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 SSBCI program allocates nearly $10 billion to states, the District of Columbia, territories, and Tribal governments to increase access to capital and . 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). 2.3. Weencourage those interested in Tennessee's SSBCI program to check backperiodically and/orsign-upfor the newsletter for upcoming announcements. State Small Business Credit Initiative: Big Help for Small Business 3.10. *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. This document contains answers to frequently asked questions regarding the Department of Treasury State Small Business Credit Initiative (SSBCI). Financial support for small business across states. The SSBCI is managed by the U.S. Department of the Treasury, and it will be allocating the funds. 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. Any changes to the application deadline will be posted on the website. 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. All applications must be submitted electronically through the Treasury Portal at Portal.Treasury.gov/cares. State Small Business Credit Initiative (SSBCI 2.0) Current Status The U.S. Treasury has awarded $1.181 billion in SSBCI 2.0 funds to California, divided equally between CPCFA and IBank. 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. List of SSBCI Capital Programs and Contacts. Further information on how these allocations were made can be found by accessing in the Technical Assistance Grant Program Guidelines on the same page. If the Finish button is not appearing, it is due to one or more incomplete required fields. For more information, please visit the U.S. Department of the Treasury's website. 3.9. 3.2. This field is for validation purposes and should be left unchanged. What do I do? 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. Now open! Indiana was approved to receive up to $99 million in federal funding through the State Small Business Credit Initiative (SSBCI) to expand access to and increase working capital for Hoosier entrepreneurs, startups and small business owners. 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. Financial Institutions are being enrolled in the CPCFA and IBank programs. All existing Entities with an existing and active registration with SAM.gov will be assigned a UEI number that can be used for reporting activities. For further information on the transition to UEI Number, access SAM.gov. 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. 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What are the eligible uses for these funds? You can check the status of your application at any time by logging into the Treasury Portal at Portal.Treasury.gov/cares. *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. 8.3. US Treasury approves up to $112.9 million for Nevada SSBCI Small Business Initiatives - Enterprise Florida The SSBCI Program is now a state-administered revolving loan program. Once there, you can click on Create an ID.me account and follow the instructions. Ohio Capital Access Program (OCAP) Incentives & Credits - Division of Small Business - State of Delaware 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. What reporting is required? 2.5. For overall information about the program, including information on requesting funding, please see, For general questions about SSBCI, please email. 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. 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. With small businesses continuing to face challenges brought on by the pandemic, the U.S. Department of Treasury has expanded the State Small Business Credit Initiative (SSBCI) Program as a part of The American Rescue Plan Act of 2021. Small business financing programs, which includes Capital Access programs, Loan Participations, Loan Guarantees, Collateral Support, and Venture Equity programs. No action is required if you have an existing and active registration in SAM.gov. What Is the California Paid Sick Leave Law? | Gusto 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) Email: ecd.SSBCI2.0@tn.gov, Go to Economic & Community Development (ECD), is administering a second installment of the. 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. 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). It will fund state, territory, and Tribal government small business credit support and investment programs. Note: The State of Texas is currently awaiting SSBCI application approval from the U.S. Department of the Treasury. Minnesota has been approved by the U. S. Department of the Treasury for up to $97 million for small business financing support. Can you send me the form to fill out? Information about the UEI transition can be found by accessing GSA.gov and searching on Unique Entity Identifier Update. Atlanta, GA 30329 On March 11, 2021, President Biden signed The American Rescue Plan Act, which reauthorized and funded the State Small Business Credit Initiative (SSBCI). Delaware will receive Treasury funding to provide small business financing and technical assistance to help small and diverse businesses become capital ready. Please refer to help.id.me for more details on that process. 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. Overview - Indiana 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. Addresses inequitable capital access by bridging the financing gaps facing new companies, under-banked communities and small businesses. Get more information at the U.S. Department of the Treasury State Small Business Credit Initiative Capital Program Policy Guidelines SSBCI program guidelines. We and our partners use cookies to Store and/or access information on a device. These State Small Business Credit Initiative funds are awarded to Delaware, Kentucky, Tennessee, and Wyoming to support local small business financing and investment programs WASHINGTON Today, the U.S. Department of the Treasury announced the approval of four additional state plans for up to $353.4 million in funding under the State Small Business Credit Initiative (SSBCI) in President . IBank is the lead applicant and they have signed an allocation agreement with U.S. Treasury. This is a considerable increase from the first SSBCI and the $1.4 billion it offered in 2010. Similarly, Treasury will automatically populate your existing account records with the GSA-issued UEI number in the Treasury.gov Application and Compliance portal, as applicable. In turn, states were able to adapt to existing economic conditions in their region and disperse the funds accordingly. CDFA - SSBCI Resource Center Of the total amount funded, Georgia was allocated $48,024,748. In September 2022, DEO announced the approval of the state SSBCI application by the United States Department of the Treasury (U.S. Treasury) for $488 million in funding. What information do I need to provide in order to receive the funding? Our mission is to improve the quality of life for Pennsylvania citizens while assuring transparency and accountability in the expenditure of public funds. 2021 State Small Business Credit Initiative (SSBCI) Application Nevada Employee Directory (NED). Continue with Recommended Cookies. Eligible Entities include States, the District of Columbia, Territories, and Tribal Governments. The best browsers to use are Microsoft Edge, Google Chrome or an updated version of Safari. As a reminder, you must log in using the single sign on that you created using ID.me. This initiative was originally created in 2009 under the Obama Administration. 6.3. Please refer to the Federal Service Desk for assistance with your SAM.gov account. MBDA's Program: Small Business Credit Initiative Main Street Monday - State Small Business Credit Initiative's 2021 We're here to help New York State's small businesses reimagine, rebuild and renew. 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. Contact our office to inquire about becoming a participating lender. What Entities are eligible for the Capital Program? We believe that access to loan capital is a fundamental component of an equitable, vibrant, and growing economy. The One-Stop Business Portal is also in development, which will provide small businesses with one resource for starting and running . Around the State: March 2023 - Nevada Business Magazine $55.5 million in SSBCI funding to provide shorter-term microloans and loans typically under $250,000. 2.4. 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. These organizations provideloans and business development resources to helpborrowers create and grow sustainable businesses and generate jobs for Georgians. State Small Business Credit Initiative | ACA - Angel Capital Association State Small Business Credit Initiative (SSBCI) It also provides technical assistance to small businesses applying for SSBCI funding. 3.8. Please verify that you are supplying the information in the correct format. The deadline for proposals will also be revised. New SAM.gov registrants will be assigned a UEI number as part of their SAM registration. Pennsylvania State Small Business Credit Initiative (PA-SSBCI) 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. 2.7. For more information, please visit theU.S. Department of the Treasuryswebsite. If you would like to change your name or initials, type the changes in the Full Name and Initials fields. The Treasury Portal does not work well on Internet Explorer. This is to deliver capital to small businesses that urgently need it in the U.S. Ohio was approved by the U.S. Department of Treasury to receive funding through the federal State Small Business Credit Initiative (SSBCI) to support small businesses across the state. SSBCI is a federal program administered by the Department of the Treasury that was created to strengthen state programs that support private financing to 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. Five new programs to be offered through the State Small Business Credit Initiative (SSBCI) OLYMPIA, WA - Washington state has been awarded $163.4 million from the U.S. Treasury Department to operate five capital access programs for small businesses. 4.3. SSBCI will allocate at least $14.73 million to Tribal governments. What do I do? Texas Small Business Credit Initiative - Greg Abbott Once the modifications are completed, we will post the revised RFP to this site. The result was 190,000 jobs that were created or retained because of the support. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. 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. 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. View complete set of self-service resources. For the latest, follow us on Google News. Businesses will apply for funding through their local economic development organization. This will be evaluated by the state to determine management, lending experience, financial capacity, and ability. / How do I reset my password? Eligible Recipients under the Technical Assistance (TA) Grant Program are States, the District of Columbia and Territories that submitted a complete SSBCI Capital Program application by February 11, 2022; and Tribal Governments that submit a complete SSBCI Capital Program application by October 31, 2022. Please refer to SAM.gov for further information. For more information, please visit Treasury.gov/SSBCI. The funds will be used to implement the five types of programs allowed under SSBCI 2.0. Additional Information Businesses will apply for funding through their local economic development organization. Initial payments will occur sometime after the application is fully reviewed and approved and an allocation agreement is signed. Division of Small Business - Empire State Development Corporation The expectation is that this funding will generate the minimum bang for the buck of $10 in private investment for every $1 in federal funding . Business Incentives | Louisiana Economic Development If you did not receive the email, it could be because it was blocked by your Email Server, Firewall, Email Provider or Email Client. Required supplemental information outlined in Appendix I of the program guidelines must be attached electronically to the application as directed on the Addenda tab. Through SSBCI, Treasury will provide funds to states, the District of Columbia, territories, and . If you are registered in SAM.gov, your UEI number has already been assigned and is viewable in your SAM.gov account. The SSBCI program works withapproved lenders to provide financial support to small businesses. The State Small Business Credit Initiative (SSBCI) is a $10 billion small business program managed by the U.S. Department of the Treasury (Treasury). Currently, non-Tribal applications must have been initiated by December 11, 2021 and completed by February 11, 2022 at 11:59pm ET (Eastern Time). 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 All rights reserved. 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. Governor Ivey Announces Innovate Alabama's Launch of Small Business The Georgia Small Business Credit Guaranty (SBCG) Program provides a 50% credit guaranty to the lender on loans up to $400,000. /. 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. Trafficking 4.6. What is the last day I can apply for the Capital Program? 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.