Tribal governments may request allocation information by emailing ssbci_information@treasury.gov or by accessing the application portal. Their website is fsd.gov and you can also call them at 866-606-8220 from 8am - 8pm EST. 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. to get your personalized list of resources, build your own business model canvas, or locate resources near you. Lenders looking to participate in the SSBCI program will undergo a vetting process. Further information on how these allocations were made can be found by accessing in the Technical Assistance Grant Program Guidelines on the same page. U.S. Treasury is in the process of accepting applications for SSBCI 2.0 Technical Assistance. CDFA's SSBCI Resource Center is the central source for announcements, events, and information related to the SSBCI program. It also provides technical assistance to small businesses applying for SSBCI funding. The result was 190,000 jobs that were created or retained because of the support. Any changes to the application deadline will be posted on the website. Further information on how these allocations were made can be found by accessing in the Capital Program Policy Guidelines on the same page. Minnesota has been approved by the U. S. Department of the Treasury for up to $97 million for small business financing support. The U.S. Department of the Treasury has launched the 2021 State Small Business Credit Initiative (SSBCI) portal. Texas Economic Development P.O. For overall information about the program, including information on requesting funding, please see, For general questions about SSBCI, please email. The State Small Business Credit Initiative May 09, 2018 By Michael Eggleston , Lisa J. Locke Abstract The State Small Business Credit Initiative (SSBCI), a component of the Small Business Jobs Act of 2010, allocated nearly $1.5 billion to states to support small-business financing programs. 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. 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. No action is required if you have an existing and active registration in SAM.gov. 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. The State Small Business Credit Initiative (SSBCI) is a $10 billion small business program managed by the U.S. Department of the Treasury (Treasury). SmallBizLoansProgSummary102517.pdf. 4.8. 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. After reviewing the RFI, commenters can post their comments on Regulations.gov. Maryland has been approved by the U.S. Treasury to administer up to $198 million in federal assistance, including subsequent performance-based funds, through the State Small Business Credit Initiative (SSBCI). We recommend you review their webpage for full instructions. 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. Central Office Please verify that you are supplying the information in the correct format. Their website is fsd.gov and you can also call them at 866-606-8220 from 8am - 8pm EST. On March 11, 2021, President Biden signed The American Rescue Plan Act, which reauthorized and funded the State Small Business Credit Initiative (SSBCI). An ACH routing number is required. Please reference the website at Treasury.gov/SSBCI for more information. The initiative features a newly developed refinancing mechanism to strengthen Community Development Financial Institutions lending to small business. How long will it take me to register with ID.me? 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). For more information, please visit theU.S. Department of the Treasuryswebsite. With SSBCI 2.0, the program will have $10 billion available for creating specialized small business access to capital programs. 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. On March 11, 2021, the U.S. Congress enacted the American Rescue Plan Act, which, in part, provides $10 billion to fund the State Small Business Credit Initiative (SSBCI). Through SSBCI 2.0, Treasury will provide funds to states, the District of Columbia, territories, and Tribal governments for small business credit support and investment . There is no set turnaround time for reviewing applications. 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. The funds SSBCI makes available benefit both small businesses and lenders because of the federal involvement. debt program, and AssistTN, the technical assistance components. An overview of the results ishere. If you did not receive the email, it could be because it was blocked by your Email Server, Firewall, Email Provider or Email Client. This is the second SSBCI initiative - Minnesota received $15 million through the Small Business Jobs Act of 2010. 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). Notice, Credit enhancements to strengthen bank loans and reduce risk, Delegated lending model where lenders manage underwriting, Streamlined procedures and quick response to project loan requests. 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. Tribal Governments must submit their completed SSBCI TA Grant Program application by December 9, 2022 at 11:59 pm ET. All said the SSBCI was responsible for helping more than 16,900 small businesses. The $1.4 billion of the first SSBCI was able to leverage more than $8 billion in private small business loans and investments. Tallahassee, FL - Today, the Florida Department of Economic Opportunity (DEO) announced the approval of the state of Florida's State Small Business Credit Initiative (SSBCI) application by the United States Department of the Treasury (U.S. Treasury) for $488 million in funding. Im having issues with my SAM.gov account. If the email is still not found, Users can trigger the email to be resent from within the Treasury Portal. Required supplemental information outlined in Appendix I of the program guidelines must be attached electronically to the application as directed on the Addenda tab. Continue with Recommended Cookies. The new bill has allocated $10 billion to the State Small Business Credit Initiative (SSBCI), which provides fundingthrough lendersto support small businesses (defined as those with under 500 employees) and nonprofits to expand economic opportunities. 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. 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. Of the total amount funded, Georgia was allocated $48,024,748. 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. Helping NYS Businesses Build Back. More importantly, 80% of the loans and investments of the first SSBCI went to small businesses with 10 or fewer employees. I have Subrecipients to report that have a DUNS, but no UEI. Find out more about our Business Pandemic Recovery Initiative programs, including tax credits and grant funding, below. Financial support for small business across states. 3.3. 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. If you would like to change your name or initials, type the changes in the Full Name and Initials fields. 4.5. The Small Business Jobs Act of 2010 (the "Act") was signed into law on September 27, 2010. This means small business owners that otherwise wouldnt get any loans could qualify under SSBCI. 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. How do you get an application for small business loan? The SSBCI Program is now a state-administered revolving loan program. The $10 billion will be distributed in the following manner: States can then use the following small business financing programs to disperse the SSBCI funds: Also known as SSBCI 2.0, the second iteration of this program maintains the initial goals of the 2010 version. Please reference the website at Treasury.gov/SSBCI for more information. What do I do? 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. If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page.. When approved a business can generally use the funds for: This can vary by state, so make sure to check. So whether you're looking for financing, technical assistance or just a single point of contact to help you navigate the breadth of . The SSBCI is managed by the U.S. Department of the Treasury, and it will be allocating the funds. For the Capital Program, Quarterly and Annual Reporting will be required for Recipients of SSBCI funding. Lending is provided by participating lenders. How much money have I been preliminarily allocated to receive? 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. Technical Assistance for small businesses will be implemented by technical service providers after U.S. Treasury completes the application and award process. Why do I need to sign up at SAM.gov? Do I really have to provide ID.me with my personal information? /. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. Weencourage those interested in Tennessee's SSBCI program to check backperiodically and/orsign-upfor the newsletter for upcoming announcements. Documents and resources from the 2010 SSBCI Allocation which operated from 2011-2017 can be found at2010-2017 Archive. You will need to provide all of the information listed in the Treasury Portal at Portal.Treasury.gov/cares. Get more information at the U.S. Department of the Treasury State Small Business Credit Initiative Capital Program Policy Guidelines SSBCI program guidelines. For further information on the transition to UEI Number, access SAM.gov. 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. LOUISIANA VETERANS FIRST BUSINESS INITIATIVE. For more information, visit the program website at Treasury.gov/SSBCI. How do I receive payment (Wire, ACH)? Quarterly Reports Each participating jurisdiction must submit to Treasury a quarterly report for the first full calendar quarter following the execution of its Allocation Agreement with Treasury and each quarter thereafter. 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. 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. (VSBFA) is the eligible entity that will apply for SSBCI 2.0 funds. 4.7. The SSBCI program works withapproved lenders to provide financial support to small businesses. 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. Please note that SAM registration can take up to three weeks; delay in registering in SAM.gov could impact timely payment of funds. 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. Through SSBCI, Treasury will provide funds to states, the District of Columbia, territories, and . While national mediaoutlets have noted that the US Dept. 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. You will need to verify your identity with ID.me. - The United States Treasury today announced it has approved up to $112.9 million for Nevada's State Small Business Credit Initiative (SSBCI). 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). Im trying to do something in the Treasury Portal and its not working. CPCFA and IBank have signed an updated joint agreement to implement SSBCI 2.0. The Treasury Portal supports most modern browsers including Microsoft Edge, Google Chrome, and an updated version of Safari. 2.8. Email instructions and a link were emailed to eligible jurisdiction point(s) of contact the same day each portal was launched. The increased access to capital stems from the state's successful application for $15,487,998 in federal funds from the U.S. Department of Treasury through the State Small Business Credit Initiative (SSBCI). Of the total amount funded, Georgia was allocated $48,024,748. 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. ID.mes support website can be found at help.id.me. You can check the status of your application at any time by logging into the Treasury Portal at Portal.Treasury.gov/cares. 4.6. Information and updates will beshared on this website. Additional guidance, forms, and other resources with information about the SSBCI program will be posted as details are available. 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. All rights reserved. Individuals, Small Businesses, or Wrong Program, 6. Why do I need to use ID.me? For the lenders there is a lower risk of loss, thus allowing them to approve loans they would ordinarily decline. SSBCI will allocate at least $500 million to Tribal governments. 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). This California paid sick leave law provides most employees in the state with paid time off if they need to be absent from work for medical reasons or to take care of an ailing family member. Eligible Entities include States, the District of Columbia, Territories, and Tribal Governments. 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. 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. The first time you click a SIGN or INITIAL field, you are asked to adopt a signature and initials. For further assistance, reach out to support.docusign.com. During this time, approximately 69 percent of the funding supported . Email: ecd.SSBCI2.0@tn.gov, Go to Economic & Community Development (ECD), is administering a second installment of the. MONTGOMERY - Governor Kay Ivey on Tuesday announced that the Alabama Innovation Corporation (Innovate Alabama) opened applications for the Innovate Alabama Supplemental Grant Program.Alabama-based recipients of Phase I and Phase II Federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants are eligible to apply for up to $250,000 in supplemental . Please note that SAM.gov registration can take up to three weeks; delay in registering in SAM.gov could impact timely payment of funds. Also please make sure you are using a supported browser. (updated. 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 It can be used for planning purposes. Delaware will receive Treasury funding to provide small business financing and technical assistance to help small and diverse businesses become capital ready. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. The funding will be distributed through various existing business lending programs, including MSBDFA, which received $45 million. 3.9. Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. 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. 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. The Treasury Portal does not work well on Internet Explorer. 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. A list of approved economic development organizations will be posted once funding has been allocated to each organization. Entities are able to manage organizational information, such as legal business name and physical address associated with a UEI number, directly from SAM.gov. 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. SSBCI provides Eligible Jurisdictions funding for: For more information, visit the program website at Treasury.gov/SSBCI. To create a Treasury Portal user account, please navigate to Portal.Treasury.gov/cares. 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) Once there, you can click on Create an ID.me account and follow the instructions. 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). 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. This is to deliver capital to small businesses that urgently need it in the U.S. 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. What was the allocation methodology for SSBCI? 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. 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. Also please verify that you are using a supported browser. 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.
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