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. 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. Also please make sure you are using a supported browser. Initial payments will occur sometime after the application is fully reviewed and approved and an allocation agreement is signed. Topics, More 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. It was funded at $1.5 billion and implemented by Treasury and states and territories from 2011 through 2017. 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 . If the Finish button is not appearing, it is due to one or more incomplete required fields. The U.S. Department of Treasury is administering a second installment of the State Small Business Credit Initiative (SSBCI) as part of the American Jobs Plan passed in 2021. In addition, the program will assist small businesses that are traditionally marginalized and those that have been impacted by the COVID-19 pandemic. We recommend you review their webpage for full instructions. The Treasury Portal supports most modern browsers including Microsoft Edge, Google Chrome, and an updated version of Safari. 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 . For more information on allocations and allocation methodology, please visit the State Small Business Credit Initiative website at Treasury.gov/SSBCI. - The United States Treasury today announced it has approved up to $112.9 million for Nevada's State Small Business Credit Initiative (SSBCI). For the latest, follow us on Google News. (note that the comment deadline has been extended). 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 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. *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. 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). State Small Business Credit Initiative SSBCI Self-Service Resources SSBCI Self-Service Resources View complete set of self-service resources. When logged into the Treasury Portal, click on the Avatar in the top right-hand corner of the screen. Their website is fsd.gov and you can also call them at 866-606-8220 from 8am - 8pm EST. Also please verify that you are using a supported browser. Helping to build strong, vibrant communities. From there, click the Start an Application button located on the top, right-hand corner of the page and follow the instructions. A payment confirmation will be sent to the contact person and Authorized Representative, communicating the scheduled date of payment. State Small Business Credit Initiative | Committee on Jobs, Economic Development, and the Economy Skip to main content Skip to: Content| Footer| Accessibility| Translate this website on Google Translate Search Input California State AssemblyCommittee on Jobs, Economic Development, and the Economy Committee Home JEDE Rules and Jurisdiction 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. Lending is provided by participating lenders. 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. 2.8. SSBCI, which is administered by the U.S. Department of Treasury (Treasury), provides funding to be used for credit and investment programs for existing small businesses and start-ups. *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 allotment of State Small Business Credit Initiative (SSBCI) funding will continue to help small businesses through three programs: Loan Participation Program (LPP), Capital Access Program (CAP), and the NC Venture Capital Program. 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 portal will provide access to $10 billion, which is made possible by the American Rescue Plan Act of 2021. of Treasury has released funds to somestates/territories, it is a rolling process. Phone: (615) 741-1888 Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. The SSBCI program works withapproved lenders to provide financial support to small businesses. ID.mes support website can be found at help.id.me. What steps do I need to complete in ID.me? The new version of the SSBCI program provides a combined $10 billion to states, the District of Columbia, territories, and Tribal governments to empower small businesses to access capital needed to invest in job-creating opportunities as the country emerges from the pandemic. 2.2. Please verify that you are supplying the information in the correct format. Find out more about our Business Pandemic Recovery Initiative programs, including tax credits and grant funding, below. 2.9. 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. 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. This is to deliver capital to small businesses that urgently need it in the U.S. 3.3. The Small Business Jobs Act of 2020, signed into law on September 27, 2010, was created to help small businesses create jobs to drive the economic recovery. Contact our office to inquire about becoming a participating lender. Texas Economic Development P.O. It will fund state, territory, and Tribal government small business credit support and investment programs. 3.9. 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. Manage Settings The State of Georgia application to the U.S. Treasury was approved and the allocation agreement executed in December 2011. After performance targets are . The funding will be distributed through various existing business lending programs, including MSBDFA, which received $45 million. 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. We believe that access to loan capital is a fundamental component of an equitable, vibrant, and growing economy. State Small Business Credit Initiative (SSBCI) About SSBCI The State Small Business Credit Initiative (SSBCI) was created through the Small Business Jobs Act of 2010 (the "Act"). The Treasury Portal does not work well on Internet Explorer. (VSBFA) is the eligible entity that will apply for SSBCI 2.0 funds. The maximum amount of the credit guaranty is $200,000. If the email is still not found, Users can trigger the email to be resent from within the Treasury Portal. Tribal governments may request allocation information by emailing ssbci_information@treasury.gov or by accessing the application portal. If not, you can change them as needed. /. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. How do I receive payment (Wire, ACH)? System inputs must be in the proper format. Eligible Entities include States, the District of Columbia, Territories, and Tribal Governments. 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. Through SSBCI 2.0, Treasury will provide funds to states, the District of Columbia, territories, and Tribal governments . This document also contains the preliminary allocation methodology summary for Tribal governments. What reporting is required? 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. The primary objective of the SSBCI is to enhance new or existing state programs that provide access to capital for small businesses and manufacturers. 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), Enrolled Loan and Leverage Ratio Tables User Guide, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. Documents, timelines, and other resources related to the 2021 allocation of the SSBCI program can be accessed here2021 Archive. 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. It provides secure digital identity verification to those Government Agencies and Healthcare Providers to make sure that you are you and not someone pretending to be you when you request access to online services. Use the Auto Navigation feature (yellow tab) to help you navigate. Of the total amount funded, Georgia was allocated $48,024,748. For more information, please visit theU.S. Department of the Treasuryswebsite. 4.1. https://home.treasury.gov/policy-issues/small-business-programs/state-smallbusiness-credit-initiative-ssbci. 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. If you're a business owner with employees in California, you most likely need to offer your employees paid sick leave.That's because there's the Healthy Workplaces, Healthy Families Act of 2014. 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. Preliminary allocations were determined in advance by Treasury. (updated. If you did not receive the email, it could be because it was blocked by your Email Server, Firewall, Email Provider or Email Client. 60 Executive Park South, NE Addresses inequitable capital access by bridging the financing gaps facing new companies, under-banked communities and small businesses. 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. PROGRAM OVERVIEW INTRO PAGE 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). 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. Connecticut extends a big welcome to small businesses across a wide array of sectors. 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). After reviewing the RFI, commenters can post their comments on Regulations.gov. Directory of State of Nevada Employees and Elected Officials with phone numbers, emails and general information. Please check your browser. 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. This program will provide a combined $10 billion for small business credit support and investment programs to: Community Development Financial Institutions engaged in small business lending in Georgia. Atlanta, GA 30329 Detailed questions about the conversion from DUNS number to UEI number should be directed to GSA by creating an incident ticket with the Federal Service Desk online at fsd.gov or by calling (866) 606-8220. If you are a future, new, or existing DBE, small business owner, or entrepreneur looking for more resources now, visit the BERO website and/or TNSmartStart.com to get your personalized list of resources, build your own business model canvas, or locate resources near you. 2011 State Small Business Credit Initiative Application, State Small Business Credit Initiative (SSBCI) Application, 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. Required supplemental information outlined in Appendix I of the program guidelines must be attached electronically to the application as directed on the Addenda tab. 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, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. Im trying to do something in the Treasury Portal and its not working. SSBCI 1.0 was passed in 2010 and ran from 2011 to 2017. 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. We're here to help New York State's small businesses reimagine, rebuild and renew. 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. 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. Any questions regarding the SSBCI program should be submitted tossbci_information@treasury.gov. 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. Fund Tennesseeis expecting to launch in the first part of 2023. debt program, and AssistTN, the technical assistance components. 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. 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. 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. Economic development organizations must submit the online Electronic Single Application (ESA) for assistance. Registration with SAM.gov is required for any Entity that wants to do business with the federal government. Once there, you can click on Create an ID.me account and follow the instructions. Our mission is to improve the quality of life for Pennsylvania citizens while assuring transparency and accountability in the expenditure of public funds. Information about the UEI transition can be found by accessing GSA.gov and searching on Unique Entity Identifier Update. 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. Small business financing programs, which includes Capital Access programs, Loan Participations, Loan Guarantees, Collateral Support, and Venture Equity programs. 3.10. 1. Florida received a total SSBCI allocation of $97,662,349. 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. For more information, please visit Treasury.gov/SSBCI. Email instructions and a link were emailed to eligible jurisdiction point(s) of contact the same day each portal was launched. If you are an eligible jurisdiction and did not receive an email, please contact Treasury at: ssbci_information@treasury.gov. What is the turnaround time for reviewing an application? This is primarily due to the hands-off approach of the program by allowing states the flexibility to design their own small business support programs. 4.3. Through SSBCI, Treasury will provide funds to states, the District of Columbia, territories, and . Minnesota has been approved by the U. S. Department of the Treasury for up to $97 million for small business financing support. 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. More importantly, 80% of the loans and investments of the first SSBCI went to small businesses with 10 or fewer employees. 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. Look for the Register Your Entity or Get a Unique Entity ID section on the page then click Learn Mo. The funds will be used to implement the five types of programs allowed under SSBCI 2.0. Further information on how these allocations were made can be found by accessing in the Technical Assistance Grant Program Guidelines on the same page. Nevada Employee Directory (NED). In Step 1, as part of the Discover Phase, small and diverse business, ESOs (entrepreneur support organizations), lenders/funders to small and diverse businesses and stakeholders completed a public survey.