U.S. Department of the Treasury

CREDIT SUPPORT PROGRAMS

Innovate Alabama Collateral Support Program (CSP)

The Innovate Alabama CSP will create cash accounts with participating lenders to enhance collateral when a borrower does not meet collateral requirements of the lender. The program is expected to support loans ranging from $250,000 to $5 million. It is anticipated the average loan size will be around $450,000 which will be supported with cash deposits ranging between 20% and 50% of the loan amount.  The program is expected to be particularly useful for businesses that traditionally have had difficulty collateralizing their loans, including tourism, restaurants, retail, and similar sectors.  Innovate Alabama’s CSP is also expected to assist lenders with construction projects that are financed with an SBA 504 structure.

Eligible lenders will include banks, credit unions, revolving loan funds, and CDFIs; smaller community banks are expected to particularly benefit as these lenders sometimes reach regulatory lending limits with their small business borrowers where cash collateral can allow a bank to lend above these limits. Annual maintenance fees for the CSP are reduced for underserved businesses.

Learn more about the Innovate Alabama Collateral Support Program (CSP) here.

Innovate Alabama W. Howard Wills Small Business Loan Guarantee Program (LGP)

The Innovate Alabama’s W. Howard Wills Small Business LGP provides up to a 50 percent guarantee on loans that would not otherwise be approved by the lender without this additional mitigation. The anticipated average principal loan size is projected to be $200,000 with a $100,000 guarantee. Generally speaking, the maximum eligible loan amount is $5,000,000 with exceptions considered on a case-by-case basis up to $20,000,000.  Eligible lenders include credit unions, banks, revolving loan funds, and community development financial institutions with special attention to community banks in rural Alabama.

Eligible business uses include both term loans and lines of credit financing start-up costs, working capital, business procurement, franchise fees, equipment, inventory, as well as real estate purchases, construction, renovation, or tenant improvements.

Eligible lenders will include banks, credit unions, revolving loan funds, and CDFIs. The LGP offers higher guarantee levels for loans to underserved businesses and for certain CDFI lenders.

Learn more about the Innovate Alabama W. Howard Wills Small Business Loan Guarantee Program (LGP) here.

Innovate Alabama Loan Participation Program (LPP)

The Innovate Alabama Small Business LPP purchases up to 30 percent of an eligible loan originated by a participating lender with the lead loan amount ranging from $100,000 to $5 million. Eligible loans include term loans, construction drawdown loans and revolving lines of credits, and proceeds can be used for most business purposes matching those of the LGP. Participating lenders must purchase back the participation on the second anniversary (third anniversary for underserved borrowers). The LPP also requires the lender to pass along an interest rate reduction of 0.25% (0.50% for underserved businesses) to the borrower during the first two years of the loan. Lenders are able to retain a 3.00% servicing fee (3.50% for underserved borrowers) on the participated loan amount.

Eligible lenders will include banks, credit unions, revolving loan funds, and CDFIs.

Learn more about the Innovate Alabama Loan Participation Program (LPP) here.

CREDIT SUPPORT PROGRAMS

Alaska Loan Guarantee Program (LGP)

The LGP provides participating lenders guarantees up to 50 percent of an originated  loan amount ($20 million loan maximum). This helps lower the lender's risk to underserved businesses and Very Small Businesses (VSBs) across the State of Alaska. Upon approval, the guaranteed amount of SSBCI funds will be placed with the lender into a Certificate of Deposit (CD). The program’s impact is expected to be greatest in rural remote communities that have struggled to attract capital in commercial fishing, manufacturing, and tourism sectors with high upfront capital costs.

Learn more about the Alaska LGP here.

Alaska Loan Participation Program (LPP)

The LPP provides both companion loans originated by participating lenders and loan purchase options to support loan participation for qualifying small businesses. Under the companion loan option, Alaska will purchase a subordinate loan from the lender which will  have below market interest rates. Under the purchased participation, Alaska will purchase a portion of a loan (1st deed) from a private lending institution after the loan has closed and funded to an eligible borrower. The program will participate in an amount equal to up to 50 percent of the total loan, with a maximum of $10 million in SSBCI support. This program helps small businesses across Alaska lower the cost of borrowing in the high interest rate environment and reduces the lender’s rate uncertainties.

Learn more about the Alaska LPP here.

Alaska Collateral Fund Program (CFP)

The CFP funds collateral support to lenders extending credit to qualifying small businesses on a loan-by-loan basis. Lenders can apply for up to 25 percent of the loan collateral requirements  to support business loan applications with the borrower supplying a minimum of 5 percent of the collateral required. The program will pledge a Certificate of Deposit (CD) as collateral for a business loan or credit facility to help the business borrower meet the lender’s collateral requirements. The collateral will be deposited with a lending institution after the loan has closed.

The program works with lenders, CDFIs and Federal Credit Unions that serve rural and remote areas and underserved small businesses in all of Alaska in industries such as commercial fishing (including permit purchasing), tourism, and small-scale manufacturing, start-ups and other businesses that could benefit from the program. Collateral supported loans are expected to average around 20 percent  of the loan amount, ranging in size from $25,000 to $250,000.

Learn more about the Alaska CFP here.

CREDIT SUPPORT PROGRAMS

Arizona Loan Guarantee Program (Arizona LGP)

The Arizona LGP guarantees up to 50 percent of small business loans offered through partner Community Development Financial Institutions (CDFIs). The initial CDFIs selected for participation will offer loans from $10,000 up to $20,000,000. Eligible uses include startup costs, working capital, equipment, inventory, and the purchase, construction, renovation, or tenant improvements of an eligible place of business.

The LGP provides access to capital through CDFIs that target small businesses in low- and moderate-income communities, underserved communities, rural areas, and other underserved small businesses. The program’s focus is on services in rural areas and certain low-income urban areas such as South Phoenix, South Tucson, Guadalupe, and Maryvale.

Learn more about the Arizona LGP.

Participating lenders in the Arizona LGP:

Clearinghouse CDFI

Lendistry

Prestamos CDFI

CREDIT SUPPORT PROGRAMS

ADFA Capital Access Program (CAP)

The ADFA CAP provides portfolio insurance for lenders to mitigate losses from loan defaults through a loan loss reserve account maintained on deposit with the lender. The account is funded by a borrower contribution of at least 3 percent of the loan value but no more than 7 percent, and a matching CAP contribution.

Learn more about CAP and the application materials here.

Arkansas Small Business Revolving Loan Guaranty Program (LGP)

The Arkansas LGP provides guarantees of 10 percent to 50 percent of loans valued up to $500,000. The program provides credit enhancements to address collateral shortfalls or the inadequate equity of business owners. The program focuses on underserved companies.

Learn more about the Arkansas Small Business Revolving Loan Guaranty Program (LGP) here.

ADFA Disadvantaged Business Enterprise (DBE) Minority- and AEDC Women-Owned Business Enterprises (MWOBE) Loan Mobilization Revolving Fund (DBE MWOBE – Loan Mobilization Revolving Fund)

The DBE MWOBE – Loan Mobilization Revolving Fund offers loan guarantees up to 80 percent of the first $100,000 of loan value. The program’s minimum guarantee is $10,000 and the maximum loan is $500,000. Eligible loan uses include business expansion, machinery and equipment purchases and repairs, and general working capital needs.

Eligible businesses must be owned 51 percent by minority individuals, women, or veterans. The DBE MWOBE – Loan Mobilization Revolving Fund is an existing program was created to promote the growth and sustainability of these underserved businesses by providing guarantees and real-world technical and professional assistance, certification, procurement, networking, capital and contracting opportunities with state and federal government, higher education, lending institutions and private sector.

Learn more about the DBE and MWOBE here.

ADFA Bond Guaranty/Loan Participation Program (LPP)

The ADFA Bond Guaranty LPP provides direct loans of up to 20 percent of total project financing with the maximum project financing not exceeding $20 million. The borrower is required to provide evidence of funding commitments and receipt of private financing or contributed equity equal to at least $4 for each $1 of SSBCI funds used in the project.

Financial institutions operating in Arkansas, the Arkansas Economic Development Commission and the Arkansas Capital Corporation are the primary lenders that ADFA participates with in financing transactions. The LPP funds are used to restore and revitalize agricultural and industrial sectors, specifically in manufacturing and export trade.

Learn more about the ADFA Bond Guaranty/Loan Participation Program (LPP) here.

ADFA Bond Guaranty/ CDFI Loan Participation Program (LPP)

The Arkansas LPP provides loan participations by providing funding to Community Development Finance Institutions (CDFIs) to provide companion loans representing up to 50 percent of loans issued by a CDFI. The maximum participation or companion loan is $10 million, and the borrower is required to provide evidence of funding commitments and receipt of private financing or contributed equity equal to at least $1 for each $1 of SSBCI funds used in the financing.

Learn more about the ADFA Bond Guaranty/ CDFI Loan Participation Program (LPP) here.

CREDIT SUPPORT PROGRAMS

California Capital Access Program (CalCAP for Small Business)

CalCAP provides portfolio insurance to enrolled lenders through a reserve account to cover losses on enrolled loans. The lender and borrower contribute a combined 4 percent to 7 percent of a loan or line of credit to the reserve account which is then matched by CalCAP. The reserve account is maintained at each participating lender or at the Trustee Bank. The loan proceeds can cover a wide variety of business needs, such as working capital for inventory purchases, equipment purchases, start-up costs, and eligible construction or renovation of buildings. 

Learn more about California Capital Access Program (CalCAP for Small Business).

Review the list of participating CalCAP lenders.

California Small Business Loan Guarantee Program (SBLGP)

The SBLGP provides guarantees of up to 80 percent of a loan or $5.0 million (whichever is less) with a $20 million loan cap. Eligible use of loan proceeds includes bridge loans, construction, inventory, equipment purchases and working capital.

Borrowers work directly with lenders to apply for a loan. The lender then works with a non-profit Financial Development Corporation (FDC) to secure the guarantee on the loan. The program will expand access to capital by building on existing relationships with FDCs, Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), and other lenders serving target businesses and communities. 

Learn more about California Small Business Loan Guarantee Program (SBLGP).

Review the list of participating lenders and FDCs.

California Collateral Support Program (CalCAP CS)

CalCAP’s CS program provides collateral support by pledging cash to lenders to cover the collateral shortfalls of small business borrowers. The collateral support can be up to 40 percent of a loan amount; an additional 10 percent may be possible if the business is in a Severely Affected Community (SAC). The maximum collateral support is $2.5 million per loan with a minimum loan amount of $50,000 and a maximum of $20 million.
Loan proceeds may be used for working capital, equipment purchase, construction. Eligible lenders include banks, credit unions, Community Development Financial Institutions (CDFIs), and other lenders. 

Learn more about California Collateral Support Program (CalCAP CS).

Information about the Severely Affect Communities program.

California Collateral Support Program (CalCAP CS) program brochure.

Review the list of participating CalCAP CS lenders.

CREDIT SUPPORT PROGRAMS

CLIMBER Loan Fund (CLIMBER)

The CLIMBER Loan Fund is a loan participation program that provides up to $10 million to purchase participations in loans originated by banks and other eligible lenders. CLIMBER purchases participations of up to 80 percent of loans using three sources of funds - Colorado will provide 16 percent using state funds, private investors will provide 56 percent, and SSBCI funds will provide the remaining 8 percent.

This LPP will target small businesses in underserved and economically disadvantaged areas of the state. The program focuses on underserved small business owners, rural businesses, businesses located in low- to moderate-income areas, and businesses situated in distressed and otherwise underserved areas. 

Learn more about CLIMBER.

Apply to be a CLIMBER Loan Fund lender.

Cash Collateral Support Program (CSP)

Colorado’s CSP supports loans by pledging a cash deposit when a business is unable to meet a lender’s collateral requirements. The deposit will be 25 percent of the principal loan amount or $500,000, whichever is less. The maximum loan size that can be supported through this program is $20 million.

Learn more about the program along with lender and borrower applications.

Cash Collateral Support Program (CSP) Program contact information.

EQUITY/VENTURE CAPITAL PROGRAMS

CT Innovations Equity Fund

The CT Innovations Equity Fund Program provides equity support to small businesses by directly investing in companies operating in strategic industry sectors identified as important to state economic development. Funding will primarily be accessible to early-stage companies through the Connecticut Future Fund (Future Fund) and the ClimateTech Fund (CT Fund). The Future Fund will invest in early-stage companies with investments of $250,000 to $1 million each, and funded companies will receive strategic support from an experienced team of advisors. The Future Fund is industry agnostic, but companies having diversity at the board and executive level will be targeted. The CT Fund will invest in early-stage companies focused on energy, transportation/mobility, food/agriculture, water, climate-related software, waste/circular economy, advanced materials/manufacturing, carbon removal/sequestration and more, offering investments of $150,000 to $2 million per company in each financing round plus the potential for follow-on investment. The program funding is designed to support underrepresented founders and to grow, attract and retain the most promising green tech companies in Connecticut.

Learn more about the Future Fund and access the investment intake form.

Learn more about the CT Fund and access the investment intake form.

CT Venture Debt Fund

The Connecticut Venture Debt Fund provides capital support to early-stage companies in capital intensive industries raising a seed, Series A or Series B investment that would benefit from additional financing. Funding amounts range from $150,000 to $2 million, and the interest rate will typically be fixed between 6 and 12 percent for the life of the debt. Warrants are part of the overall pricing and range from 5 to 25 percent of the loan amount. The debt’s maturity usually extends from three to five years. CII seeks technology-based companies based in Connecticut with a focus on high priority industries such as bioscience, IT, clean tech, photonics and advanced materials.

Learn more about the CT Venture Debt Fund.

CREDIT SUPPORT PROGRAMS

Delaware Capital Access Program (DCAP)

DCAP provides portfolio insurance for loans enrolled in the program through a loan loss reserve account created at each enrolled financial institution. The account is funded by contributions by lender and borrower of up to 4 percent of the loan value which is matched by DCAP. Delaware plans to supplement contributions with other non-Federal public funds to provide up to 5 times the combined lender and borrower contribution (up to $30,000) for any businesses owned by a member of an underserved community. The program is expected to support an average loan size of $130,000.

Learn more about DCAP and view lender enrollment materials.

Delaware Loan Participation Program (DELPP)

DELPP offers up to a 50 percent participation in eligible small business loans for equipment and working capital. DELPP will purchase a portion of a loan originated and administered by a participating lender. The program’s portion of the loan will carry an interest rate fixed at the WSJ prime rate, which when combined with the rate of the lender’s portion of the loan, can result in a lower blended interest rate for the borrower.

The program expects the average participation to be about 35 percent. DELPP can assist loans of up to $5 million although if participation exceeds $500,000, additional approvals may be necessary. 

Learn more about the program and view lender enrollment materials.

CREDIT SUPPORT PROGRAMS

DC Collateral Support Program (CSP)

The DC CSP provides a cash deposit pledged as collateral to eligible lenders to enhance the collateral coverage of a borrower that is unable to meet a lender’s collateral requirements. The maximum support is 50 percent of the loan, not to exceed $1 million of support.

CSP assists term loans, lines of credit and commercial mortgages. Eligible uses of loan proceeds include working capital, inventory, expansion, renovations, start-up costs, and eligible refinancing transactions. Eligible lenders include federally insured commercial lenders, federally insured credit unions, and Community Development Financial Institutions (CDFI).

Learn more about the DC Collateral Support Program (CSP) here.

DC Loan Participation Program (LPP)

The Loan Participation Program (LPP) provides capital to small businesses by either purchasing interest in the loans made by lenders or lending alongside private lenders to reduce the risk and expense of eligible loans. The maximum support is 50 percent of the loan, not to exceed $1 million of support.

LPP assists term loans, lines of credit and commercial mortgages. Eligible uses of loan proceeds include working capital, inventory, expansion, renovations, start-up costs, and eligible refinancing transactions. Eligible lenders include federally insured commercial lenders, federally insured credit unions, and Community Development Financial Institutions (CDFI).

CREDIT SUPPORT PROGRAMS

Florida Capital Access Program (CAP)

The Florida CAP provides a portfolio insurance reserve account that can be used by a lender to offset loan losses. The account is funded by the lender and borrower each providing between 1 percent and 3.5 percent which is matched by the CAP program. The account is maintained at each lender and can be tapped in the event of a default. Loan proceeds can be used for most business purposes.

Learn more about the Florida Capital Access Program.

Florida Small Business Loan Program – Collateral Support Program (CSP)

The Florida Small Business Loan Program – CSP provides collateral support of up to 80 percent of a loan’s value for loans with a collateral shortfall. The program expects most support will be less than 40 percent of loan value. The program is available for transactions ranging from $5,000 to $5 million and will not provide credit support if a given transaction exceeds $20 million. Community banks and nonprofit mission-based lenders, particularly CDFIs, are key lending partners and target underserved populations. 

Learn more about the Florida Small Business Loan Program – Collateral Support Program.

Florida Small Business Loan Program – Loan Participation Program (LPP)

The Florida Small Business Loan Program – LPP purchases participations of up to 80 percent of loan originated by a lender although most participations will be between up to 20 percent of the loan value. The program is available for transactions ranging from $250,000 to $5 million. Eligible uses of loan proceeds include startup costs, working capital, business procurement, franchise fees, equipment, inventory, as well as the purchase, construction renovation or tenant improvements of an eligible place of business. Community banks and nonprofit mission-based lenders, particularly CDFIs, are key lending partners and target underserved populations.

Learn more about the Florida Small Business Loan Program – Loan Participation Program (LPP).

Florida Small Business Loan Program – Loan Guarantee Program (LGP)

The Florida Small Business Loan Program – LGP provides up to a 50 percent guarantee for loan or lines of credit between $5,000 and $20 million. The loan proceeds may be used for most business purposes including lines of credit, construction, and working capital. Community banks and nonprofit mission-based lenders, particularly CDFIs, are key lending partners and target underserved populations.

Learn more about the Florida Small Business Loan Program – Loan Guarantee Program.

CREDIT SUPPORT PROGRAMS

Georgia Small Business Credit Guaranty Program (SBCG)

The Georgia SBCG guarantees 50 percent of small business loans of up to $1 million with no more than $5 million in guarantees to any single borrower. Guarantees are offered through banks, credit unions and Community Development Financial Institutions (CDFIs).  SBCG is eligible for both term loans and lines of credits.

Eligible business purposes include start-up costs, working capital, franchise fees, equipment, inventory, as well as the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment purposes.  Interest rates, maturity, collateral, and other loan terms are negotiated between the borrower and the lender.

Learn more about the SBCG here.

Georgia Loan Participation Program (GA LPP)

The Georgia LPP purchases subordinate participations up to 25 percent of loans offered by partner banks, CDFIs and credit unions, and 30 percent of loans offered by CDFI banks and minority depository institutions (MDIs).  The purchased participation loan ranges from $100,000 to $5 million.  No single borrower may have more than $5 million in loans through this program. Banks, credit unions, and CDFIs are eligible to participate in the program.

Eligible business purposes include start-up costs, working capital, franchise fees, equipment, inventory, as well as the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment purposes.  Interest rates, maturity, collateral, and other loan terms are negotiated between the borrower and lender.

Learn more about the GA LPP here.

Georgia CDFI Program (GA CDFI)

The GA CDFI is a companion loan program among the non-depository CDFIs based in Georgia and the private lending institutions.  The program provides access to capital to the borrowers, gap financing for the banks, and attractive loan terms.  Funds are advanced to the CDFIs on a loan-by-loan basis, which the CDFI then lends to an eligible business.  There is no minimum loan amount, and the maximum loan amount is $1,250,000.  Most business purposes are eligible uses for the CDFI Program.

Learn more about the GA CDFI here.

CREDIT SUPPORT PROGRAMS

Loan Guarantee Program (LGP)

The Loan Guarantee Program (LGP) guarantees up to 75 percent of a loan originated by a participating lender with the guarantee amount not exceeding $500,000.  Loan funds can be used for business purposes including start-up costs, working capital, business expansion, franchise fees, equipment, inventory, and the purchase, construction, renovation or improvements of an eligible place of business. The LGP is targeted (but not limited to) several industries including solar technology, agriculture and aquaculture, satellites and unmanned drone research, pharmaceuticals, naval repairs, and construction.

Learn more about the Guam LGP and participating lenders.

Collateral Support Program (CSP)

The CSP provides cash collateral in a savings account at the participating lender when a borrower has insufficient collateral to meet lender requirements. CSP will provide collateral support of up to 49.9 percent of a loan’s value with a minimum loan amount of $25,000 and a maximum loan amount of $1 million. Loan proceeds are to be used for any standard business purpose, including start-up costs, working capital, franchise fees, the acquisition of equipment or inventory, or the purchase, construction renovation, or tenant improvements of an eligible place of business.

Learn more about the Guam CSP and participating lenders.

CREDIT SUPPORT PROGRAMS

HI-CAP Loans

The HI-CAP Loans program provides funding for supporting a loan originated by a participating lender either through a companion loan matching the loan value or through the purchase of a participation of up to 50 percent of the loan. The program is best suited for businesses and non-profits spearheading transformative projects with community impact. Projects considered transformative include (but are not limited to) those in renewable energy, innovation, local agriculture, dual-use technology, manufacturing, or creative industry projects that spur economic development. The program targets catalytic projects that will diversify Hawaii’s economy and lessen its reliance on tourism which incurred high rates of business failures and unemployment during the COVID-19 pandemic.

Learn more about the HI-CAP Loans Program here.

HI-CAP CDFI Loan Pool Program

The HI-CAP CDFI Loan Pool Program provides loans to Community Development Financial Institutions (CDFIs) for the purpose of funding up to 50 percent of a loan transaction to an eligible small business. The program is designed as a direct lending program to non-depository CDFIs that will re-lend SSBCI funds matched with the CDFI’s own funds to very small and underserved businesses.

Eligible business purposes include, but are not limited to, start-up costs; working capital; franchise fees; and acquisition of equipment, inventory, or services used in the production, manufacturing, or delivery of a business’s goods and services, or in the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment purposes.

Learn more about the HI-CAP CDFI Loan Pool Program here.

The CDFI enrollment application can be found here.

HI-CAP Collateral

The HI-CAP Collateral Program is a collateral support program that provides cash deposits to participating lenders to enhance the collateral coverage of a borrowers. The program is designed to help businesses strategically enhance their business models and reach new markets. The program expects to be effective in supporting loans to “displaced hospitality workers (who) are contemplating starting small businesses” and loans to underserved businesses.

Eligible business purposes include, but are not limited to, start-up costs; working capital; franchise fees; and acquisition of equipment, inventory, or services used in the production, manufacturing, or delivery of a business’s goods and services, or in the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment purposes. SSBCI funds may be used to purchase any tangible or intangible assets except goodwill.

Learn more about the HI-CAP Collateral Loan Program here.

The lender enrollment application can be found here.

CREDIT SUPPORT PROGRAMS

Idaho Small Business Revolving Loan Fund (ISBRLF)

The ISBRLF provides companion loans ranging from $25,000 to $750,000 representing an average of 28 percent participation of the financing package. The eligible uses of the loan include working capital, equipment and real estate. Five Economic Development Districts (EDDs) – non-profit organizations designated by the US Economic Development Administration – provide the companion loans to leverage private financing offered local lending institutions, banks and credit unions. The program targets small businesses in underserved and economically disadvantaged communities throughout the state and communities with high concentrations of migrant agricultural and low-income rural populations.

For more information, visit one of the participating Economic Development Districts (EDDs):

• Panhandle Area Council, Inc.
• Clearwater Economic Development Association, Inc.
• Region IV Development Association, Inc.
• Southeast Idaho Council of Governments, Inc.
• East Central Idaho Planning and Development Association, Inc.

Collateral Support Program (CSP)

The CSP provides funds to support a loan where a borrower is unable to meet a lender’s collateral requirements. The program can secure up to 20 percent of a loan where there is insufficient collateral by depositing funds into a lender account. Lenders’ loan amounts with maturities of less than one year are collateralized up to a maximum of 20 percent or $1 million, whichever is less; loans of one to five years are collateralized up to a maximum of 20 percent or $500,000, whichever is less; and loans with maturities exceeding five years are collateralized up to a maximum of 15 percent or $250,000, whichever is less. Eligible uses of loans include start-up costs, working capital, equipment purchases. Inventory financing, construction and acquisition of owner-occupied real estate.

Learn more about the Idaho CSP and review application materials here.

Review an Idaho CSP brochure here.

Participating Idaho CSP lenders can be found here.

CREDIT SUPPORT PROGRAMS

Advantage Illinois (AI) Participation Loan Program (PLP)

The AI PLP purchases participation in a loan originated by another lender.

Loan proceeds may be used for most business expenses, excluding investment real estate investment projects, (where Borrowers occupy less than 51% of the premises being purchased), goodwill,  and some other restrictions on industries or uses. The program further expands access to capital for underserved businesses.

Learn more about Advantage Illinois (AI) Participation Loan Program (PLP) here

The AI LGP guarantees loans issued by enrolled lenders and further enhances access to capital for underserved businesses.

The AI LGP guarantees loans issued by enrolled lenders and further enhances access to capital for underserved businesses.

Learn more about Advantage Illinois (AI) Loan Guarantee Program (LGP) here

Climate Bank Finance Participation Loan Program (CBFPLP)

The CBFPLP purchases participation in loans originated by other lenders. The maximum participation in an individual loan may not exceed the lesser of 25 percent of the overall cost of any total project for which a loan is made nor more than 50 percent of the loan amount in which IFA is participating, unless the Authority's Board determines in writing that it is in the best interests of the State to waive either limit; however, IFA's participation in any loan will never exceed 50 percent. The participations are focused loans for businesses involved in the environmental and climate transition sectors.

The program further expands access to credit for underserved or credit disadvantaged businesses. Learn more about CBFPLP program here

CREDIT SUPPORT 
PROGRAMS

Loan Fund Investment Program (FIP)

The Indiana FIP is a loan participation program that purchases up to 50 percent of a loan issued by lenders that are mission-oriented, non-traditional lenders (e.g., CDFIs, revolving loan funds, and other special focused lenders). Eligible uses include such business purposes as expenses, equipment purchases, and in some cases real estate.

The FIP program expands access to capital for underserved communities by requiring lenders to have a track record of equitable lending and outreach to underserved entrepreneurs including those in minority and distressed communities.

Learn more about Indiana FIP here.

CREDIT SUPPORT PROGRAMS

Manufacturing 4.0 Loan Participation Program (Manufacturing 4.0 LPP)

The Manufacturing 4.0 LPP purchases up to 20 percent of a loan approved by a lender for purchases related to investments in Manufacturing 4.0 technologies. The minimum request is $200,000 or 20 percent of a $1 million; the maximum request is $2 million or 20 percent of a $10 million loan. Eligible uses including acquisition of Industry 4.0 fixed asset equipment or software assets needed to implement Industry 4.0 technology, and construction or renovations of owner-occupied real estate to support Industry 4.0 equipment installation.

The Manufacturing 4.0 LPP is designed for manufacturers with an emphasis on those locations in rural areas. Eligible businesses must derive a minimum of 51 percent of their revenue from the sale of manufactured goods, or via a contribution to automation activities.

Learn about the Manufacturing 4.0 LPP here.

Small Business Collateral Support Program

The Small Business Collateral Support Program provides collateral support up to 40 percent  of a loan amount ranging from $75,000 to $250,000 for loans where the borrower is unable to meet a lender’s collateral requirements. The collateral support will be provided through a certificate of deposit placed at the financial institution. Eligible uses for the loan include most business purposes including start-up costs, working capital, equipment purchases, and construction.

The program is targeted for businesses that are 51 percent or more owned by individuals who are women, minorities, service-disabled veterans, individuals with disabilities or have a long-term residence in a rural community or CDFI Investment area.  Businesses must also be headquartered in the state of Iowa, operating for profit and have an annual gross revenue of less than $4 million.

Learn about the Iowa Small Business Collateral Support Program here.

CREDIT SUPPORT
PROGRAMS

GROWKS Loan Fund

The GROWKS Loan Fund provides subordinated companion loans of up to $1 million representing a match from 10 percent to 200 percent of a senior loan through various loan programs. NetWork Kansas works with more than 500 partner lenders located throughout the state to originate the senior loan.

The companion loan’s match and leverage depend on the business location, industry and ownership demographic – from a high of 200 percent match (67 percent support) for Minority/Women Led Starter Loans to a 10 percent match (9 percent support) of Target Sector Loans. Eligible uses include most business purposes including equipment purchases, construction and qualified real estate transactions.

Learn about the GROWKS Loan Fund here.

CREDIT SUPPORT PROGRAMS

Kentucky Collateral Support Program (KYCSP)

The KYCSP provides a pledged asset (cash collateral account) to enrolled lenders of up to 20 percent of the loan value. Businesses owned by a member of an underserved community may receive support exceeding 20 percent. The maximum aggregate outstanding loan amount(s) that may be enrolled for any single borrower or any common enterprise in which the borrower has an ownership interest is $20 million. Any commitment of lending support for any one borrower in an amount over $1,000,000 will require Board approval.

The loan proceeds must be used for business purposes including, but not limited to, start-up costs, working capital, business asset acquisitions and expansions, franchise financing, equipment loans, inventory financing, and qualified commercial real estate acquisition and construction.

Learn more about the KYCSP here.

Lenders should click here if interested in participating in the KYCSP.

Kentucky Loan Participation Program (KYLPP)

The KYLPP purchases up to 20 percent of a loan originated by federally insured commercial lenders, federally insured credit unions or Community Development Financial Institutions (CDFIs). Businesses owned by members of underserved communities may receive a higher participation upon Board approval. The maximum aggregate outstanding loan amount(s) that may be enrolled for any single borrower or any common enterprise in which the borrower has an ownership interest is $20 million. Any commitment of lending support assistance for any one borrower in an amount over $1,000,000 will require approval from the Board.

The loan proceeds must be used for a business purpose, including, but not limited to start-up costs, working capital, business asset acquisitions and expansions, franchise financing, equipment loans, inventory financing, and qualified commercial real estate acquisitions and construction.

Learn more about the KYLPP here.

Lenders should click here if interested in the KYLPP.

CREDIT SUPPORT PROGRAMS

Collateral Support Program (CSP)

The CSP establishes cash collateral accounts with participating lenders  of up to 50 percent of the loan amount  to enhance the loan collateral coverage for a borrower exhibiting a shortfall in collateral. Loans can range from $5,000 to $1 million with a maximum collateral support of $250,000. This program is available to any Louisiana insured depository institution, insured depository credit union or insured depository CDFI.

Eligible business purposes include, but are not limited to, start-up costs, working capital, business procurement, franchise fees, equipment, inventory, as well as the purchase, construction, renovation or tenant improvements of an eligible place of business that is not for passive real estate investment purposes.

Learn more about Louisiana CSP and view participating lenders here.

The Louisiana CSP application can be found here.

Small Business Loan Guaranty Program (SBLGP)

The SBLGP provides loan guarantees of up to 80 percent of the loan amount with a maximum guarantee of $1.5 million.   The guarantee reduces a bank’s risk without compromising its usual lending requirements related to risk or credit policies. For loans of $100,000 or less, the business must add at least one new permanent job created or retain one job; for loans over $100,000, at two jobs must be created or retained.

The SBLGP expands access to capital for underserved communities by working with state partners to focus on underserved areas, especially those CDFI Investment Areas, to increase the loan activity and waive program fees for underserved businesses and SEBs.

Learn more about Louisiana SBLGP and view participating lenders here.

The Louisiana SBLGP application can be found here.

Micro Lending Program (MLP)

The MLP purchases participations of up to 50 percent of loans ranging from $1,000 to $100,000 and originated by a participating lender. Eligible uses including working capital or equipment/inventory acquisition for start-up or expansion projects.

Learn more about the Louisiana Micro Lending Program (MLP) and view participating lenders here.

CREDIT SUPPORT PROGRAMS

Regional Economic Development Revolving Loan & Direct Loan Program

Maine’s Revolving Loan & Direct Loan Program is a loan participation program (LPP) that will provide up to $5 million as a companion loan to fund up to 50 percent of a small business package offered by lending partners located throughout the state. Lenders include Community Development Financial Institutions (CDFIs), and economic development agencies. The loan can be used for operating capital and most business purposes.

The LPP will target small businesses, underserved businesses, and single/owner operators. Reduced interest rates will be considered for these targeted underserved communities as well as very small businesses. Although most small businesses are eligible for the program, the LPP is focused on businesses in four major sectors: Forestry and Agriculture, Blue Economy (sustainable use of ocean resources for economic growth), Tourism, and Diverse Technology.

Learn more about the Regional Economic Development Revolving Loan & Direct Loan Program and participating lenders here.

Application materials for lenders for the Regional Economic Development Revolving Loan & Direct Loan Program can be found here.

Commercial Loan Insurance Program (CLI)

Maine’s CLI Program provides loan guarantees up to 80 percent of small business loans with any single guarantee capped at $5 million. The participating lenders are located throughout the state and include commercial banks, Community Development Financial Institutions (CDFIs), and economic development agencies. Eligible uses include working capital, machinery & equipment, revolving lines of credit, and real estate transactions.

CLIO targets small businesses, underserved businesses, and single/owner operators. Guarantees provided to these targeted businesses will have no origination fee and reduced insurance premiums. The program will launch long-term economic growth focusing on businesses in four major sectors: Forestry and Agriculture, Blue Economy (sustainable use of ocean resources for economic growth), Tourism, and Diverse Technology.

Learn about the Maine Commercial Loan Insurance Program (CLI) program here.

Information for lenders for the Maine Commercial Loan Insurance Program (CLI) can be found here.

CREDIT SUPPORT PROGRAMS

Maryland Neighborhood Business Works Loan Participation Program (NBW LPP)

The NBW LPP provides two types of credit support: 1) companion loans of up to 50 percent for individual transactions to businesses with at least a 1:1 private capital match and 2) loans to Community Development Financial Institutions (CDFIs), matched by private capital, for the purpose of lending to eligible businesses. NBW LPP will target loans up to $350,000 through several CDFI lenders with SSBCI funding up to 30% and $5 million for participation in loans that may be in the $800,000 to $20 million range.

Learn more about the NBW LPP and participating CDFIs here. 

Apply for Maryland Neighborhood Business Works Loan Participation Program (NBW LPP) financing here.

Maryland Small Business Development Financing Authority (MSBDFA) Equity Participation Investment Program – Loan

The MSBDFA Equity Participation Investment Program (EPIP) SSBCI funding provides companion loans of up to 50 percent of a lender’s loan package with a participation loan cap of $2 million.  Financing can be used for working capital; purchase of inventory, equipment, or real property; construction/renovation of eligible property, and leasehold improvements.

The Meridian Management Group (MMG), a minority-owned company that is a longstanding administrator of loan programs, is responsible for the day-to-day operations of the program under the supervision of the Maryland Department of Commerce.  For this SSBCI-funded program, MMG will focus on underserved firms.

Learn more about the Maryland Small Business Development Financing Authority (MSBDFA) Equity Participation Investment Program here.

Apply for financing for the Maryland Small Business Development Financing Authority (MSBDFA) Equity Participation Investment Program here.

CREDIT SUPPORT PROGRAMS

MGCC Commercial Lending Program

The MGCC Commercial Lending Program is a companion loan program that combines MGCC funding with US Treasury State Small Business Credit Initiative funding. The program’s loans can range from $50,000 to $2 million and may include term loans, lines of credit, and commercial real estate mortgages that are owner-occupied. The loan must be utilized for business purposes only such as working capital, purchase of owner-occupied real estate.

Learn more about the MGCC Commercial Lending Program here.

MGCC Community Loan Fund Guarantee Program

The MGCC Community Loan Fund Guarantee Program provides guarantees of up to 50 percent of the principal loan amount originated by banks and nonprofit community lenders generally up to an average of $250,000. The guarantee is offered on term loans utilized for business purposes only including working capital and purchase of equipment.

The program has a focus on enhancing economic growth or revitalization in targeted communities and projects that provide financial assistance to underserved companies. It seeks to support lending to underserved communities by incentivizing participation by Community Development Finance Institutions (CDFIs) and Community Development Corporations (CDCs).

Learn more about the MGCC Community Loan Fund Guarantee Program here.

MassDevelopment Economically Distressed Area (EDA) Loan Enhancement & Equipment Program (LEEP)

MassDevelopment’s SSBCI loan program offers direct loans in partnership with private lenders for up to 50 percent for real estate projects, new or used equipment acquisitions, leasehold improvements and term working capital. Loans for real estate acquisition, construction, and renovations can be up to a maximum of $10 million while loans for term-working capital and leasehold improvements have a maximum of $2 million and equipment loans have a maximum of $3 million. The program targets small underserved or disadvantaged businesses within specific geographic areas in Massachusetts like Economically Distressed Areas (EDAs), Gateway Cities, and CDFI Investment Areas.

Learn more about the MassDevelopment Economically Distressed Area (EDA) Loan Enhancement & Equipment Program here.

MassDevelopment Loan Guarantee Program

The MassDevelopment Loan Guarantee Program provides guarantees of up to 50 percent of a loan value, up to $2 million on standard term loans, working capital, or lines of credit offered by banks and other lenders. The program’s eligible uses include real estate, equipment and leasehold improvements. The program targets underserved early stage businesses within specific geographic areas like Economically Distressed Areas (EDAs), Gateway Cities, and CDFI Investment Areas.

Learn more about the MassDevelopment Loan Guarantee Program here.

CREDIT SUPPORT PROGRAMS

Michigan Business Growth Fund Capital Access Program (MBGF-CAP)

The MBGF-CAP establishes a reserve account at each participating lender to cover losses on enrolled loans. The lender and borrower will together contribute up to 7 percent of a loan or line of credit to the reserve account which will be matched by the MBGF-CAP. Lenders may use the reserve account to cover any losses on their CAP loans. The maximum loan that can be enrolled into the program is $5 million.

Learn more about the MBGF-CAP and participating lenders here.

MBGF Loan Participation Program (MBGF-LPP)

The MBGF-LPP purchases up to 49.9 percent of a lender’s loan with a maximum participation of $5 million and the overall loan size capped at $20 million. MBGF–LPP has the option to offer a grace period on principal or interest of up to 36 months on the purchased participation loan portion. All security is held on a pari passu basis. Repayment, subsequent to any grace period, is pro rata.

For a single loan or combination of loans totaling $500,000 or less, a borrower is generally eligible regardless of industry. For a single loan or combination of loans supported by the Program totaling $500,001 or more, a borrower must operate primarily in one or more of the following industry sectors: mobility, manufacturing, professional and corporate services, medical device technology, engineering, design and development, high tech, agribusiness, tourism, logistics, and financial services. Eligible loan uses include such purposes as financing for start-up costs, working capital, equipment and inventory purchases, and construction/renovation of business premises.

Learn more about the MBGF-LPP and participating lenders here.

MBGF Loan Guarantee Program (MBGF-LGP)

The MBGF-LGP offers guarantees of up to 80 percent of eligible loans originated by a participating lender. Guarantees are provided for loans of $500,000 or less and should support new lending. Eligible business purposes include startup costs, working capital, franchise fees, and acquisition of equipment, inventory, construction, renovation or tenant improvements of an eligible place of business.

Learn more about the MBGF-LGP here.

MBGF Collateral Support Program (MBGF-CSP)

The MBGF-CSP provides cash collateral to support loans to businesses that are unable to meet a lender’s collateral requirements. The program will provide up to 49.9 percent of the collateral needed to address any shortfalls that would otherwise not allow a lender to provide financing. The cash deposit is held with the lender and may cover up to the entirety of lender loss subsequent to liquidation of the borrower pledged security.

For a single loan or combination of loans totaling $500,000 or less, a borrower is generally eligible regardless of industry.  For loans totaling $500,001 or more, a borrower must operate primarily in one or more of the following industries: mobility, manufacturing, professional and corporate services, medical device technology, engineering, design and development, high tech, agribusiness, tourism, logistics, and financial services.

Learn more about the MBGF-CSP and participating lenders here.

CREDIT SUPPORT PROGRAMS

Minnesota Loan Guarantee Program (MNLGP)

The MNLGP provides an 80 percent loan guarantee loans originated by community banks, credit unions, Community Development Financial Institutions (CDFIs) and nonprofit lenders. The maximum guarantee is $800,000. Eligible loan uses include most business purposes.

The program expands access to capital by waiving the enrollment fee for loans that are made to underserved businesses both as an incentive to make these loans and to lessen the likelihood that the fee will be passed on to the borrowers.

Learn more about the MNLGP here.

Enrollment information for lenders for the Minnesota Loan Guarantee Program can be found here.

Minnesota Small Business Loan Participation Program (SBLPP)

The SBLPP purchases up to 25 percent of a loan made by a Community Development Financial Institution (CDFI), community development corporations, or other nonprofit lenders. The participation will be up to 30 percent if the business is underserved or located in a CDFI investment area. In both cases, the minimum participation in $10,000 and the maximum participation will be $250,000.

Learn more about the Minnesota SBLPP here.

Automation Loan Participation Program (ALPP)

The ALPP provides a companion loan equal to up to 50 percent of private financing offered by a bank, credit union, CDFI, another nonprofit lender, or vendor. The companion loan may not exceed $500,000. Eligible uses include the purchases of machinery, equipment, or software to increase productivity and automation. Loan payments may be deferred up to one year and the loans may be subordinate to private financing.

The program expands access to capital by providing favorable terms for underserved borrowers and by raising program awareness by working with Enterprise Minnesota, the state’s Manufacturing Extension Partnership (MEP) Center.

Learn more about Automation Loan Participation Program (ALPP) and apply here.

Automation Loan Participation Program (ALPP) application materials can be found here.

Growth Loan Fund (GLF)

Minnesota’s Growth Loan Fund provides capital support to small businesses by providing loans that are matched with equity investments from private investors. The program is available to companies that have been certified to participate in the MN Angel Tax Credit Program, companies identified by venture and angel investment funds for investment, or companies identified by individual SEC accredited investors for investment.

The minimum loan amount will be $100,000, and the loan will be for 20 percent of the total amount of investment received in their current funding round, which shall not exceed 12 months from the date of the acceptance letter and is capped at the level outlined in the acceptance letter. Up to two loans may be issued to each eligible business, with a maximum combined exposure to any one enrolled business of $400,000. The business must obtain at least 70 percent of the projected equity raise to remain eligible for a loan.

Learn more about the Minnesota Growth Loan Fund program here.

Minnesota Growth Loan Fund application for funding can be found here and submitted to SSBCI.DEED@state.mn.us 

Minnesota Multi-Fund Venture Capital Program

Minnesota’s Multi-Fund Venture Capital Program provides equity support to small business by investing SSBCI capital in venture capital funds as a Limited Partner. The multi-fund program invests in qualified venture capital funds that will target seed and early-stage investments in Minnesota start-ups related to key state sectors, such as life sciences, climate solutions, agtech, foodtech, software, technology and advanced manufacturing. The program will make investments averaging approximately $1 million in up to 15 VC Funds as a Limited Partner (LP) on terms that are pari passu with the private investors in cash flow rights. The estimated size of the supported venture capital funds is between $5 million and $50 million.

Learn more about the Minnesota Multi-Fund Venture Capital Program on MN.gov and on the Minnesota SSBCI website.

Minnesota Multi-Fund Venture Capital Program Application

Minnesota Direct Investment Venture Capital Program

Minnesota’s Direct Investment Venture Capital Program provides equity support to small businesses by co-investing in seed-stage to early-stage funding rounds alongside private investors. The program targets investments to Minnesota-based start-ups within key industry sectors, such as life sciences, climate solutions, agtech, foodtech, software, technology and advanced manufacturing. In addition to co-investments made alongside the VC funds selected in the Multi-Fund VC Program, the program may co-invest with other Minnesota-based and out-of-state VC Funds to broaden and diversify the pool of participating investors and investees.

Learn more about the Minnesota Direct Investment Venture Capital Program on MN.gov and on the Minnesota SSBCI website.

Companies can apply for Minnesota Direct Investment Venture Capital Program here.

CREDIT SUPPORT PROGRAMS

Mississippi CDFI Small Business Loan Fund Program

The CDFI Small Business Loan Fund Program is a loan participation program that purchases up to 50 percent of a loan made by a non-depository Community Development Financial Institution (CDFI). The program provides the funds to the CDFI through a loan to the lender. The program’s maximum participation is $2.5 million on overall loan maximum of $5 million; the average participation is expected to be $700,000. The loan may be used for most business purposes and is targeted to small businesses and start-ups.

Learn more about the Mississippi CDFI Small Business Loan Fund Program here.

Mississippi Small Business Loan Guarantee Program

The Small Business Loan Guarantee Program provides up to an 80 percent loan guarantee with an expected program average of a 70 percent guarantee of the principal loan amount issued by the participating lender. The average expected support per loan is $30,000.

Eligible uses of the loan include most business purposes. The program will focus on those small businesses located in low-to-moderate income communities and underserved business enterprises.

Learn more about the Mississippi Small Business Loan Guarantee Program here.

CREDIT SUPPORT
PROGRAMS

IgniteMO Small Business Loan Participation Program

The IgniteMO Small Business LPP provides funds to purchase up to 50 percent participations of loans originated by Justine Petersen Housing and Reinvestment Corporation (JP) and funded by JP and other eligible private lenders. The minimum total loan will be $25,000 and the maximum will be $500,000 with a maximum participation of $250,000. 

The program expands access to capital for underserved communities by targeting the program exclusively on underserved communities and relying on a strong network of partnerships and referrals throughout the state. JP will pair loans with credit building, financial education, and small business training, with a focus on low-income and African American families.

Learn more about IgniteMO Small Business Loan Participation Program here.

CREDIT SUPPORT
PROGRAMS

Montana Business Loan Participation Program (LPP)

The Montana Business LPP will purchase up to 50 percent of a loan originated by a lender with a maximum participation amount of $1 million. Participations can exceed $1 million (although the overall transaction may not exceed $20 million) with prior approval by program management. Funds are provided to approved Community Development Financial Institutions (CDFIs) or local economic development organizations who operate a revolving loan fund and can partner with a primary lender to purchase a participation.

Loan proceeds may be used for most business purposes including real estate, equipment, working capital, and non-speculative new businesses. The program targets underserved communities with a focus on rural and tribal entrepreneurs.

Learn more about the Montana LPP including application forms and participating lenders here.

CREDIT SUPPORT
PROGRAMS

Nebraska Growth Loan Fund (NGLF)

The NGLF provides companion loans for up to 50 percent of a senior loan with the expectation that most loans will be at or below 25 percent participation. Each NGLF companion loan can be up to $1 5 million and will be offered through two partner Community Development Financial Institutions (CDFIs) - Nebraska Enterprise Fund and Omaha 100.

The goal of the NGLF is to leverage private lending to help finance bankable, or near bankable small businesses and manufacturers that are not getting the loans they need to expand and create jobs. Eligible uses of NGLF funding include start-up costs, working capital, acquisition of intellectual property, franchise fees, equipment, inventory, and purchase, construction or renovation of real estate.

Learn more about the NGLF.

Visit the partners and apply: Nebraska Enterprise Fund and Omaha 100.

CREDIT SUPPORT PROGRAMS

Collateral Support Program (CSP)

Nevada’s CSP generally provides up to 35 percent of a collateral shortfall but can provide up to 49.9 percent with a maximum pledge of $5.0 million. The program enhances the collateral position of borrowers by depositing cash into accounts at participating lending institutions, which will then be pledged as collateral on behalf of the borrower on a transaction-by-transaction basis.

Although the program’s goal is to reach all business owners across Nevada, the program encourages eligible small businesses that are at least 51 percent owned by individuals who certify that they belong to a group that has faced historical and/or systematic barriers to accessing credit to apply.

Learn more about Nevada's CSP. 

Lender information for Nevada's CSP.

Commercial Property Assessed Clean Energy (C-PACE)

C-PACE is a loan participation program that provides companion loans of up to 50 percent of private financing to fund energy efficiency, renewable energy, resiliency, or water efficiency capital improvements on commercial properties.  Although maximum participation is capped at $5 million, the C-PACE program anticipates an average contribution of $1.25 million and an average total loan size of $5 million. A borrower can borrow 100 percent of the cost of an energy retrofit to an owner-occupied building (or up to 51 percent for leased buildings or 61 percent for existing owner-occupied buildings). The originating borrower will not need to repay the loan if the building is sold, the new owner will continue to pay the loan balance through the property tax assessments if the C-PACE obligation is assumed by the new owner. 

Although the program’s goal is to reach all business owners across Nevada, the program incentivizes Nevada manufacturers to invest in qualifying energy and water saving equipment and technologies. The program also encourages eligible small businesses that are at least 51 percent owned by individuals who certify that they belong to a group that has faced historical and/or systematic barriers to accessing credit to apply.

Learn more about C-PACE.

Additional information on the C-PACE program and application information.

Loan Participation Program (LPP)

Nevada’s LPP purchases between 10 percent and 30 percent of a commercial loan from a participating lender may go as up to 49 percent. The maximum participation is capped at $5 million. Although most small businesses that don’t meet traditional collateral coverage and/or other conventional underwriting criteria are eligible, the program has a focus on incentivizing Nevada manufacturers to invest in automation equipment, software and workforce training for Industry 4.0. Other business uses include equipment, inventory, owner-occupied real estate, accounts receivable revolving loans.

Although the program’s goal is to reach all business owners across Nevada, the program encourages eligible small businesses that are at least 51 percent owned by individuals who certify that they belong to a group that has faced historical and/or systematic barriers to accessing credit to apply.

Learn about Nevada’s LPP. 

Additional information on Nevada’s Loan Participation Program (LPP) and application information.

Battle Born Growth Microloan Program (BBG Micro LPP)

The BBG Micro LPP purchases up to 80% of a loan offered by participating CDFI lenders that may be up to $250,000.  Eligible borrowers include all small businesses with no more than 100 full-time employees and less than $5 million in annual revenue. Most business purposes are eligible including start-up costs, working capital, franchise fees, purchases of equipment, inventory, services, or the acquisition, construction, renovation, or tenant improvements.

A dedicated Technical Assistance Program provided in partnership with the Nevada Small Business Development Center (SBDC) will be available to assist small businesses with credit counseling, financial statements and general business guidance. Although the program’s goal is to reach all eligible business owners across Nevada, the program encourages eligible small businesses that are at least 51 percent owned by individuals who certify that they belong to a group that has faced historical and/or systematic barriers to accessing credit to apply.

Learn about the BBG Micro LPP.

Additional information on the BBG Micro LPP. 

Apply for BBG Micro LPP financing. 

State Sponsored Venture Capital Program

Battle Born Venture’s mission is to help build a strong and diversified economy in Nevada by providing early-stage funding to promising startups. The program offers a variety of funding options, including pre-seed-stage financing supporting university spinouts and/or tech-based companies with active SBIR grants or contracts, seed-stage financing leveraging deal flow generated by two accelerator programs and venture capital investment through its main program platform with a eligibility pre-screen functionality.  The latter supports up to a total of $1 million in any given company, and requires at least a 1:1 match from private lead-institutional sources. To be eligible for funding from Battle Born Venture, startups must be based in Nevada and have a scalable business model with the potential for significant growth. The program focuses on Nevada’s target industries, including technology, healthcare, and renewable energy. 

Learn more about Nevada's State Sponsored Venture Capital Program.

Apply for Nevada's State Sponsored Venture Capital Program financing.

CREDIT SUPPORT PROGRAMS

Loan Participation Program – Direct Loans (LPP Direct)

The LPP Direct program provides a companion loan that can match a loan offered by a partner lender. In most cases, the LPP Direct loan will be 5 percent to 25 percent of the partner lender loan. The program’s typical loan is expected to be $250,000 to $1.25 million resulting in an average total transaction size of $1 million to $5 million.

The LPP Direct loan is subordinate debt to bridge collateral shortfalls that are limiting the expansion of manufacturers, biotechnology companies, information technology companies and other value-added high growth organizations. Most business uses are eligible including commercial real estate, equipment, and working capital. 

Learn more about the LPP – Direct program.

Lenders can apply on the Loan Participations Form.

Loan Participation Program - Term (LPP – Term)

The LPP – Term program purchases participations in a loan originated by a partner lender. Although the participation can match the partner lender loan, the typical participation is expected to be 10 percent to 25 percent. The program’s typical participation amount will be $250,000 to $1.25 million assuming a 25 percent participation rate and an average transaction size of $1 million to $5 million. The interest rate of the participation portion of the loan will be zero the first year and half the partner lender’s rate in the second year. Most business uses are eligible including commercial real estate, equipment, and working capital.

Learn more about the LPP – Term program.

Lenders can apply here.

Loan Participation Program – Aid to Local Development Organizations (LPP – ALDO)

The LPP – ALDO provides funds to non-profit Regional Development Corporations located within the state to allow the  organizations to provide  gap financing to small businesses through a companion loan. The average transaction is expected to be between $1 million and $10 million from all sources and the LPP – ALDO’s contribution to the package will be no more than 50 percent of the total transaction, with typical percentages expected to be 5 percent to 25 percent. Based on historical performance, the typical ALDO portion of the total transaction will range between $75,000 and $1 million.

Learn more about the LPP – ALDO program.

CREDIT SUPPORT PROGRAMS

New Jersey Clean Energy Loans (NJ CELs)

The NJ CELs program is a loan participation program that either originates a companion loan directly to the borrower in parallel with a private lender, or purchases a portion of the lender’s loan. The maximum participation is 50 percent of the total loan amount. NJ CELs loans range from $250,000 to $10 million (for total loan sizes of $500,000 to $20 million).

NJ CELs loans can be used to finance clean energy infrastructure or installation projects; improvements to a business’ existing facility (such as installing heat pumps or EV charging capacity); or the creation or expansion of businesses that manufacture clean energy products or provide clean energy services.

Learn more about NJ CELs.

Participating NJ CELs lenders include the institutions found here, as well as any financial institutions that have originated, maintained, and serviced more than $5 million in clean energy loans over a three-year period.

New Jersey Capital Access Fund (NJ CAF)

The Blended Capital Fund is a loan participation program that purchases up to 80 percent of an eligible loan originated by a Community Development Financial Institution (CDFI) or Minority Depository Institution (MDI) through a fund created with SSBCI and private capital. 

The fund is a new special purpose vehicle (SPV) fund that will “blend” SSBCI capital with private capital. The SPV will use this capital pool to purchase the lessor of $250,000 or 80 percent of a loan using at least 50 percent of the fund’s private capital and no more than 50 percent of SSBCI capital. 

The program will begin operating in fall 2023. At that time, Blended Capital Fund information will be available here.

Recovery Loan Loss Reserve Fund

The Recovery Loan Loss Reserve Fund provides loan guarantees up to 50 percent of a loan originated by qualified Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs). Each lender is eligible for an allocation of up to $2.5 million to provide 50% loan guarantees by leveraging their own non-federal resources using a one-to-one match. 

Loan amounts range from $10,000 to $250,000 and can be used by the business for operating expenses only including payroll, marketing, inventory, rent, mortgage/property tax payments, utilities, or any other expenses that are applicable to the daily operation of the business. The program will serve micro- to small-sized businesses that typically struggle with access to capital.

Learn more about the Recovery Loan Loss Reserve Fund.

Lenders can apply to participate in the New Jersey LGP.

CREDIT SUPPORT
PROGRAMS

Collateral Assistance Program (CAP)

The New Mexico CAP provides up to 50 percent of a loan’s collateral requirements with a cap of $250,000. The program alleviates lender shortfalls in collateral by purchasing certificates of deposit with the lender to mitigate the shortfall in collateral for lenders. Eligible uses of loan proceeds include start-up costs, working capital, franchise fees, equipment, inventory, construction, renovation, or improvements of an eligible place of business.

EDD encourages financial institutions to make loans to small businesses in underserved markets to support business and job growth in the state. Special focus is provided to (but not limited to) projects in industries related to intelligent manufacturing, sustainable & green industries, value-added agriculture, outdoor recreation, film & media located in rural areas.

Learn more about New Mexico CAP (collateral assistance) and participating lenders.

CREDIT SUPPORT PROGRAMS

New York Capital Access Program

New York’s CAP is a loan loss portfolio insurance program that provides funds to enrolled lenders to create a dedicated loan loss reserve account at each lender that is used for loan defaults. CAP matches the combined contribution made by borrower and lender which is between 3 percent to 7 percent of the loan amount.  The reserve account balance increases with each loan enrolled and can provide up to 100 percent reimbursement to a lender for any enrolled loan that defaults.

Learn more about NY CAP.

List of enrolled NY CAP lenders.

New York Capital Project Loan Fund (CPLF)

The CPLF is a loan participation program that provides direct (companion) loans for the growth of manufacturing and other eligible businesses to finance a portion of the cost of acquiring and renovating or constructing buildings (“real estate projects”) or for purchasing machinery and equipment ("M&E"). Generally, CCPLF contribution will fund no more than 40 percent of a given project’s cost, with the remaining 60 percent funded by private lenders (50 percent) and borrower capital (10 percent). The program allows for circumstances when SSBCI funds could reach up to 60 percent of total project cost for projects located in distressed areas.

Only businesses involved in manufacturing, distribution, warehousing and certain service businesses are eligible for CPLF.  Loan proceeds may be used to acquire or renovate buildings, purchase land or construct new buildings, or pay for soft costs associated with a real estate transaction.

Learn more about NY CPLF.

New York Small Business Revolving Loan Fund II (SBRLF II)

SBRLF II is a loan participation program that purchases a portion of a short-term loan originated by a lender. The purchased portion can be up to 50 percent of the senior loan or $125,000, whichever is less. Loans may be offered as microloans (between $500 and $25,000) or regular loans (from $25,000 to $20 million). The SBRLF II loans are provided via Community Based Lending Organizations (CBLOs) which received funds from ESD. Eligible uses include working capital, acquisition and/or improvement of real property (with conditions), acquisition of machinery and equipment, and certain refinancing scenarios.

Learn more about NY SBRLF II.

New York Forward Loan Fund II (NYFLF II)

The NYFLFII is a loan participation program that purchases up to 80 percent of a loan originated by Community Development Financial Institutions. The program is designed to support CDFIs that will make working capital loans to small businesses experiencing economic distress. The funds used to purchase the participations will be housed in a special-purpose vehicle (SPV) that will ultimately securitize the loans with the originating lender retaining 20 percent of each loan. For the 80 percent loan balance, NYFLFII funds will contribute approximately 32 percent (40 percent of the 80 percent purchased), and private investors will fund approximately 48 percent (60 percent of the 80 percent purchased).

Loan proceeds may be used for working capital including payroll, operating and emergency maintenance, property taxes, utilities, rent and supplies.

Contact Calvert Impact Capital for additional information.

New York State Bonding Assistance Program (NYSBAP)

NYSBAP provides the guarantee necessary to help contractors secure a surety bond line, bid bond or a performance and payment bond on publicly funded or government-led project. Contractors may be eligible to receive a guarantee of up to 30 percent, or $600,000, whichever is less, to secure a surety bond line, bid bond or a performance and payment bond on publicly funded or government-led projects.

NYSBAP will work with a bond line of $2 million or less and applicants should have previous experience in completing similar work compared with the project being pursued. Under the program, NYSBAP will issue guarantees for bond lines and bid bonds at zero cost, but the small businesses are responsible for the surety company’s typical bond premium charge.

Learn more about the NYSBAP.

New York State Contractor Financing Program

The New York Contractor Financing Program is a loan guarantee program that funds loan loss reserves at participating lenders to support contractors or subcontractors execute their state or municipal contracts and overcome payment delays. Loans are provided by participating CDFIs, MDIs, community banks, credit unions, and other community lending institutions typically offering lending amounts of up to $500,000. The loans are lines of credit for working capital, improvement machinery and equipment, construction costs, advances against inventory, or other related costs required to execute eligible government contracts. The guarantee is 50 percent of the lender loss if no payment contract is in place or 80 percent if an assignment payment is set up.

Learn more about the New York State Contractor Financing Program.

CREDIT SUPPORT PROGRAMS

NC Capital Access Program (NC CAP)

The NC CAP establishes a reserve account at participating lender to cover losses on enrolled loans. The account is funded by the lender and borrower together contributing 7 percent of a loan or line of credit to the reserve fund which will be matched with NC CAP funds. Lenders may use the reserve account to cover any losses on their CAP loans. Eligible uses include most business purposes including owner-occupied real estate, construction, equipment, and working capital.

Learn more about NC CAP.

NC Loan Participation Program (NC LPP)

The NC LPP purchases up to 20 percent of a loan originated by a partner bank, credit union, or certified CDFI. The program’s minimum participation is $30,000 and the maximum is $800,000. Eligible uses include start-up capital, working capital, equipment purchases and construction.

The program’s increased participation level addresses the social and economic barriers faced by many underserved small business owners.

Learn more about the NC LPP.

Lenders can find a NC LPP loan enrollment form here.

CREDIT SUPPORT PROGRAMS

Angel Match Program

The Angel Match Program provides equity capital support to small businesses by directly co-investing alongside private investors by matching the private investment in small businesses. The minimum investment match for small businesses is $10,000 and the maximum is $250,000.  The program was created to expand access to capital for underserved communities by focusing outreach, technical assistance, and capital investment in rural communities, tribal communities, and communities undergoing economic transitions such as coal communities.

Learn more about the North Dakota Angel Match Program.

Small businesses can apply for North Dakota Angel Match Program financing support here.

Direct Investment Program

The Direct Investment Program, also known as the Wonder Fund North Dakota, provides equity capital support to small businesses by co-investing alongside private investors. SSBCI investment support will range from $50,000 to $5 million with the average SSBCI support estimated to be $250,000. The program will support early-stage companies headquartered in North Dakota through an industry agnostic investment strategy.

Learn more about the North Dakota Direct Investment Program.

Small businesses can apply for financing support for the North Dakota Direct Investment Program here.

CREDIT SUPPORT PROGRAMS

CDFI Lending Program (CDFI/LPP)

The CDFI/LPP provides companion loans of up to 30 percent of a CDFI financing package with a cap of $1 million. The maximum financing package that the program can participate in is $20 million. Eligible business uses include working capital, inventory, purchases of supplies and equipment, property acquisition, and construction. This program allows CDFIs to make loans in communities where the CDFIs have intimate knowledge of their small and minority business ecosystem and the appropriate technical assistance.

Learn more about the Ohio CDFI/LPP.

Participating CDFIs in the CDFI/LPP:

• Economic and Community Development Institute
• Valley Partners
• Western Reserve Community Fund Inc.

Collateral Enhancement Program (CEP)

CEP is a collateral support program that provides collateral assistance to meet a lender’s collateral requirements for a small business loan. The program provides up to 30 percent of the loan amount for real estate, equipment, and working capital loans up to the maximum cash collateral deposit limit of $1 million with a $5 million loan cap. If the business is a food service business or food service franchise, the CEP deposit is up to 15 percent of the loan amount. If the business is a minority-owned or women-owned business certified with Ohio, the CEP deposit can be up to 50 percent of the loan amount. CEP deposit cannot exceed the collateral value shortfall amount.

Loan proceeds can be used for most business purposes including owner-occupied real estate purchases, expansions, or renovations, equipment or inventory purchases, leasehold improvements, and working capital. 

Learn more about the Ohio CEP.

Lenders can find an Ohio CEP enrollment application here.

CREDIT SUPPORT
PROGRAMS

Oklahoma Business Lending Partnerships (OBLP)

The OBLP provides subordinate companion loans of up to 50 percent of a senior loan. The companion loan generally ranges from $50,000 to $400,000. The companion loans are originated by a Community Development Financial Institution (CDFI) selected in June 2023 through a Request for Proposal process. The selected CDFI provide loans to accompany financing provided by such senior lenders as banks, the selected CDFI using its private capital, credit unions or other CDFIs.

Learn more about the OBLP.

CREDIT SUPPORT PROGRAMS

Business Oregon Relender Program (BOR)

The Oregon BOR is a loan participation program that purchases participations of the lesser of 50 percent of a loan or up to $500,000 for a specific project. The loans are made by qualified intermediary lenders, consisting of Community Development Financial Institutions (CDFIs), the state’s Economic Development Districts, and non-profit lenders. Eligible use of loan proceeds includes permanent working capital, tenant improvements, fixtures, equipment, and commercial real estate acquisition. The program will be deploying capital primarily to underserved businesses.

Learn more about the BOR program.

Oregon Credit Enhancement Fund (CEF)

The Oregon CEF provides loan guarantees of the lesser of 80 percent or $1.6 million for operating lines of credit; or the lesser of 80 percent or $6 million for term loans. Eligible lenders are limited to regulated, deposit taking financial institutions (banks and credit unions). Eligible uses for term loans include working capital, equipment, real estate acquisition, construction loans. CEF financing is very broad and inclusive with eligible business sectors including retail, service, agriculture, manufacturing, processing, and distribution.

Learn more about the Oregon CEF program.

Oregon Royalty Fund

The Oregon Royalty Fund provides equity capital support by using debt instruments to catalyze equity investments in Oregon-based small businesses. The program is offered as an alternate financing solution for business financing projects that are not yet bankable but are more like angel or venture capital deals. The program requires corporate guarantees, and the loans are typically secured by a blanket filing on business assets; however, like the companion equity capital investments that provide the private capital match, personal guarantees are not required but may lower the overall cost of the capital being borrowed.

There are two equity-like investment strategies offered through the Oregon Royalty Fund, and the loan size for both products is between $50,000 and $1 million in capital support:

1. Oregon Royalty Loans are three-to-five-year term loans. Repayment is based on a monthly royalty payment as a percentage of sales. Oregon Royalty Loans will require no less than a 1:1 match of private equity be raised as a condition of funding.
2. Oregon Angel Loans are fixed-rate, three-to-five-year term loans with monthly interest-only payments. At maturity, a balloon payment is due for all outstanding principal, interest and an exit fee. Angel loans require between 4-10X of private equity to be raised as a condition of funding.

Learn more about the Oregon Royalty Fund program.

Companies can apply for financing for the Oregon Royalty Fundhere.

Business Oregon Venture Direct Program

The Business Oregon Venture Direct Program provides equity capital support to small businesses by directly investing alongside private investors and matching a lead investor’s structure and terms. An investment advisor will be selected to work with Business Oregon to identify and evaluate small business investment opportunities.

Learn more about the Business Oregon Venture Direct Program.

Business Oregon Venture Fund Program

The Business Oregon Venture Fund Program provides equity capital support to small businesses by investing as a Limited Partner in qualified angel and venture capital funds with experience investing in Oregon. The program focuses on small, early-stage funds (estimated size between $2M and $10M in Assets Under Management) that can lead investment rounds to help anchor innovative companies in Oregon.

Learn more about the Business Oregon Venture Fund Program. 

Interested fund managers can apply by downloading a Business Oregon Venture Fund Program application form and contacting Business Oregon at SSBCI.Info@biz.oregon.gov

CREDIT SUPPORT
PROGRAMS

Revolving Loan Fund Program (RLF)

The RLF will provide companion loans or purchase participations of no more than 50 percent of total financing to small business borrowers. The remaining financing will be provided by private lenders that may include CDFIs, CEDOs, and banks. The loans will be provided by almost 30 Certified Economic Development Organizations (CEDOs) and Community Development Financing Institutions (CDFIs). Eligible uses include most business purposes, but each lender will determine a loan’s eligibility. The program expands access to capital for underserved communities through the CDFIs and CEDOs with a strong network for outreach and identifying small businesses in underserved areas.

Learn more about the Pennsylvania RLF.

To apply, find a list of participating Pennsylvania RLF lenders here.

CREDIT SUPPORT PROGRAMS

Capital Access Program (CAP)

CAP provide portfolio insurance for lenders to mitigate risk for business loans. The program creates a reserve account at the lender which funded by a combined contribution from the lender/borrower of between 2 percent and 7 percent of the loan principal, and a CAP program contribution matching the lender/borrower contribution. Between 4 percent and 14 percent of each loan’s value will be placed in the reserve account. The reserves are used to fund defaults on any enrolled loan.

RICC has chosen Rhode Island Capital Corporation, a wholly owned subsidiary of BDC Capital, to deploy the CAP.

Learn more about Rhode Island CAP.

Lenders can enroll in CAP.

Loan Participation Program (LPP)

The Rhode Island LPP includes purchase a portion of a loan originated by an enrolled lender. The program has two levels of participation: (1) a standard level of 30 percent of a transaction and (2) an enhanced level of 50 percent of the transaction for businesses that qualify as SEDI-owned and that do not have a current banking relationship or require alternative credit standards to be used in underwriting the loan.  The program’s maximum loan participation is $5 million, and the minimum is $50,000 with the average expected to be between $500,000 - $1.5 million. Eligible business uses include start-up costs, working capital, business procurement and employee-ownership conversions, franchise fees, equipment, inventory, and the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment purposes.

The Rhode Island Commerce Corporation has engaged four partners to deploy the LPP: Southeastern Economic Development Corporation (SEED), Mill Cities Community Investments (MCCI), Business Development Corporation of Rhode Island (BDCRI), and BDC Capital - the same private economic development organization deploying CAP.

Learn more about Rhode Island LPP.

Participating lenders in the LPP:

South Eastern Economic Development Corporation (SEED)

Mill Cities Community Investments (MCCI)

Business Development Corporation of Rhode Island (BDCRI)

BDC Capital

CREDIT SUPPORT
PROGRAMS

South Carolina Loan Participation Program (SC-LPP)

The SC-LPP purchases up to 49 percent of a loan originated by a partner lender with the expectation that most loans will have a participation of between 10 percent and 25 percent. The minimum participation amount is $50,000 and the maximum amount is $1 million. The final participation in an individual transaction will be determined by the amount needed for the lender to approve the loan. Eligible uses include the purchase of owner-occupied real estate, equipment, construction and working capital.

Learn more about the SC-LPP including participating lenders.

SC-LPP brochure for bankers.

SC-LPP brochure for borrowers.

CREDIT SUPPORT
PROGRAMS

South Dakota Works (SD Works)

SD Works is a loan participation program that matches loan funds provided by a private lender through a companion loan. The SD Works loan can represent up to a 1:1 match or a 50 percent overall participation. The program aims for a 20 percent participation with an average companion loan of $250,000. SD Works has no minimum loan level, but no companion loan may exceed $5 million. Loan proceeds may be used for most business purposes including building construction, equipment purchases, real estate financing, and working capital. 

Learn more about SD Works.

CREDIT SUPPORT
PROGRAMS

LendTN

LendTN is a loan participation program that can either 1) purchase participations of a loan originated by a participating bank, Community Development Financial Institution (CDFI), or credit union, or 2) originate a companion loan to a loan offered by a participating CDFI. The program targets loans with an average principal amount of $5 million or less and participations/companion loans cannot exceed 50 percent of the senior loan.

Funds may be used for most industries and uses including start-up costs, working capital, business procurement, franchise fees, equipment, inventory, as well as the purchase, construction renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment.

Learn more about LendTN.

CREDIT SUPPORT PROGRAMS

Texas Small Business Credit Initiative Capital Access Program (TSBCI CAP)

The TSBCI CAP provides portfolio insurance for small business loans by providing a reserve account at each participating lender to cover losses on enrolled loans. The lender and borrower will together contribute up to 7 percent of a loan to the reserve fund, which will be matched dollar-for-dollar using TSBCI CAP funds. Lenders may use the reserve account to cover losses on their enrolled CAP loans. The program will enroll loans as small as $5,000 and as large as $5 million.

Learn more about the TSBCI CAP. 

Texas Small Business Credit Initiative Loan Guarantee Program (TSBCI LGP)

The TSBCI LGP may provide up to an 80 percent guarantee, capped at $4 million, on loans offered by approved lenders. The average guarantee is expected to be 50 percent of the initial loan amount. The program will guarantee loans as small as $5,000 and as large as $20 million.

Learn more about the Texas LGP.

Eligible loan uses for both programs include most business purposes, including start-up costs, working capital, business procurement, franchise fees, equipment, inventory, or the purchase, construction, renovation, or tenant improvements of an eligible place of business. 

CREDIT SUPPORT PROGRAMS

Loan Participation Program (LPP)

The USVI LPP purchases up to a 30 percent participation in a loan originated by participating lender. The program also requires lenders to pass along to borrowers a 0.50 percent interest rate reduction during the first two years of the loan. The LPP support will be available for loans ranging from $50,000 up to an average of $5 million, not to exceed a principal amount of $20 million. A single borrower may not receive more than $500,000 in support from this program.

Learn more about the USVI LPP.

Loan Guarantee Program (LGP)

The USVI LGP typically provides a 50 percent guarantee for loans offered through participating lenders. However, the guarantee may be up to 80 percent for particularly impactful projects. Guarantees are available for loans not to exceed principal amounts of $20 million. Eligible uses of the loan proceeds include start-up costs, working capital, purchases of inventory or equipment, real estate acquisition, construction, and franchise fees.

Learn more about the LGP.

Payment, Surety and Performance Bond Program (PSP Bond Program)

The USVI PSB Bond Program provides half of the customary 10 percent security for surety or performance bonds needed by small contractors undertaking both public and private construction projects. The level of participation may be higher under special circumstances but will not exceed 80 percent of the 10 percent collateral security; the contractor will provide the balance of the collateral security. The performance bonds supported by the program will typically range from $100,000 to $5 million. 

Learn more about the USVI PSP Bond Program.

Collateral Support Program (CSP)

The USVI CSP provides collateral support for transactions where the borrower has a shortfall to meet a lender’s collateral requirements. The program can support up to 50 percent of the required collateral to small and underserved businesses, not to exceed a maximum amount of $500,000 for any one loan or project. Eligible uses of the loan proceeds include start-up costs, working capital, purchases of inventory or equipment, real estate acquisition, construction, and franchise fees.

Learn more about the USVI CSP.

CREDIT SUPPORT PROGRAMS

SSBCI Economic Development Loan Fund Program

This Loan participation program offers direct loans alongside companion small business loans originated by lenders. Lenders may include community banks, Community Development Financial Institutions (CDFIs), and credit unions. Loans from VSBFA will not exceed 40% of the total project or a maximum $1 million. They will also offer a fixed rate slightly below market. 

Learn more about the Virginia SSBCI Economic Development Loan Fund program.

SSBCI Loans to CDFI Program 

Virginia lends funds to certified CDFIs for small business lending. Loans are generally $500,000 to $5 million to qualifying CDFIs that are then responsible for originating, underwriting, approving, documenting, and servicing originated loans. The program’s participation in each CDFI loan transaction will not exceed 50 percent of the loan principal. CDFIs will be selected to participate in the program based upon history of service underserved businesses and very small businesses (VSBs). An estimated 35 percent of transactions will go to underserved businesses located in CDFI Investment Areas.

Learn more about the Virginia SSBCI Loans to CDFI program.

SSBCI Collateral Support Program

Virginia will offer collateral support for term loans for a maximum five years and commercial lines of credit of one year. This is a recast and rebrand of the original. The cash collateral maximum support will be 40 percent of the total loan amount or $1 million. Following closing, the cash deposit is advanced to an interest-bearing account at the participating lender.

Learn more about the Virginia SSBCI Collateral Support program. 

CREDIT SUPPORT PROGRAMS

Micro & Small Business Loan Fund 

The Micro & Small Business Loan Fund is a loan participation program that purchases a portion of a loan originated by a participating Community Development Financial Institutions (CDFIs). The participation is the lesser of $250,000 or an amount equal to up to 100 percent of average revenues for any three to six-month period; originating lenders may opt to offer a lower portion.

Eligible uses of the loan proceeds include start-up costs, working capital, franchise fees, acquisition of equipment, inventory, or services used in the production, manufacturing, or delivery of a business’s goods or services, or in the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment purposes. The program will participate in loans originated by CDFIs lenders that target underserved businesses and cover geographies that have been historically underbanked.

Learn more about the Micro & Small Business Loan Fund program.

Owner-Occupied Commercial Real Estate Loan Program (CRE)

The CRE program is a loan participation program that will have two separate loans from HBCDE, the lender; a subsidized “SSBCI Loan” and a conventional “Companion Loan.” The CRE program will leverage SSBCI funds to provide loans through a subsidized program to allow businesses to participate in the economic recovery more equitably.

Learn more about Washington CRE program.

Revenue Based Loan Program (RBL)

The RBL program is a loan participation program that functions more like equity than convention debt. RBL investments can create a “bridge to growth” for a variety of types of firms that need payment flexibility and higher risk tolerance, making them an excellent tool for underserved businesses. The program’s micro loans range from $10,000 to $50,000, while growth loans range from $50,000 to $1 million. Loan proceeds are generally for working capital needed to seize a growth opportunity, however Sharia-compliant loans may be for other business uses. 

Learn more about the Washington RBL program.

Washington Small Business Collateral Support Program (CSP)

Washington’s CSP will be dedicated to short-term construction loans, which will serve as bridge loans and be taken out by an SBA 504 loan once construction is complete. The CSP offers a maximum collateral support of 20 percent of the loan amount for loans with terms less than 6 months and 15 percent of the loan amount for loans with terms more than 6 months. The collateral support amount will not exceed $500,000 per borrower.  

Eligible uses include construction and the purchase of long-term machinery and equipment.

Learn more about the Washington CSP.

CREDIT SUPPORT PROGRAMS

Subordinated Debt Fund

The West Virginia Capital Access Program (WVCAP) Subordinated Debt Fund provides up to 50 percent of the borrower’s capital requirement with a maximum loan of $2,000,000 resulting in a minimum of a $2 million financing package. The Fund will provide companion loans to encourage senior lenders to provide debt financing to small businesses. Eligible uses include equipment purchases, facility expansion, and working capital.

The Fund will reach underserved small businesses throughout the state by relying on loan originators including CDCs, regional and local re-development agencies, and CDFIs. The program is focused on small businesses in low- and moderate-income communities and other underserved communities.

Learn about the Subordinated Debt Fund program and partners. 

Apply for Subordinated Debt Fund financing.

Collateral Support Fund

The West Virginia Capital Access Program (WVCAP) Collateral Support Fund provides collateral support for working capital loans. The program will provide up to 20 percent of the loan amount with a maximum collateral support amount of $500,000 on a $2.5 million loan. The collateral support will be provided through a certificate of deposit placed at the financial institution and all interest accruing on the account paid to the originator. 

The Fund will reach underserved small businesses throughout the state by relying on loan originators including CDCs, regional and local re-development agencies, and CDFIs. The program is focused on small businesses in low- and moderate-income communities other underserved communities.

Learn about the West Virginia Collateral Support Fund program and partners.

Apply for West Virginia Collateral Support Fund financing.

CREDIT SUPPORT PROGRAMS

Capital Access Fund (CAP)

Wisconsin’s CAP is a loan loss reserve program that establishes a reserve account at each participating lender to cover loan losses. The combined contributions by the lender and borrower ranges from 1.5 percent to 3.5 percent of each loan’s principal, depending on the risk associated with individual loans. The CAP funds match this combined contribution resulting in an overall contribution ranging from 6 percent to 14 percent of the loan principal. The lender covers more of the combined contribution if the borrower is from an underserved community or located in a rural area. The program targets short term loans and lines of credit with loan sizes from $1,000 to $250,000.

Learn more about Wisconsin’s CAP here.

Subordinate Loan Participation Program (Subordinate LPP)

Wisconsin’s Subordinate LPP will originate a companion loan of up to 10 percent of another loan issued by partner lenders including Community Development Financial Institutions (CDFIs), community banks and other financial institutions. The program’s loan would have the same terms as the primary loan and would be negotiated by the lender with the borrower. 

Learn more about Wisconsin’s Subordinate LPP here.

Capital Catalyst Fund (CCF LPP)

Wisconsin’s CCF LPP is a loan participation program that provides matching capital to seed and revolving loan funds managed by local communities, nonprofits, and other eligible entities. The loan funds are designed to provide capital to startups and emerging growth companies. The funding levels will generally range from $5,000 for micro businesses to $500,000 or more for larger businesses or venture debt funding. The program provides at most a 1:1 contribution to the underlying fund/organization so funds will provide a maximum of 50 precent initial funding to participating eligible small businesses. The goal of the program is to incentivize capital formation and investment in startups and emerging growth companies.

Learn more about the Wisconsin’s CCF LPP here.

Collateral Support Program (CSP)

Wisconsin’s CSP provides collateral support of up to 20 percent of a loan’s principal to offset a collateral shortfall by a borrower. CSP funds will be deposited into a segregated account with the lender and be available to offset loan losses. The program will target loans to small and underserved businesses originated by Community Development Financial Institutions (CDFIs) and community banks. 

Learn more about Wisconsin’s CSP here.