The American Rescue Plan Act reauthorized and expanded the State Small Business Credit Initiative (SSBCI) to provide $10 billion to support small businesses and empower them to access the capital needed to invest in job-creating opportunities as the country emerges from the pandemic. SSBCI provides funds to states, the District of Columbia, territories, and Tribal governments to promote American entrepreneurship, support small business ownership, and democratize access to capital across the country, including in underserved communities.
SSBCI was originally established in 2010 and was highly successful in increasing access to capital for traditionally underserved small businesses and entrepreneurs. The new SSBCI builds on this successful model and is expected to catalyze up to $10 of private investment for every $1 of SSBCI capital funding, amplifying the effects of this funding and providing small business owners with the resources they need to sustainably grow and thrive.
Through SSBCI, jurisdictions provide funding to small businesses through equity/venture capital programs, loan participation programs, loan guarantee programs, collateral support programs, and capital access programs tailored to local market conditions. In addition, Treasury, recipient jurisdictions, and the Minority Business Development Agency at the U.S. Department of Commerce will support technical assistance to improve access to capital, including for traditionally underserved entrepreneurs.
Recent SSBCI News and Announcements from the last 60 days:
PROGRAM Rules and materials
FORMULA TECHNICAL ASSISTANCE GRANTS
IIA SMALL BUSINESS OPPORTUNITY PROGRAM
2021 SSBCI ARCHIVES
Documents, timelines, and other resources related to the 2021 allocation of the SSBCI program can be accessed here 2021 Archive.
2011-2017 SSBCI ARCHIVES
Documents and resources from the 2010 SSBCI Allocation which operated from 2011-2017 can be found at 2010-2017 Archive. Note that application materials, program requirements, and guidance will be revised for the 2021 round of SSBCI.
Any questions regarding the SSBCI program should be submitted to email@example.com.
Please note that Treasury has assigned individual Outreach Managers to each State, Territory, and Tribal Government to serve as an individualized point of contact for the SSBCI Program. If you are a Participating Jurisdiction and do not know who your outreach manager is, please contact firstname.lastname@example.org.