2.8. How do I apply for funds through the State Small Business Credit Initiative? SSBCI was funded with $1.5 billion to strengthen state programs that support financing of small businesses. American Rescue Plan: What Is It? How Will it Affect Your Business? | Gusto The consent submitted will only be used for data processing originating from this website. Washington state receives $163.4 million to fund innovative small Currently, non-Tribal applications must have been initiated by December 11, 2021 and completed by February 11, 2022 at 11:59pm ET (Eastern Time). There does not seem to be a portal for small businesses yet - or . Business Pandemic Recovery Initiative | Empire State Development 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. State Small Business Credit Initiative SSBCI Self-Service Resources SSBCI Self-Service Resources View complete set of self-service resources. Why do I need to use ID.me? 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) An overview of the results ishere. 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. To create a Treasury Portal user account, please navigate to Portal.Treasury.gov/cares. What steps do I need to complete in ID.me? All applications and required supplemental information must be electronically submitted by close of business on August 19, 2022. Topics, More State Small Business Credit Initiative: Implementation and Funding Issues Congressional Research Service 2 costs).6 As of December 31, 2016, all 57 participants had received their first tranche, 56 had received their second tranche, and 53 had received their third tranche.7 States were expected to leverage their SSBCI funds to generate new small business lending that is Small Business Credit Initiative Frequently Asked Questions, https://home.treasury.gov/policy-issues/small-businessprograms/state-small-business-credit-initiative-ssbci/2021-ssbci/program-materials/application-materials, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service, This document contains answers to frequently asked questions regarding the Department of Treasury State Small Business Credit Initiative (SSBCI). (updated. What do I do? Find out more about our Business Pandemic Recovery Initiative programs, including tax credits and grant funding, below. Please refer to SAM.gov for further information. Applications to become a subrecipient will be accepted until January 14 . 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. State Small Business Credit Initiative (SSBCI) | TEDCO Phone: (615) 741-1888 The program will allow for a veteran, active or reserve military, or Gold Star spouse who have a fifty-one percent ownership in a business to apply for and gain certification to recognize and promote their businesses. Officials, Human 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). The State Small Business Credit Initiative - Federal Reserve Bank of St What do I do? State Small Business Credit Initiative | NC Rural Center 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) $100 million of that amount has been transferred to MBDA to assist with this effort. Get more information at the U.S. Department of the Treasury State Small Business Credit Initiative Capital Program Policy Guidelines SSBCI program guidelines. The maximum amount of the credit guaranty is $200,000. Maryland Business Funding | Small Business | Maryland Department of For the Capital Program, Quarterly and Annual Reporting will be required for Recipients of SSBCI funding. While on the DocuSign page and once all required fields have been completed, the Finish button will appear. Pennsylvania State Small Business Credit Initiative (PA-SSBCI) 4.7. Technical Assistance to very small businesses and businesses owned and controlled by Socially and Economically Disadvantaged Individuals (SEDI) owned businesses applying for SSBCI and other government programs. Your UEI number is located below the DUNS number on your Entity Registration Record. Governor Ivey Announces Innovate Alabama's Launch of Small Business Through SSBCI 2.0, Treasury will provide funds to states, the District of Columbia, territories, and Tribal governments . Please note that SAM registration can take up to three weeks; delay in registering in SAM.gov could impact timely payment of funds. The Small Business Jobs Act of 2010 (the "Act") was signed into law on September 27, 2010. Through SSBCI, Treasury will provide funds to states, the District of Columbia, territories, and . A payment confirmation will be sent to the contact person and Authorized Representative, communicating the scheduled date of payment. 2.9. 5.1. SSBCI 1.0 was passed in 2010 and ran from 2011 to 2017. Division of Small Business - Empire State Development Corporation SSBCI, small business credit, direct venture investment, revolving loan, PA-SSBCI, small business loan, PA Department of Community and Economic Development. This will be evaluated by the state to determine management, lending experience, financial capacity, and ability. Please reference the website at Treasury.gov/SSBCI for more information. Eligible Entities can either create an account (your identity will need to be verified through ID.me) or log in. The Georgia Small Business Credit Guaranty (SBCG) Program provides a 50% credit guaranty to the lender on loans up to $400,000. Housing Choice Voucher Program (formerly known as Section 8), Georgia Balance of State Continuum of Care (BoS CoC), GHFA Permanent Supporting Housing (formerly known as Shelter Plus Care) (PSH), Homeless Management Information System (HMIS), Housing Opportunities for Persons with AIDS (HOPWA), HUD 811 Project Rental Assistance Program (HUD 811), Reentry Partnership Housing Program (RPH), State Housing Trust Fund for the Homeless (HTF), Community Development Block Grant Disaster Recovery Program (CDBG-DR), Community Development Block Grant Coronavirus (CDBG-CV), Community Development Block Grants (CDBG), Downtown Development Revolving Loan Fund (DDRLF), Regional Economic Business Assistance (REBA), State Small Business Credit Initiative (SSBCI), Regional Economic Assistance Program (REAP), Construction Codes and Housing Development, Georgia Initiative for Community Housing (GICH), HOME Investment Partnership Program (HOME), Governing Statutes, Regulations, and Guidance, Government Management Indicators (GOMI) Survey, Report of Local Government Finance (RLGF), Georgia Commission for Service and Volunteerism, Georgia SBCG (Small Business Credit Guaranty), History - State Small Business Credit Initiative, Georgia Department of Economic Development, University of Georgia Small Business Development Center, CDFIs Engaged in Small Business Lending in Georgia, How do I make a GORA "open records" request, Popular Overview - Indiana (VSBFA) is the eligible entity that will apply for SSBCI 2.0 funds. State Small Business Credit Initiative | ACA - Angel Capital Association Localizing the State Small Business Credit Initiative The Treasury Portal supports most modern browsers including Microsoft Edge, Google Chrome, and an updated version of Safari. Delaware will receive Treasury funding to provide small business financing and technical assistance to help small and diverse businesses become capital ready. Sign up to receive the latest Pennsylvania news, direct to your inbox. Ohio Capital Access Program (OCAP) Additional Information Businesses will apply for funding through their local economic development organization. The PA Department of Community & Economic Development (DCED) oversees the State Small Business Credit Initiative (SSBCI) in Pennsylvania. Currently, Georgias SSBCI offers two programs. On April 4, 2022, the Federal Government transitioned from the DUNS number issued by Dun and Bradstreet to the Unique Entity Identifier (UEI). Small Business Credit Initiative Launches in Nevada. December 6, 2021 Delaney SextonContributing Editor Main Street Monday - State Small Business Credit Initiative's 2021 Application Portal is Launched The U.S. Department of Treasury opened the SSBCI portal that is going to provide $10 billion to create specialized small business programs and increase access to capital. If the email is still not found, Users can trigger the email to be resent from within the Treasury Portal. Main Street Monday - State Small Business Credit Initiative's 2021 On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021, which provided $10 billion to fund the State Small Business Credit Initiative SSBCI. 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. What is the last day I can apply for the Technical Assistance Grant Program? Treasury will review complete applications as quickly as possible, in the order in which they are received. 3.3. /. The funds will also support recipient jurisdictions in promoting American entrepreneurship and democratizing access to startup capital across the country, including in underserved communities. $10 BILLION SSBCI STATE FUNDING FOR SMALL BUSINESS - YouTube It was funded at $1.5 billion and implemented by Treasury and states and territories from 2011 through 2017. When additional information becomes available, it will be posted on the program website at Treasury.gov/SSBCI. 6.2. This document also contains the preliminary allocation methodology summary for Tribal governments. /. The Treasury Portal does not work well on Internet Explorer. When the Finish button becomes active, you can complete the signing. For more information, visit the program website at Treasury.gov/SSBCI. Overview. 2021 State Small Business Credit Initiative Application Updated (5/24/2022), 2021 State Small Business Credit Initiative Application User Guide (5/24/2022), Compliance and Oversight Narrative Template, Assurances of Compliance with Civil Rights Requirement Template, Technical Assistance Program Application Template, Technical Assistance Templates and Certifications, Sample Technical Assistance Notice of Award, 2021 State Small Business Credit Initiative (SSBCI) Application Material, 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. The result was 190,000 jobs that were created or retained because of the support. How do I report them? 2023, State of Texas, Office of the Governor, Texas Economic Development, Governor's University Research Initiative (GURI), Product Development and Small Business Incubator Fund, Economic Development & Diversification In-State Tuition for Employees, Governors Small Business Resource Portal, Veteran, Minority & Women Owned Business Resources. The Treasury Portal supports most modern browsers including Microsoft Edge, Google Chrome, and an updated version of Safari. 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. Continue with Recommended Cookies. Documents and resources for the 2021 SSBCI program. 7.2. CDFA's SSBCI Resource Center is the central source for announcements, events, and information related to the SSBCI program. Initial payments will occur sometime after the application is fully reviewed and approved and an allocation agreement is signed. State Small Business Credit Initiative - California State Treasurer Preliminary allocations were determined in advance by Treasury. What was the allocation methodology for SSBCI? This document contains answers to frequently asked questions regarding the Department of Treasury State Small Business Credit Initiative (SSBCI). 3.8. The Small Business Jobs Act of 2010 (the "Act") was signed into law on September 27, 2010. Additional guidance, forms, and other resources with information about the SSBCI program will be posted as details are available. If you are having difficulty registering on ID.me, please refer to ID.me Contact Support for assistance. 3.10. No action is required if you have an existing and active registration in SAM.gov. 4.5. The initial SSBCI program (SSBCI 1.0) was funded with $1.5 billion to strengthen state programs that support financing of small businesses. First, verify that your name and initials are correct. For more information, please visit the U.S. Department of the Treasury's website. Information regarding webinars will be emailed to the points of contact and Authorized Representatives provided in the Notices of Intent. SSBCI is expected to create billions of dollars in lending and investments to small businesses that are not getting the support they need to expand and create jobs. For the Capital Program, Quarterly and Annual Reporting will be required for Recipients of SSBCI funding: For more information on reporting, please refer to the Capital Program Reporting Guidance available on the program website at Treasury.gov/SSBCI. Note: The State of Texas is currently awaiting SSBCI application approval from the U.S. Department of the Treasury. 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). SmallBizLoansProgSummary102517.pdf. 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).