The funds will be used to implement the five types of programs allowed under SSBCI 2.0. It was funded at $1.5 billion and implemented by Treasury and states and territories from 2011 through 2017. Diversity, Equity, Inclusion, and Accessibility, Alcohol and Tobacco Tax and Trade Bureau (TTB), Financial Crimes Enforcement Network (FinCEN), Office of the Comptroller of the Currency (OCC), Treasury Inspector General for Tax Administration (TIGTA), Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Special Inspector General for Pandemic Recovery (SIGPR), Budget Request/Annual Performance Plan and Reports, Inspector General Audits and Investigative Reports, Foreign Account Tax Compliance Act (FATCA), The Community Development Financial Institution (CDFI) Fund, Specially Designated Nationals List (SDN List), Sanctions Programs and Country Information, Financial Literacy and Education Commission, The Committee on Foreign Investment in the United States (CFIUS), Macroeconomic and Foreign Exchange Policies of Major Trading Partners, U.S.-China Comprehensive Strategic Economic Dialogue (CED), Small and Disadvantaged Business Utilization, Daily Treasury Par Real Yield Curve Rates, Debt Management Overview and Quarterly Refunding Process, U.S International Portfolio Investment Statistics, Report Fraud Related to Government Contracts, Cashing Savings Bonds in Disaster-Declared Areas, Community Development Financial Institution (CDFI) Fund, Electronic Federal BenefitPayments - GoDirect, General Property, Vehicles, Vessels & Aircraft. Documents and resources from the 2010 SSBCI Allocation which operated from 2011-2017 can be found at2010-2017 Archive. 3.10. Please reference the website at Treasury.gov/SSBCI for more information. Minnesota has been approved by the U. S. Department of the Treasury for up to $97 million for small business financing support. The Act created the State Small Business Credit Initiative, funded with $1.5 billion to strengthen state lending programs that support small businesses and manufacturers. "Small Business Trends" is a registered trademark. 2021 State Small Business Credit Initiative (SSBCI) Application Material Documents and resources for the 2021 SSBCI program. / What is the status of my application? What is the last day I can apply for the Technical Assistance Grant Program? 60 Executive Park South, NE This document also contains the preliminary allocation methodology summary for Tribal governments. 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. Initial payments will occur sometime after the application is fully reviewed and approved and an allocation agreement is signed. 1. The initial SSBCI program (SSBCI 1.0) was funded with $1.5 billion to strengthen state programs that support financing of small businesses. When approved a business can generally use the funds for: This can vary by state, so make sure to check. Diversity, Equity, Inclusion, and Accessibility, Alcohol and Tobacco Tax and Trade Bureau (TTB), Financial Crimes Enforcement Network (FinCEN), Office of the Comptroller of the Currency (OCC), Treasury Inspector General for Tax Administration (TIGTA), Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Special Inspector General for Pandemic Recovery (SIGPR), Budget Request/Annual Performance Plan and Reports, Inspector General Audits and Investigative Reports, Foreign Account Tax Compliance Act (FATCA), The Community Development Financial Institution (CDFI) Fund, Specially Designated Nationals List (SDN List), Sanctions Programs and Country Information, Financial Literacy and Education Commission, The Committee on Foreign Investment in the United States (CFIUS), Macroeconomic and Foreign Exchange Policies of Major Trading Partners, U.S.-China Comprehensive Strategic Economic Dialogue (CED), Small and Disadvantaged Business Utilization, Daily Treasury Par Real Yield Curve Rates, Debt Management Overview and Quarterly Refunding Process, U.S International Portfolio Investment Statistics, Report Fraud Related to Government Contracts, Cashing Savings Bonds in Disaster-Declared Areas, Community Development Financial Institution (CDFI) Fund, Electronic Federal BenefitPayments - GoDirect, General Property, Vehicles, Vessels & Aircraft. 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 How long will it take me to register with ID.me? What do I do? 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. Addresses inequitable capital access by bridging the financing gaps facing new companies, under-banked communities and small businesses. 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. *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. What Entities are eligible for the Technical Assistance Grant Program? How do I edit my individual account information? To create a Treasury Portal user account, please navigate to Portal.Treasury.gov/cares. State Small Business Credit Initiative (SSBCI) Application | U.S. Department of the Treasury Home State Small Business Credit Initiative (SSBCI) Application Documents and resources from the 2010 SSBCI which operated from 2011-2017 will be revised for the 2021 round of SSBCI. 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). 3.3. 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 I am trying to fill out the application. For the lenders there is a lower risk of loss, thus allowing them to approve loans they would ordinarily decline. Please verify that you are supplying the information in the correct format. Information regarding webinars will be emailed to the points of contact and Authorized Representatives provided in the Notices of Intent. Documents, timelines, and other resources related to the 2021 allocation of the SSBCI program can be accessed here2021 Archive. Indicate if you want to select a preformatted signature style or if you will draw your signature. All rights reserved. The SSBCI Program is now a state-administered revolving loan program. 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. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. 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. With SSBCI 2.0, the program will have $10 billion available for creating specialized small business access to capital programs. Businesses will apply for funding through their local economic development organization. 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. For more information, please visit the U.S. Department of the Treasury's website. Additionally, businesses in low- and moderate-income communities were also beneficiaries of the program. Ohio initially will receive $52.4 million to support socially and economically disadvantaged individuals and very small businesses. provided $10 billion to fund the State Small Business Credit Initiative SSBCI. If you did not receive the email, it could be because it was blocked by your Email Server, Firewall, Email Provider or Email Client. Diversity, Equity, Inclusion, and Accessibility, Alcohol and Tobacco Tax and Trade Bureau (TTB), Financial Crimes Enforcement Network (FinCEN), Office of the Comptroller of the Currency (OCC), Treasury Inspector General for Tax Administration (TIGTA), Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Special Inspector General for Pandemic Recovery (SIGPR), Budget Request/Annual Performance Plan and Reports, Inspector General Audits and Investigative Reports, Foreign Account Tax Compliance Act (FATCA), The Community Development Financial Institution (CDFI) Fund, Specially Designated Nationals List (SDN List), Sanctions Programs and Country Information, Financial Literacy and Education Commission, The Committee on Foreign Investment in the United States (CFIUS), Macroeconomic and Foreign Exchange Policies of Major Trading Partners, U.S.-China Comprehensive Strategic Economic Dialogue (CED), Small and Disadvantaged Business Utilization, Daily Treasury Par Real Yield Curve Rates, Debt Management Overview and Quarterly Refunding Process, U.S International Portfolio Investment Statistics, Report Fraud Related to Government Contracts, Cashing Savings Bonds in Disaster-Declared Areas, Community Development Financial Institution (CDFI) Fund, Electronic Federal BenefitPayments - GoDirect, General Property, Vehicles, Vessels & Aircraft. New York State Small Business Revolving Loan Fund Round 2. 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"). Im trying to do something in the Treasury Portal and its not working. 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 5.1. Per the agreement, the oversight with the U.S. Treasury expired on March 31, 2017. The consent submitted will only be used for data processing originating from this website. This is a considerable increase from the first SSBCI and the $1.4 billion it offered in 2010. SSBCI will allocate at least $14.73 million to Tribal governments. 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). 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 . The U.S. Treasury has awarded $1.181 billion in SSBCI 2.0 funds to California, divided equally between CPCFA and IBank. If you are having difficulty registering on SAM.gov, please refer to the Federal Service Desk for assistance with your SAM.gov account. States, the District of Columbia, and Territories must submit their completed SSBCI Technical Assistance (TA) Grant Program application by October 14, 2022 at 11:59 pm ET (Eastern Time). Why do I need to use ID.me? The SSBCI program allocates nearly $10 billion to states, the District of Columbia, territories, and Tribal governments to increase access to capital and . Economic development organizations must submit the online Electronic Single Application (ESA) for assistance. 2.5. 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. 4.8. For more information on allocations and allocation methodology, please visit the State Small Business Credit Initiative website at Treasury.gov/SSBCI. As part of the American Rescue Plan Act of 2021, the Oklahoma Center for the Advancement of Science and Technology (OCAST) will receive up to $81.6 million in State Small Business Credit Initiative (SSBCI) funding to provide more access to capital for startups and small businesses in Oklahoma. The best browsers to use are Microsoft Edge, Google Chrome or an updated version of Safari. What does the Change to UEI Number mean for Recipients? Any changes to the application deadline will be posted on the website. Texas Small Business Credit Initiative The objective of the Texas Small Business Credit Initiative (TSBCI) is to support state programs that provide resources to assist small business growth and create new jobs through increased access to small business funding. 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. The Treasury Portal supports most modern browsers including Microsoft Edge, Google Chrome, and an updated version of Safari. These participating lendersundergo a vetting process whereby the State will evaluate the lender on management and lending experience as well as financial capacity and ability. Email: [email protected], Go to Economic & Community Development (ECD), is administering a second installment of the. 4.7. Diversity, Equity, Inclusion, and Accessibility, Alcohol and Tobacco Tax and Trade Bureau (TTB), Financial Crimes Enforcement Network (FinCEN), Office of the Comptroller of the Currency (OCC), Treasury Inspector General for Tax Administration (TIGTA), Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Special Inspector General for Pandemic Recovery (SIGPR), Budget Request/Annual Performance Plan and Reports, Inspector General Audits and Investigative Reports, Foreign Account Tax Compliance Act (FATCA), The Community Development Financial Institution (CDFI) Fund, Specially Designated Nationals List (SDN List), Sanctions Programs and Country Information, Financial Literacy and Education Commission, The Committee on Foreign Investment in the United States (CFIUS), Macroeconomic and Foreign Exchange Policies of Major Trading Partners, U.S.-China Comprehensive Strategic Economic Dialogue (CED), Small and Disadvantaged Business Utilization, Daily Treasury Par Real Yield Curve Rates, Debt Management Overview and Quarterly Refunding Process, U.S International Portfolio Investment Statistics, Report Fraud Related to Government Contracts, Cashing Savings Bonds in Disaster-Declared Areas, Community Development Financial Institution (CDFI) Fund, Electronic Federal BenefitPayments - GoDirect, General Property, Vehicles, Vessels & Aircraft. This means small business owners that otherwise wouldnt get any loans could qualify under SSBCI. March 31, 2023- Applications for SSBCI technical assistance funding from Tribal governments are due (application materials). View complete set of self-service resources. CDFA's SSBCI Resource Center is the central source for announcements, events, and information related to the SSBCI program. How much money have I been preliminarily allocated to receive? The funds will be sent to California over a period of eight years, in three separate installments (tranches). 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. 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. This field is for validation purposes and should be left unchanged. 2.2. The first step to becoming an approved lender is to complete a lender application package and submit it to DCA for review.
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