ENABLING LEGISLATION
On March 11, 2021, President Biden signed The American Rescue Plan Act, which provided $10 billion to fund the State Small Business Credit Initiative (SSBCI). SSBCI will fund state, territory, and Tribal government small business credit support and investment programs.
American Rescue Plan (ARPA) Act – Title III, Subtitle C—Small Business (SSBCI)
Small Business Jobs Act of 2010 – Title III—State Small Business Credit Initiative
PROGRAM DETAILS
Treasury will post guidance, forms, and other resources with information about the 2021 SSBCI program below as they become available.
SSBCI Guidebook: Communications and Media Relations (6/3/2024)
Treasury releases a new Economic Recovery Learning Agenda that includes research priorities for SSBCI
Treasury Department Releases Notice of Funding Opportunity (NOFO) for the $75 million SSBCI Investing in America Small Business Opportunity Program (10/25/2023)
TA Grant Program Application Deadline Extended for Tribal Governments (7/14/2023)
Tribal Government Capital Program Application Submissions (11/29/2022)
Request for Information: Treasury posted a request for information (RFI) in the Federal Register to gather input from the public about SSBCI’s Technical Assistance programs. Responses are due November 3, 2022. (note that the comment deadline has been extended). After reviewing the RFI, commenters can post their comments on Regulations.gov.
Capital Program Application Deadline Extended for Tribal Governments (Updated 8/26/2022)
Treasury Launches the 2021 State Small Business Credit Initiative (SSBCI) Technical Assistance Grant Application Portal on 8/1/2022
Technical Assistance Deadline Extension for States, the District of Columbia, and Territories (Updated 5/25/2022)
Application Deadlines Extended for Tribal Governments (Updated 4/21/2022)
Demographics-Related Reporting Requirements: Interim Final Rule (IFR)
Notice on Technical Assistance Deadline Extension for States, the District of Columbia, and Territories
Notice on Application Deadlines Extended for Tribal Governments
Tribal government Notice of Intent (NOI) Submissions (Updated 1/31/2022)
State Small Business Credit Initiative (SSBCI) Capital Program Frequently Asked Questions – December 2021
Notice on Application Initiation Deadline Extension for Tribal Governments
Treasury Launches the 2021 State Small Business Credit Initiative (SSBCI) Application Portal on 11/22/2021
2021 State Small Business Credit Initiative (SSBCI) Application Material
U.S. Department of the Treasury Issues State Small Business Credit Initiative Program Implementation Guidance – Press Release 11/10/2021
State Small Business Credit Initiative (SSBCI) Capital Program Policy Guidelines – November 2021
State Small Business Credit Initiative (SSBCI) Program Fact Sheet - November 2021
Notice of Intent Deadline Extended for Tribal Governments & Tribal Listening Session
Notice Regarding Applications for the State Small Business Credit Initiative (SSBCI)
Preliminary Allocation to Tribal Governments – Methodology Summary (Updated 11/10/2021)
Preliminary Allocations for States Territories Washington DC and Tribal Governments (in Aggregate) (Updated 11/10/2021)
Tribal Government Fact Sheet (Updated 8/18/2021)
SSBCI Tribal Consultation Summary held on May, 27 2021
Request for Information: Treasury posted a request for information in the Federal Register to gather input from the public about SSBCI implementation. Responses are due June 4, 2021.
PRESS RELEASES
Treasury Department Announces New Funding to Support Small Businesses in Six States and Three U.S. Territories as Part of the Biden-Harris Administration’s Investing in America Agenda (3/15/2024)
Virtual Remarks by Secretary of the Treasury Janet L. Yellen at the National Center for American Indian Enterprise Development Reservation Economic Summit (3/13/2024)
Vice President Harris, Treasury Department Announce New Funding for Historically Underserved Entrepreneurs in North Carolina as part of Administration’s Strategy to Invest in American Small Businesses (3/1/2024)
Treasury Department Releases First Quarterly Report on Deployment of SSBCI Capital to Small Businesses (12/21/2023)
READOUT: At White House Tribal Nations Summit, Deputy Secretary of the Treasury Wally Adeyemo Announces New Small Business Funding for Tribal Communities (12/7/2023)
Treasury Department Announces New Funding to Support Small Businesses in 20 States as Part of the Biden-Harris Administration’s Investing in America Agenda (11/21/2023)
Treasury Department Releases Report Card on How President Biden’s Investing in America Agenda is Supporting Record Small Business Growth (10/23/2023)
Vice President Harris, Treasury Department Announce Over $175 Million to Support Small Businesses as Part of the Biden-Harris Administration’s Investing in America Agenda (8/4/2023)
Treasury Department Announces Approval of Up to $86 Million to Support Small Business Success in Mississippi as Part of President Biden’s Investing in America Agenda (6/28/2023)
Treasury Department Announces First State Small Business Credit Initiative Awards to Tribal Governments for Small Businesses, Part of Biden Administration’s Investing in America Agenda (6/26/2023)
Treasury Announces Approval of Up to $353.4 Million to Support Small Business Success Across Four States | U.S. Department of the Treasury (2/27/2023)
Treasury Announces Approval of Up to $339 Million to Support Small Business Success Across Three States and Two U.S. Territories | U.S. Department of the Treasury (2/23/2023)
Treasury Department Announces Puerto Rico to Receive up to $109 Million to Promote Small Business Growth and Entrepreneurship through President Biden’s American Rescue (2/9/2023)
Treasury Announces Seven Additional States to Receive up to $1.5 Billion from U.S. Treasury Department to Promote Small Business Growth and Entrepreneurship through the American Rescue Plan (12/6/2022)
Treasury Announces Eleven Additional States to Receive up to $1 Billion from U.S. Treasury Department to Promote Small Business Growth and Entrepreneurship through the American Rescue Plan (10/11/2022)
California to Receive up to $1.1 Billion from U.S. Treasury Department to Promote Small Business Growth and Entrepreneurship through the American Rescue Plan (9/21/2022)
Treasury Approves Four Additional State Plans to Support Underserved Entrepreneurs and Small Business Growth Through the State Small Business Credit Initiative (8/19/2022)
Treasury Announces North Carolina Approved to Receive Up to $201.9 Million to Promote Small Business Growth and Entrepreneurship through the American Rescue Plan (7/29/2022)
Treasury Approves Nine Additional State Plans to Support Underserved Entrepreneurs and Small Business Growth Through the State Small Business Credit Initiative (7/18/2022)
Treasury Announces First State Small Business Credit Initiative Awards to Support Underserved Entrepreneurs and Small Business Growth in Key Industries (5/19/2022)
Treasury Announces Plans to Deploy $300 Million in Technical Assistance to Underserved Entrepreneurs and Very Small Businesses through the State Small Business Credit Initiative (4/28/2022)
Treasury Launches Historic Equity Measurements for American Rescue Plan Small Business Investments Program - Press Release 3/3/2022
SSBCI TIMELINE
November 6, 2023 @ 1:30 PM EDT - Treasury has scheduled a pre-application webinar to discuss the recently released SSBCI Investing in America Small Business Opportunity Program (SBOP) NOFO. Registration for the webinar is available here.
April 9, 2021 – Treasury published allocation amounts available to each state, territory, and Washington, DC.
May 10, 2021 – Notice of Intent to Apply (NOI) due for states, territories, and Washington, DC. NOI forms have been emailed to eligible applicants. Contact Treasury with questions.
May 13, 2021 – Treasury held a National SSBCI Information session for Tribes on Thursday, May 13, 2021 from 2:00 p.m. to 3:00 p.m. ET. Register for the National SSBCI Information session for Tribes.
May 27, 2021 – Treasury held a Tribal Consultation on SSBCI for Tribal Governments on Thursday, May 27, 2021 from 2:00 p.m. to 5:00 p.m. Read the SSBCI Tribal Consultation Summary here.
June 4, 2021 - Responses due for the request for information.
June 30, 2021 – Treasury provided preliminary allocation amounts to each Tribal government.
December 11, 2021 – Notice of Intent to Apply due for Tribal governments (Initiate application and complete Notice of Intent form for Tribal governments).
December 11, 2021 – Applications for SSBCI capital programs from states, territories, and Washington, DC must be initiated (application materials).
February 11, 2022 - Applications for SSBCI capital programs from states, territories, and Washington, DC must be completed (application materials).
March 11, 2022 – Applications due for municipalities located in states that do not apply for SSBCI (application materials).
October 14, 2022 - Applications for SSBCI technical assistance funding from States, the District of Columbia, and Territories are due (application materials).
October 31, 2022 - Applications for SSBCI capital programs from Tribal governments must be initiated and completed (application materials).
November 3, 2022 (note that the comment deadline has been extended) - Responses due for the request for information (RFI). After reviewing the RFI, commenters can post their comments on Regulations.gov.
