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) Incentive Programs | Texas Economic Development - Greg Abbott Continue with Recommended Cookies. Email: ecd.SSBCI2.0@tn.gov, Go to Economic & Community Development (ECD), is administering a second installment of the. What Entities are eligible for the Capital Program? Washington state receives $163.4 million to fund innovative small SSBCI will allocate at least $14.73 million to Tribal governments. This field is for validation purposes and should be left unchanged. What is the Unique Entity Identifier (UEI) number? Businesses will apply for funding through their local economic development organization. This is to deliver capital to small businesses that urgently need it in the U.S. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. 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. State Small Business Credit Initiative (SSBCI) Application Why do I need to sign up at SAM.gov? 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. Additional Information Businesses will apply for funding through their local economic development organization. How much money have I been preliminarily allocated to receive? SSBCI - oklahoma.gov 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. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. GHFA EDFI/Georgia Department of Community Affairs (DCA) is the administrator of the program. Main Street Monday - State Small Business Credit Initiative's 2021 Lenders looking to participate in the SSBCI program will undergo a vetting process. The Treasury Portal does not work well on Internet Explorer. Why do I need to use ID.me? 2021 State Small Business Credit Initiative (SSBCI) Application Material Documents and resources for the 2021 SSBCI program. The funds SSBCI makes available benefit both small businesses and lenders because of the federal involvement. Trafficking You can find information on those programs on the Treasury.gov website at http://treasury.gov/Recovery. Texas Small Business Credit Initiative - Greg Abbott I have Subrecipients to report that have a DUNS, but no UEI. The Georgia Small Business Credit Guaranty (SBCG) Program provides a 50% credit guaranty to the lender on loans up to $400,000. Whitmer Announces Michigan Awarded Millions to Support Small - SOM 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. If you would like to change your name or initials, type the changes in the Full Name and Initials fields. Any changes to the application deadline will be posted on the website. SSBCI 1.0was passed in 2010 and ran from 2011 to 2017. 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. PDF VSBFA SSBCI 2 - Virginia The second-round application period for this grant is open until May 25. The One-Stop Business Portal is also in development, which will provide small businesses with one resource for starting and running . To ensure equitable access across the state, DCED has contracted with economic development partners at the regional and local levels to administer loan and equity programs. 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. This document contains answers to frequently asked questions regarding the Department of Treasury State Small Business Credit Initiative (SSBCI). Congress appropriated $1.5 billion to the Initiative. Nevada - Employee Directory 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. After reviewing the RFI, commenters can post their comments on Regulations.gov. Atlanta, GA 30329 60 Executive Park South, NE For more information, please visit theU.S. Department of the Treasuryswebsite. The State of Georgia application to the U.S. Treasury was approved and the allocation agreement executed in December 2011. IBank is the lead applicant and they have signed an allocation agreement with U.S. Treasury. Manage Settings For more information, please see the Capital Program Policy Guidelines and FAQs on the program website at Treasury.gov/SSBCI. It can be used for planning purposes. 3.8. Eligible Entities can either create an account (your identity will need to be verified through ID.me) or log in. 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). The first step to becoming an approved lender is to complete a lender application package and submit it to DCA for review. 2.3. 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. 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. This will be evaluated by the state to determine management, lending experience, financial capacity, and ability. All applications must be submitted electronically through the Treasury Portal at Portal.Treasury.gov/cares. Business Incentives | Louisiana Economic Development SSBCI funds will be used to create two new programs . In January, the Michigan Strategic Fund board approved the State Small Business Credit Initiative (SSBCI 2.0) Michigan Business Growth Fund 2.0 programs and guidelines to access a minimum of $215.7 million in federal funding allocated to Michigan in 2021 through an American Recovery Plan allocation. What reporting is required? 3.10. State Small Business Credit Initiative (SSBCI) Please reference the website at Treasury.gov/SSBCI for more information. 2.8. The initiative features a newly developed refinancing mechanism to strengthen Community Development Financial Institutions lending to small business. 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. Minnesota will receive funds in three disbursements over several years. 4.2. While national mediaoutlets have noted that the US Dept. 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).
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