthy Workplaces, Healthy Families Act of 2014. The portal will provide access to $10 billion, which is made possible by the American Rescue Plan Act of 2021. Questions added 9/16/22: 1.1, 2.1-2.11, 3.1-3.11, 4.1-4.9, 5.1-5.2, 6.1-6.6, 7.1-7.2, 8.1-8.3. The initial SSBCI program (SSBCI 1.0) was funded with $1.5 billion to strengthen state programs that support financing of small businesses. 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. 5.1. For the Capital Program, Quarterly and Annual Reporting will be required for Recipients of SSBCI funding. / Am I required to report? Eligible Entities include States, the District of Columbia, Territories, and Tribal Governments. What is the last day I can apply for the Capital Program? SSBCI will allocate at least $500 million to Tribal governments. / What is the status of my application? GHFA EDFI/Georgia Department of Community Affairs (DCA) is the administrator of the program. Box 12428 Austin, Texas 78711 (512) 936-0100 The Ohio Capital Access Program (OCAP) is a loan portfolio insurance program, similar to a loan guarantee, that enables small businesses to obtain credit to help them grow and expand their businesses. So whether you're looking for financing, technical assistance or just a single point of contact to help you navigate the breadth of . ID.me is asking for my personal information, but Im trying to apply on behalf of my entity. The SSBCI Program is now a state-administered revolving loan program. Email: ecd.SSBCI2.0@tn.gov, Go to Economic & Community Development (ECD), is administering a second installment of the. https://home.treasury.gov/policy-issues/small-business-programs/state-smallbusiness-credit-initiative-ssbci. You can check the status of your application at any time by logging into the Treasury Portal at Portal.Treasury.gov/cares. 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. Note:These funds are not available in Tennessee, yet. Small Business Owners Struggling with Inflation, How to Support Small Business on Small Business Saturday, 10 New Years Resolutions to Consider for Your Small Business in 2021, Which Small Businesses Will Thrive in 2021, $6.5 billion for State allocation $6 billion based on unemployment and half a billion dollars based on percentage of companies with less than ten employees, $1.5 billion for businesses owned and controlled by socially and economically disadvantaged individuals, $1 billion for incentives to States/Tribal governments that demonstrate robust support for businesses owned and controlled by socially and economically disadvantaged individuals, Half a billion dollars for technical assistance programs, Half a billion dollars for Tribal governments, Purchase or construction renovations of non-passive real estate. The funds will be sent to California over a period of eight years, in three separate installments (tranches). For more information on submitting reports for the Capital Program, please access the program website at Treasury.gov/SSBCI, scroll down to the Program Rules and Materials section then click on Capital Program Reporting Guidance. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. Please verify that you are supplying the information in the correct format. The Act created the State Small Business Credit Initiative, funded with $1.5 billion to strengthen state lending programs that support small businesses and manufacturers. In fact, we've established a special Office of Small Business Affairs to connect business owners with resources that can help spark growth or ease relocation. Directory of State of Nevada Employees and Elected Officials with phone numbers, emails and general information. Financial Institutions are being enrolled in the CPCFA and IBank programs. If you are having difficulty registering on SAM.gov, please refer to the Federal Service Desk for assistance with your SAM.gov account. 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. That will bring up the Account Update screen. The American Rescue Plan Act (ARPA) provided Treasury with $500 million to deploy technical assistance (TA) for underserved entrepreneurs to access $10 billion in State Small Business Credit Initiative (SSBCI) funding. We believe that access to loan capital is a fundamental component of an equitable, vibrant, and growing economy. The Treasury Portal supports most modern browsers including Microsoft Edge, Google Chrome, and an updated version of Safari. The funds will be used to implement the five types of programs allowed under SSBCI 2.0. If you did not receive the email, it could be because it was blocked by your Email Server, Firewall, Email Provider or Email Client. Contact Information The Act created the State Small Business Credit Initiative (SSBCI) to provide direct support to states for use in programs designed to increase access to credit for small businesses. 2.5. Small Business Loan Program. 6.1. The State Small Business Credit Initiative (SSBCI) was originally created through federal legislation - the Small Business Jobs Act of 2010. This document contains answers to frequently asked questions regarding the Department of Treasury State Small Business Credit Initiative (SSBCI). 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. State Small Business Credit Initiative | Committee on Jobs, Economic Development, and the Economy Skip to main content Skip to: Content| Footer| Accessibility| Translate this website on Google Translate Search Input California State AssemblyCommittee on Jobs, Economic Development, and the Economy Committee Home JEDE Rules and Jurisdiction More importantly, 80% of the loans and investments of the first SSBCI went to small businesses with 10 or fewer employees. On March 11, 2021, President Biden signed The American Rescue Plan Act, which reauthorized and funded the State Small Business Credit Initiative (SSBCI). This document also contains the preliminary allocation methodology summary for Tribal governments. 60 Executive Park South, NE LOUISIANA VETERANS FIRST BUSINESS INITIATIVE. 8.1. It is their responsibility to notify financial personnel within their organization on their end of the incoming payment. 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, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. 2.2. You will need to verify your identity with ID.me. 4.9. All said the SSBCI was responsible for helping more than 16,900 small businesses. If you are having difficulty registering on ID.me, please refer to ID.me Contact Support for assistance. Trafficking Does anyone understand where we're at with this program or have any other insights? As a part of the federal American Rescue Plan Act (ARPA), the federal government passed the State Small Business Credit Initiative (SSBCI) bill to fund small business credit support and investment programs. To access the reporting guidance, scroll down to the Program Rules and Materials section then click on Capital Program Reporting Guidance. 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. This will be evaluated by the state to determine management, lending experience, financial capacity, and ability. What is ID.me? Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. Documents, timelines, and other resources related to the 2021 allocation of the SSBCI program can be accessed here2021 Archive. First, verify that your name and initials are correct. With SSBCI 2.0, the program will have $10 billion available for creating specialized small business access to capital programs. The Treasury Portal supports most modern browsers including Microsoft Edge, Google Chrome, and an updated version of Safari. / How do I reset my password? Im trying to do something in the Treasury Portal and its not working. This document also contains the preliminary allocation methodology summary for Tribal governments. Indicate if you want to select a preformatted signature style or if you will draw your signature. 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. The new version of the SSBCI program provides a combined $10 billion to states, the District of Columbia, territories, and Tribal governments to empower small businesses to access capital needed to invest in job-creating opportunities as the country emerges from the pandemic. SSBCI will allocate at least $14.73 million to Tribal governments. The capital program application portal was launched on 11/22/2021 and the technical assistance grant program application portal was launched on 8/1/2022. Please refer to help.id.me for more details on that process. The initiative features a newly developed refinancing mechanism to strengthen Community Development Financial Institutions lending to small business. New SAM.gov registrants will be assigned a UEI number as part of their SAM registration. What was the allocation methodology for SSBCI? We and our partners use cookies to Store and/or access information on a device. 4.8. Treasury Launches the 2021 State Small Business Credit Initiative (SSBCI) Technical Assistance Grant Application Portal on 8/1/2022 Treasury Announces North Carolina Approved to Receive Up to $201.9 Million to Promote Small Business Growth and Entrepreneurship through the American Rescue Plan (7/29/2022) For more information, visit the program website at Treasury.gov/SSBCI. This is primarily due to the hands-off approach of the program by allowing states the flexibility to design their own small business support programs. The $1.4 billion of the first SSBCI was able to leverage more than $8 billion in private small business loans and investments. For more information, visit the program website at Treasury.gov/SSBCI. State Small Business Credit Initiative (SSBCI 2.0), Application submitted Februarury 11, 2022, awating final approval. State Small Business Credit Initiative (SSBCI) Application | U.S. Department of the Treasury Home State Small Business Credit Initiative (SSBCI) Application Documents and resources from the 2010 SSBCI which operated from 2011-2017 will be revised for the 2021 round of SSBCI. Pennsylvania Department of Community and Economic Development, https://dced.pa.gov/wp-content/themes/business2015/images/logo-l.png, Pennsylvania State Small Business Credit Initiative (PA-SSBCI). State Small Business Credit Initiative (SSBCI) was originally created in the Small Business Jobs Act of 2010 to increase availability of credit for small businesses. This is to deliver capital to small businesses that urgently need it in the U.S. SSBCI was funded with $1.5 billion to strengthen state programs that support financing of small businesses. How much money have I been preliminarily allocated to receive? to get your personalized list of resources, build your own business model canvas, or locate resources near you. SSBCI provides Eligible Jurisdictions funding for: For more information, visit the program website at Treasury.gov/SSBCI. All Recipients and Subrecipients can obtain a Unique Entity Identifier (UEI) number on the Sam.gov website and register for an account if needed: For more information, please access the SAM.gov website. As part of the American Rescue Plan Act of 2021, the Oklahoma Center for the Advancement of Science and Technology (OCAST) will receive up to $81.6 million in State Small Business Credit Initiative (SSBCI) funding to provide more access to capital for startups and small businesses in Oklahoma. Maryland has been approved by the U.S. Treasury to administer up to $198 million in federal assistance, including subsequent performance-based funds, through the State Small Business Credit Initiative (SSBCI). No action is required if you have an existing and active registration in SAM.gov. Copyright 2003 - 2023, Small Business Trends LLC. As a reminder, you must log in using the single sign on that you created using ID.me. Territories | U.S. Department of the Treasury (2/23/2023), Treasury Department Announces Puerto Rico to Receive up to $109 Million to Promote Small Business Growth and Entrepreneurship through President Bidens American Rescue (2/9/2023), TA Grant Program Application Deadline Extended for Tribal Governments (12/6/2022), Treasury Announces Seven Additional States to Receive up to $1.5 Billion from U.S. Treasury Department to Promote Small Business Growth and Entrepreneurship through the American Rescue Plan (12/6/2022), Tribal Government Capital Program Application Submissions (11/29/2022). When approved a business can generally use the funds for: This can vary by state, so make sure to check. From there, click the Start an Application button located on the top, right-hand corner of the page and follow the instructions. The large increase to $10 billion is due to the success of the program, which is considered one of the more successful mechanisms for delivering capital from a federal source. It was funded at $1.5 billion and implemented by Treasury and states and territories from 2011 through 2017. What do I do? How do I report them? Tribal Governments must initiate and submit their completed SSBCI capital program application by October 31, 2022, at 11:59 p.m. 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 . Maine's Path to Recovery The $4.5 billion investment in Maine from the American Rescue Plan (ARP) is an unprecedented opportunity to support recovery from the COVID-19 pandemic, to improve the lives and livelihoods of Maine people, to make investments in solving Maine's long-term challenges, to develop strategies for new opportunities, and to strengthen our state for years to come. If not, you can change them as needed. Preliminary allocations were determined in advance by Treasury. Manage Settings The consent submitted will only be used for data processing originating from this website. Select the Settings link. Financial support for small business across states. Please ensure your legacy DUNS number is accessible for historical reference where needed, as the DUNS number will no longer be visible to Users in SAM.gov after April 4, 2022. The first step to becoming an approved lender is to complete a lender application package and submit it to DCA for review. Their website is fsd.gov and you can also call them at 866-606-8220 from 8am - 8pm EST. 3.10. What Entities are eligible for the Capital Program? 2.4. 7.2. Lenders looking to participate in the SSBCI program will undergo a vetting process. Technical Assistance for small businesses will be implemented by technical service providers after U.S. Treasury completes the application and award process. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. 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). ID.mes support website can be found at help.id.me. Also please make sure you are using a supported browser. 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), Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. Entities are able to manage organizational information, such as legal business name and physical address associated with a UEI number, directly from SAM.gov. Please scroll down to the Program Rules and Materials section to access these documents. SSBCI 1.0was passed in 2010 and ran from 2011 to 2017. An example of data being processed may be a unique identifier stored in a cookie. SSBCI will allocate at least $500 million to Tribal governments. For overall information about the program, including information on requesting funding, please see, For general questions about SSBCI, please email. The objective of SSBCI is to support state programs that provide resources to assist small business growth and create new jobs through increased access to small business funding. The U.S. Department of the Treasury has launched the 2021 State Small Business Credit Initiative (SSBCI) portal. (note that the comment deadline has been extended). The Small Business Jobs Act of 2020, signed into law on September 27, 2010, was created to help small businesses create jobs to drive the economic recovery. 3.4. Fund Tennesseeis expecting to launch in the first part of 2023. Florida received a total SSBCI allocation of $97,662,349. The Act created the State Small Business Credit Initiative, funded with $1.5 billion to strengthen state lending programs that support small businesses and manufacturers. Please reference the website at Treasury.gov/SSBCI for more information. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. It seems the federal government offers loan guarantees and funds to states, who in turn offer loans processed by banks and credit unions. Delaware Capital Access Program and State Small Business Credit Initiative Participation Loan help lenders to provide financing to businesses deemed too risky for the traditional banking model due to minor collateral or credit issues. 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. 2011 State Small Business Credit Initiative Application, State Small Business Credit Initiative (SSBCI) Application, 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. Following approval, program documentation, including submission guidelines, will be made available via the TSBCI web portal, which will also be open to accept applications from financial institutions interested in participating in the program. What reporting is required? SmallBizLoansProgSummary102517.pdf. An online application portal is forthcoming. Note that application materials, program requirements, and guidance will be revised for the 2021 round of SSBCI. The new funding will be used to launch an updated version of the state's highly successful Small Business Credit Initiative (SSBCI) program . The Act created the Small Business Lending Fund (SBLF) program administered by the Department of the Treasury (Treasury) to make capital investments in eligible institutions to increase the availability of credit for small businesses. New York State Small Business Revolving Loan Fund Round 2. Minnesota will receive funds in three disbursements over several years. By clicking the continue button or continuing to use our website, you are consenting to our, Certified Economic Development Organizations, Educational Improvement Tax Credit Program (EITC), Opportunity Scholarship Tax Credit Program (OSTC), Neighborhood Assistance Program, Enterprise Zone Tax Credit (NAP/EZP), Entertainment Economic Enhancement Program (EEEP), Pennsylvania Capital Access Program (PennCAP), HOME Investment Partnership Program (HOME), H2O PA - Water Supply, Sanitary Sewer and Storm Water Projects, Shapiro Administration Awards New Funding to Increase In-Demand Electrical Worker Apprentices in Pennsylvania, Shapiro Administration Announces Nearly $2 Million in New PIDA Loans to Spur Business Growth, Job Creation in Two Counties, DCED Legislative Budget Presentation FY 2022-23, Certified Economic Development Organizations (CEDOs), Community Development Financing Institutions (CDFIs). 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"). The increased access to capital stems from the state's successful application for $15,487,998 in federal funds from the U.S. Department of Treasury through the State Small Business Credit Initiative (SSBCI). Information regarding webinars will be emailed to the points of contact and Authorized Representatives provided in the Notices of Intent. My entity does not have a UEI number. Note: The State of Texas is currently awaiting SSBCI application approval from the U.S. Department of the Treasury. While on the DocuSign page and once all required fields have been completed, the Finish button will appear. Any changes to the application deadline will be posted on the website. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. Applications will be accepted between July 18, 2022 through August 19, 2022. If you would like to change your name or initials, type the changes in the Full Name and Initials fields. Currently, Georgias SSBCI offers two programs. You will need to provide all of the information listed in the Treasury Portal at Portal.Treasury.gov/cares. Can you send me the form to fill out? All rights reserved. The State Small Business Credit Initiative (SSBCI) provides funds to States, Territories, and Tribal governments to enable these jurisdictions to support programs for small businesses. To find the self-service options, please go to ID.me, select My Account, select Sign In then select the Forgot password link and follow the instructions. Continue with Recommended Cookies. The Act created the State Small Business Credit Initiative (SSBCI) to provide direct support to states for use in programs designed to increase access to credit for small businesses. IBank is the lead applicant and they have signed an allocation agreement with U.S. Treasury. Fund Tennesseeis expecting to launch in the first part of 2023. for the newsletter for upcoming announcements. *Please note that the PDF version of the Application Instructions below is not the application and should not be filled out or sent to Treasury. SSBCI, small business credit, direct venture investment, revolving loan, PA-SSBCI, small business loan, PA Department of Community and Economic Development. Get more information at the U.S. Department of the Treasury State Small Business Credit Initiative Capital Program Policy Guidelines SSBCI program guidelines.

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