Addresses inequitable capital access by bridging the financing gaps facing new companies, under-banked communities and small businesses. It also provides technical assistance to small businesses applying for SSBCI funding. Contact Information (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. Continue with Recommended Cookies. 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. Where can I get more information on the Transition to UEI Number? If not, you can change them as needed. If you are a Participating Jurisdiction and do not know who your outreach manager is, please contact ssbci_information@treasury.gov. Required supplemental information outlined in Appendix I of the program guidelines must be attached electronically to the application as directed on the Addenda tab. / How do I reset my password? 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. Businesses will apply for funding through their local economic development organization. For small businesses, it offers attractive terms for loans, flexible resources for funding with little red tape, fast access to funds, and a quick answer to a loan request. SSBCI will allocate at least $500 million to Tribal governments. The U.S. Department of the Treasury has launched the 2021 State Small Business Credit Initiative (SSBCI) portal. 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). 2011 State Small Business Credit Initiative Application 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. Before the end of the year, MBDA plans to . Specifically, beginning in FY 2021, the Department of the Treasury (Treasury) is authorized to provide up to $10 billion in support for small business capital . CDFA - SSBCI Resource Center For more information, please visit the U.S. Department of the Treasury's website. To create a Treasury Portal user account, please navigate to Portal.Treasury.gov/cares. 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. The maximum amount of the credit guaranty is $200,000. 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. The Pennsylvania State Small Business Credit Initiative (PA-SSBCI) provides funding to economic development partners for the implementation and administration of capital programs to support small businesses through loans and equity investments: The following economic development organizations are eligible to apply for the Revolving Loan Fund component: The following economic development organizations are eligible to apply for the Direct Venture Investment component: Pennsylvania has allocated $125,838,132 of funding to the Revolving Loan Fund component and $125,000,000 of funding to the Direct Venture Investment component. 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. Why do I need to use ID.me? Annual Reports Starting in 2023, each participating jurisdiction must submit to Treasury an annual report for each calendar year by March 31 of the following year. The new funding will be used to launch an updated version of the state's highly successful Small Business Credit Initiative (SSBCI) program . Incentive Programs | Texas Economic Development - Greg Abbott Further information on how these allocations were made can be found by accessing in the Technical Assistance Grant Program Guidelines on the same page. 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. 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). Please verify that you are supplying the information in the correct format. For the Capital Program, Quarterly and Annual Reporting will be required for Recipients of SSBCI funding. Documents, timelines, and other resources related to the 2021 allocation of the SSBCI program can be accessed here2021 Archive. 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. Please refer to help.id.me for more details on that process. The U.S. Department of the Treasury has launched the 2021 State Small Business Credit Initiative (SSBCI) portal. With SSBCI 2.0, the program will have $10 billion available for creating specialized small business access to capital programs. Registration with SAM.gov is required for any Entity that wants to do business with the federal government. Additional Information Businesses will apply for funding through their local economic development organization. LOUISIANA VETERANS FIRST BUSINESS INITIATIVE. 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 . Texas Small Business Credit Initiative - Greg Abbott Weencourage those interested in Tennessee's SSBCI program to check backperiodically and/orsign-upfor the newsletter for upcoming announcements. All rights reserved. 2021 State Small Business Credit Initiative (SSBCI) Application Material Documents and resources for the 2021 SSBCI program. STEM-based companies can receive up to $100,000 for eligible expenses, and other businesses can get up to $50,000. View complete set of self-service resources. Technical Assistance Grant Program Preliminary Allocations to Tribal Governments - Methodology Summary, Technical Assistance Grant Program Tribal Consult Summary, Capital Program Policy Guidelines (Updated 12/15/2022), Frequently Asked Questions SSBCI Capital and TA Grant Programs (Updated 12/8/2022), Capital Program National Compliance Standards (11/17/2022), Capital Program Reporting Guidance (Updated 9/30/2022), Technical Assistance Program Application Template, Sample Technical Assistance Notice of Award, Capital Program Sample Certifications (Updated 7/28/2022), Preliminary Technical Assistance Grant Program Allocation Table (4/28/2022), Technical Assistance Grant Program Guidelines (4/28/2022), Allocations for States Territories Washington DC and Tribal Governments, Preliminary Allocation to Tribal Governments Methodology Summary (Updated 11/10/2021). Quarterly reports must be submitted within 30 days after the end of each quarterly reporting period (excluding the quarterly reporting period ending on the expiration date of the Allocation Agreement). Your UEI number is located below the DUNS number on your Entity Registration Record. There does not seem to be a portal for small businesses yet - or . Email: ecd.SSBCI2.0@tn.gov, Go to Economic & Community Development (ECD), is administering a second installment of the. While national mediaoutlets have noted that the US Dept. How do I receive payment (Wire, ACH)? You will need to verify your identity with ID.me. Note that application materials, program requirements, and guidance will be revised for the 2021 round of SSBCI. The State of Georgia application to the U.S. Treasury was approved and the allocation agreement executed in December 2011. List of SSBCI Capital Programs and Contacts. 2.8. The mission of the Department of Community and Economic Development (DCED) is to foster opportunities for businesses to grow and for communities to succeed and thrive in a global economy. PDF VSBFA SSBCI 2 - Virginia 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. 60 Executive Park South, NE All Entities can obtain a Unique Entity Identifier (UEI) number on the Sam.gov website and register for an account if needed: 4.4. Why do I need to sign up at SAM.gov? What steps do I need to complete in ID.me? 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. Kentucky Small Business Credit Initiative - Kentucky SBDC All other inquiries should be directed to the Public Affairs Office of the Treasury and any press inquiries should be directed to Press@Treasury.gov. System inputs must be in the proper format. This document contains answers to frequently asked questions regarding the Department of Treasury State Small Business Credit Initiative (SSBCI). State Small Business Credit Initiative | NC Rural Center These organizations provideloans and business development resources to helpborrowers create and grow sustainable businesses and generate jobs for Georgians. The best browsers to use are Microsoft Edge, Google Chrome or an updated version of Safari. 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. Small Business Initiatives - Enterprise Florida 1. 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, Assistance for State, Local, and Tribal Governments, Assistance for American Families and Workers, Local Assistance and Tribal Consistency Fund. State Small Business Credit Initiative (SSBCI) | TEDCO 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. 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. PDF State Small Business Credit Initiative: Implementation and Funding Issues 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. 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. ET. Helping to build strong, vibrant communities. Pennsylvania State Small Business Credit Initiative (PA-SSBCI) If the Finish button is not appearing, it is due to one or more incomplete required fields. The funds will be sent to California over a period of eight years, in three separate installments (tranches). Financial support for small business across states. For further information on the transition to UEI Number, access SAM.gov. 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.
