Of the total amount funded, Georgia was allocated $48,024,748. In addition, the program will assist small businesses that are traditionally marginalized and those that have been impacted by the COVID-19 pandemic. Individuals, Small Businesses, or Wrong Program, 6. ID.me is a technology partner to multiple Government Agencies and Healthcare Providers. State Small Business Credit Initiative (SSBCI) Hello folks. Please contact our officeto obtain an application package. All applications must be submitted electronically through the Treasury Portal at Portal.Treasury.gov/cares. 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. 3.9. 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. Minnesota has been approved by the U. S. Department of the Treasury for up to $97 million for small business financing support. These organizations provideloans and business development resources to helpborrowers create and grow sustainable businesses and generate jobs for Georgians. Please refer to SAM.gov for further information. Phone: (615) 741-1888 After reviewing the RFI, commenters can post their comments on Regulations.gov. 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. Use the Auto Navigation feature (yellow tab) to help you navigate. How do I know if a specific use is eligible? Of the total amount funded, Georgia was allocated $48,024,748. This is a considerable increase from the first SSBCI and the $1.4 billion it offered in 2010. Because ID.me verifies your individual identity (and not your company or agency identity), you will need to provide some personal information during the ID.me verification process. March 31, 2023- Applications for SSBCI technical assistance funding from Tribal governments are due (application materials). Further information on how these allocations were made can be found by accessing in the Capital Program Policy Guidelines on the same page. Delaware will receive Treasury funding to provide small business financing and technical assistance to help small and diverse businesses become capital ready. 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. Financial support for small business across states. IBank is the lead applicant and they have signed an allocation agreement with U.S. Treasury. An online application portal is forthcoming. I am trying to fill out the application. What information do I need to provide in order to receive the funding? Why do I need to sign up at SAM.gov? 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. Also please verify that you are using a supported browser. The first time you click a SIGN or INITIAL field, you are asked to adopt a signature and initials. 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). For the Capital Program, Quarterly and Annual Reporting will be required for Recipients of SSBCI funding. 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. Florida received a total SSBCI allocation of $97,662,349. The second-round application period for this grant is open until May 25. U.S. Treasury is in the process of accepting applications for SSBCI 2.0 Technical Assistance. Funding is available from U.S. Treasury in three tranches, and the first tranche of funding - $142 million - is ready for deployment. The consent submitted will only be used for data processing originating from this website. We believe that access to loan capital is a fundamental component of an equitable, vibrant, and growing economy. 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. 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). State Small Business Credit Initiative SSBCI Self-Service Resources SSBCI Self-Service Resources View complete set of self-service resources. Find out more about our Business Pandemic Recovery Initiative programs, including tax credits and grant funding, below. The initial SSBCI program (SSBCI 1.0) was funded with $1.5 billion to strengthen state programs that support financing of small businesses. STEM-based companies can receive up to $100,000 for eligible expenses, and other businesses can get up to $50,000. 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. Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. Further information on how these allocations were made can be found by accessing in the Technical Assistance Grant Program Guidelines on the same 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. /. Businesses will apply for funding through their local economic development organization. 60 Executive Park South, NE Box 12428 Austin, Texas 78711 (512) 936-0100 $100 million of that amount has been transferred to MBDA to assist with this effort. LOUISIANA VETERANS FIRST BUSINESS INITIATIVE. If you would like to change your name or initials, type the changes in the Full Name and Initials fields. The funds will also support recipient jurisdictions in promoting American entrepreneurship and democratizing access to startup capital across the country, including in underserved communities. "Small Business Trends" is a registered trademark. When the Finish button becomes active, you can complete the signing. Home ->> CPCFA ->> State Small Business Credit Initiative, Please send program inquiries to ssbci@treasurer.ca.gov. Please reference the website at Treasury.gov/SSBCI for more information. State Small Business Credit Initiative (SSBCI), 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. Documents, timelines, and other resources related to the 2021 allocation of the SSBCI program can be accessed here2021 Archive. 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. Interested in doing business in Pennsylvania? 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. / What is the status of my application? /. When logged into the Treasury Portal, click on the Avatar in the top right-hand corner of the screen. 8.3. SmallBizLoansProgSummary102517.pdf. Please refer to the Federal Service Desk for assistance with your SAM.gov account. And find a statewide network of centers staffed by people who can walk you through how to apply. Additional guidance, forms, and other resources with information about the SSBCI program will be posted as details are available. 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). What steps do I need to complete in ID.me? What Entities are eligible for the Capital Program? The initiative features a newly developed refinancing mechanism to strengthen Community Development Financial Institutions lending to small business. Please note that Treasury has assigned individual Outreach Managers to each State, Territory, and Tribal Government to serve as an individualized point of contact for the SSBCI Program. Through SSBCI 2.0, Treasury will provide funds to states, the District of Columbia, territories, and Tribal governments . Also please make sure you are using a supported browser. Technical Assistance for small businesses will be implemented by technical service providers after U.S. Treasury completes the application and award process. View complete set of self-service resources. 4.3. 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. The funding will be distributed through various existing business lending programs, including MSBDFA, which received $45 million. 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For further information on the transition to UEI Number, access SAM.gov. 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. For more information, visit the program website at Treasury.gov/SSBCI. I have Subrecipients to report that have a DUNS, but no UEI. Empire State Development's Small Business Division supports the development and expansion of businesses with under 100 employees - directing an array of programs and initiatives supporting small business growth and helping entrepreneurs maximize opportunities for success. If you have all the required documents, the process should take only a few minutes. Applications will be accepted between July 18, 2022 through August 19, 2022. For more information, please visit the U.S. Department of the Treasury's website. State Small Business Credit Initiative (SSBCI 2.0) Current Status The U.S. Treasury has awarded $1.181 billion in SSBCI 2.0 funds to California, divided equally between CPCFA and IBank. Helping NYS Businesses Build Back. ID.mes support website can be found at help.id.me. 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). The deadline for proposals will also be revised. to get your personalized list of resources, build your own business model canvas, or locate resources near you. The Small Business Jobs Act of 2010 (the Act) became law in the fall of 2010. 4.1. 2021 State Small Business Credit Initiative (SSBCI) Application Material Documents and resources for the 2021 SSBCI program. 3.2. 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. Tribal governments may request allocation information by emailing ssbci_information@treasury.gov or by accessing the application portal. For more information, please visit Treasury.gov/SSBCI. 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. How do I receive payment (Wire, ACH)? The State of Georgia application to the U.S. Treasury was approved and the allocation agreement executed in December 2011. CPCFA and IBank have signed an updated joint agreement to implement SSBCI 2.0. Please check your junk email, confirm your email address with the sender and select to trust all emails from DocuSign. This new portal is referred to as SSBCI Weencourage those interested in Tennessee's SSBCI program to check backperiodically and/orsign-upfor the newsletter for upcoming announcements. If you are a business or a lending institution that is interested in participating in small business financing programs through the SSBCI, please go to http://treasury.gov/ssbci and click on the List of Proposed Programs and Contacts link to locate the State or Territorial contact in your area. Indicate if you want to select a preformatted signature style or if you will draw your signature. Any changes to the application deadline will be posted on the website. 3.11. Helping to build strong, vibrant communities. You will need to verify your identity with ID.me. Since 2002, the OCAP has assisted countless small businesses with their working capital and fixed-asset financing needs. Small business financing programs, which includes Capital Access programs, Loan Participations, Loan Guarantees, Collateral Support, and Venture Equity programs. What does the Change to UEI Number mean for Recipients? All Entities can obtain a Unique Entity Identifier (UEI) number on the Sam.gov website and register for an account if needed: 4.4. 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. 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). To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. 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. (note that the comment deadline has been extended). For SSBCI 2.0, Treasury has allocated $10 billion to provide funding for (1) small business financing, and (2) technical assistance to help small and diverse businesses become capital ready. What is the Unique Entity Identifier (UEI) number? Preliminary allocations were determined in advance by Treasury. Can you send me the form to fill out? 2.4. If you are a Participating Jurisdiction and do not know who your outreach manager is, please contact ssbci_information@treasury.gov. It allowed states to design and implement programs to accommodate various business needs. 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 funds SSBCI makes available benefit both small businesses and lenders because of the federal involvement. Information regarding webinars will be emailed to the points of contact and Authorized Representatives provided in the Notices of Intent. For the lenders there is a lower risk of loss, thus allowing them to approve loans they would ordinarily decline. What is ID.me? List of SSBCI Capital Programs and Contacts. If you are having difficulty registering on ID.me, please refer to ID.me Contact Support for assistance. Small Business Credit Initiative Launches in Nevada. What do I do? The SSBCI is managed by the U.S. Department of the Treasury, and it will be allocating the funds. It seems the federal government offers loan guarantees and funds to states, who in turn offer loans processed by banks and credit unions. 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. To access the reporting guidance, scroll down to the Program Rules and Materials section then click on Capital Program Reporting Guidance. Connecticut extends a big welcome to small businesses across a wide array of sectors. Directory of State of Nevada Employees and Elected Officials with phone numbers, emails and general information. First, verify that your name and initials are correct. 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. What Entities are eligible for the Technical Assistance Grant Program? 3.3. The State Small Business Credit Initiative (SSBCI) is a $10 billion small business program managed by the U.S. Department of the Treasury (Treasury). 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 funds will be used to implement the five types of programs allowed under SSBCI 2.0. 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). How do I edit my individual account information? Minnesota will receive funds in three disbursements over several years. Tribal Governments must initiate and submit their completed SSBCI capital program application by October 31, 2022, at 11:59 p.m. 4.7. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. 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. 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. If you are registered in SAM.gov, your UEI number has already been assigned and is viewable in your SAM.gov account. 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). During this time, approximately 69 percent of the funding supported . Currently, non-Tribal applications must have been initiated by December 11, 2021 and completed by February 11, 2022 at 11:59pm ET (Eastern Time). Congress appropriated $1.5 billion to the Initiative. 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). Economic development organizations must submit the online Electronic Single Application (ESA) for assistance. All applications and required supplemental information must be electronically submitted by close of business on August 19, 2022. Overview. 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 maximum amount of the credit guaranty is $200,000. The U.S. Treasury has awarded $1.181 billion in SSBCI 2.0 funds to California, divided equally between CPCFA and IBank. It also provides technical assistance to small businesses applying for SSBCI funding. 4.8. It was funded at $1.5 billion and implemented by Treasury and states and territories from 2011 through 2017. Maine's Path to Recovery The $4.5 billion investment in Maine from the American Rescue Plan (ARP) is an unprecedented opportunity to support recovery from the COVID-19 pandemic, to improve the lives and livelihoods of Maine people, to make investments in solving Maine's long-term challenges, to develop strategies for new opportunities, and to strengthen our state for years to come. 4.5. It is their responsibility to notify financial personnel within their organization on their end of the incoming payment. The Treasury Portal does not work well on Internet Explorer. Initial payments will occur sometime after the application is fully reviewed and approved and an allocation agreement is signed. 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. Any changes to the application deadline will be posted on the website. Documents and resources from the 2010 SSBCI which operated from 2011-2017 will be revised for the 2021 round of SSBCI. provided $10 billion to fund the State Small Business Credit Initiative SSBCI. The first step to becoming an approved lender is to complete a lender application package and submit it to DCA for review. It can be used for planning purposes. 3.8. 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.
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