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Use the Auto Navigation feature (yellow tab) to help you navigate. We believe that access to loan capital is a fundamental component of an equitable, vibrant, and growing economy. "Small Business Trends" is a registered trademark. CDFA - SSBCI Resource Center 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. The initiative is a partnership between the federal government and individual states and provides funding to state programs that offer financing and technical assistance to small businesses. Of the total amount funded, Georgia was allocated $48,024,748. The U.S. Department of Treasury (Treasury) is administering a second installment of the State Small Business Credit Initiative (SSBCI 2.0) as part of the American Jobs Plan. 7.1. /. For more information on allocations and allocation methodology, please visit the State Small Business Credit Initiative website at Treasury.gov/SSBCI. Please refer to SAM.gov for further information. How do I know if a specific use is eligible? The SSBCI program works withapproved lenders to provide financial support to small businesses. Preliminary allocations were determined in advance by Treasury. Once the modifications are completed, we will post the revised RFP to this site. 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). 2023. The Treasury Portal supports most modern browsers including Microsoft Edge, Google Chrome, and an updated version of Safari. Atlanta, GA 30329 The Georgia Loan Participation Program (GA LPP) will enable lenders to provide more loans to businesses since the lender is able to diversity its risk by sharing exposure with the State. What is the last day I can apply for the Technical Assistance Grant Program? 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. SSBCI will allocate at least $500 million to Tribal governments. of Treasury has released funds to somestates/territories, it is a rolling process. It can be used for planning purposes. Please check your browser. Weencourage those interested in Tennessee's SSBCI program to check backperiodically and/orsign-upfor the newsletter for upcoming announcements. This document contains answers to frequently asked questions regarding the Department of Treasury State Small Business Credit Initiative (SSBCI). An online application portal is forthcoming. Virginia Small Business Financing Authority For more information, visit the program website at Treasury.gov/SSBCI. CPCFA and IBank have signed an updated joint agreement to implement SSBCI 2.0. PDF State Small Business Credit Initiative: Implementation and Funding Issues Directory of State of Nevada Employees and Elected Officials with phone numbers, emails and general information. This document also contains the preliminary allocation methodology summary for Tribal governments. Additionally, businesses in low- and moderate-income communities were also beneficiaries of the program. Treasury Announces Eleven Additional States to Receive up to $1 Billion from U.S. Treasury Department to Promote Small Business Growth and Entrepreneurship through the American Rescue Plan (10/11/2022), California to Receive up to $1.1 Billion from U.S. Treasury Department to Promote Small Business Growth and Entrepreneurship through the American Rescue Plan (9/21/2022), Capital Program Application Deadline Extended for Tribal Governments (Updated 8/26/2022), Treasury Approves Four Additional State Plans to Support Underserved Entrepreneurs and Small Business Growth Through the State Small Business Credit Initiative (8/19/2022), 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), Treasury Approves Nine Additional State Plans to Support Underserved Entrepreneurs and Small Business Growth Through the State Small Business Credit Initiative (7/18/2022), Treasury Announces First State Small Business Credit Initiative Awards to Support Underserved Entrepreneurs and Small Business Growth in Key Industries (5/19/2022), Treasury Announces Plans to Deploy $300 Million in Technical Assistance to Underserved Entrepreneurs and Very Small Businesses through the State Small Business Credit Initiative (4/28/2022), Treasury Launches Historic Equity Measurements for American Rescue Plan Small Business Investments Program - Press Release 3/3/2022, Demographics-Related Reporting Requirements: Interim Final Rule (IFR), Tribal government Notice of Intent (NOI) Submissions(Updated 1/31/2022). Small businesses can begin by using technical support to learn about financing options and how to prepare to apply for capital, CalOSBA can refer you to small business technical, Small businesses can also access technical support from, When ready to apply for capital, small businesses can apply to participating financial institutions for, After applying, the participating financial institutions underwriting process will determine if the proposed loan should be enrolled in the CalCAP for Small Business or CalCAP Collateral Support program, and may also approve a proposed loan without enrolling the loan in CalCAP, Small businesses can also choose to apply for, There is no charge to enroll and all fees are paid on a per-loan basis, Financial institutions begin enrollment with this, Financial institutions can also choose to. The Small Business Jobs Act of 2010 (the "Act") was signed into law on September 27, 2010. The State Small Business Credit Initiative (SSBCI) Any changes to the application deadline will be posted on the website. STEM-based companies can receive up to $100,000 for eligible expenses, and other businesses can get up to $50,000. This is a considerable increase from the first SSBCI and the $1.4 billion it offered in 2010. All applications and required supplemental information must be electronically submitted by close of business on August 19, 2022. Texas Small Business Credit Initiative - Greg Abbott provided $10 billion to fund the State Small Business Credit Initiative SSBCI. MBDA's Program: Small Business Credit Initiative Required supplemental information outlined in Appendix I of the program guidelines must be attached electronically to the application as directed on the Addenda tab. The $1.4 billion of the first SSBCI was able to leverage more than $8 billion in private small business loans and investments. Governor's Small Business Resource Portal - Greg Abbott Also please verify that you are using a supported browser. Manage Settings CDFA's SSBCI Resource Center is the central source for announcements, events, and information related to the SSBCI program. Kentucky Small Business Credit Initiative - Kentucky SBDC 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. 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. The primary objective of the SSBCI is to enhance new or existing state programs that provide access to capital for small businesses and manufacturers. Phone: (615) 741-1888 The program was established in 2010 by the Small Business Jobs Act of 2010 to help states address the difficulties that private businesses faced while securing financing during the nation's economic recovery. Where can I get more information on the Transition to UEI Number? 8.3. Business Pandemic Recovery Initiative | Empire State Development All applications must be submitted electronically through the Treasury Portal at Portal.Treasury.gov/cares. Please reference the website at Treasury.gov/SSBCI for more information. The first step to becoming an approved lender is to complete a lender application package and submit it to DCA for review. debt program, and AssistTN, the technical assistance components. When the Finish button becomes active, you can complete the signing. Select the Settings link. Sign up to receive the latest Pennsylvania news, direct to your inbox. How long will it take me to register with ID.me? Per the agreement, the oversight with the U.S. Treasury expired on March 31, 2017. Treasury Announces Approval of Up to $353.4 Million to Support Small This is a considerable increase from the first SSBCI and the $1.4 billion it offered in 2010. 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. SSBCI 1.0 was passed in 2010 and ran from 2011 to 2017. 3.10. 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. If the email is still not found, Users can trigger the email to be resent from within the Treasury Portal. SSBCI provides Eligible Jurisdictions funding for: For more information, visit the program website at Treasury.gov/SSBCI.