State Small Business Credit Initiative (SSBCI)

The State Small Business Credit Initiative (SSBCI) is a nearly $10 billion program to support small businesses and entrepreneurship in communities across the United States by providing capital and technical assistance to promote small business stability, growth, and success. SSBCI represents a transformational investment in American small businesses and is expected to catalyze up to $10 of private investment for every $1 of SSBCI Capital Program funding to increase access to capital to small businesses and entrepreneurs, including those in underserved communities.

SSBCI, ECIP, and CDFI Fund
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Reauthorized and expanded by President Biden’s American Rescue Plan Act (ARPA), the SSBCI Capital Program provides funds to states, the District of Columbia, territories, and Tribal governments for those jurisdictions to create tailored programs that offer funding to small businesses and entrepreneurs through equity/venture capital, loan participation, loan guarantee, collateral support, and  capital access programs.

In addition to capital access, SSBCI funding unlocks access to critical technical assistance through SSBCI’s formula Technical Assistance Grant Program and the SSBCI Investing in America Small Business Opportunity Program (SBOP). The Minority Business Development Agency at the U.S. Department of Commerce, through its Capital Readiness Program, also supports technical assistance to improve access to capital, including in traditionally underserved communities, with SSBCI funding.

SSBCI bolsters small business support networks – helping participating jurisdictions to invest in the future of the American economy, both on Main Street and in innovation hubs across the nation.

Summary of Participating Jurisdictions 2022 and 2023 Annual Reports (July 2024)

SSBCI Program Fact Sheet (June 2023)

List of SSBCI Capital Programs and Contacts

Capital Program Summaries

Technical Assistance Program Summaries

Investing in America Small Business Opportunity Program (SBOP) Awardee Fact Sheet


ssbci success spotlights

  • Chopper Landscaping in Utah

    Chopper Landscaping in Utah

    Chopper Landscaping is a South Jordan, Utah-based landscaping company. In 2024, Chopper aimed to move from a seasonal business to year-round operations. But the company did not have enough of a credit history, and that made it difficult to qualify for the commercial loan necessary for the transition.  

     

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  • Salmon River Outpost and Scotts Valley Energy Company, Supported by the Consortium Led By The Affiliated Tribes of Northwest Indians Economic Development Corporation

    Salmon River Outpost and Scotts Valley Energy Company, Supported by the Consortium Led By The Affiliated Tribes of Northwest Indians Economic Development Corporation

    The Affiliated Tribes of Northwest Indians Economic Development Corporation (ATNI-EDC) serves Tribes across Oregon, Idaho, Washington, southeast Alaska, Northern California and Western Montana. 

     

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  • Extrunet in Michigan

    Extrunet America is a supply chain company that produces extrusion machinery and tooling, primarily for clients in the decking, fencing, and window industries. The Michigan Economic Development Corp provided Extrunet America with $532,000 in SSBCI-funded collateral support, unlocking access to a $1.3 million bank loan to fund business expansion by nearly doubling their production facility and adding three new jobs. 

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Read more Success Spotlights

 

Recent SSBCI News and Announcements

Treasury Department Releases Fourth Quarterly Report on Deployment of SSBCI Capital to Small Businesses (9/17/2024)

U.S. Department of the Treasury Announces Up to $83 Million in American Rescue Plan Small Business Support to Drive Economic Growth for 125 Alaska Tribes (8/6/2024)

SSBCI Spotlight: How States, the District of Columbia, Territories, and Tribes are Using SSBCI to Catalyze Investment in Underserved Entrepreneurs and Venture Capital Fund Managers (7/10/2024)

U.S. Department of the Treasury Announces New Funding to Support Small Businesses in Tribal Governments as Part of the Biden-Harris Administration’s Investing in America Agenda (7/2/2024)

U.S. Department of the Treasury Announces New Funding to Support Technical Assistance for Small Businesses as Part of the Biden-Harris Administration’s Investing in America Agenda (7/2/2024)

U.S. Department of the Treasury Announces $97 Million Investment to Support Small Business Success in Alabama (7/2/2024)

Treasury Department Releases Third Quarterly Report on Deployment of SSBCI Capital to Small Businesses (6/12/2024)

SSBCI Guidebook: Communications and Media Relations (6/3/2024)

Treasury Department Releases Second Quarterly Report on Deployment of SSBCI Capital to Small Businesses (3/29/2024)

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 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)

Read more News and Announcements

 

 

 

CONTACT US

Any questions regarding the SSBCI program should be submitted to ssbci_information@treasury.gov.

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 ssbci_information@treasury.gov.

 

SELF-SERVICE RESOURCES

Program recipients with questions about reporting, technical issues, eligible uses of funds, or other items click here for self-service resources.