In late November 2021, Treasury launched an application portal for the State Small Business Credit Initiative (SSBCI) at Portal.Treasury.gov/cares. Minnesota has been approved by the U. S. Department of the Treasury for up to $97 million for small business financing support. Technical Assistance Grant Program Preliminary Allocations to Tribal Governments - Methodology Summary, Technical Assistance Grant Program Tribal Consult Summary, Capital Program Policy Guidelines (Updated 12/15/2022), Frequently Asked Questions SSBCI Capital and TA Grant Programs (Updated 12/8/2022), Capital Program National Compliance Standards (11/17/2022), Capital Program Reporting Guidance (Updated 9/30/2022), Technical Assistance Program Application Template, Sample Technical Assistance Notice of Award, Capital Program Sample Certifications (Updated 7/28/2022), Preliminary Technical Assistance Grant Program Allocation Table (4/28/2022), Technical Assistance Grant Program Guidelines (4/28/2022), Allocations for States Territories Washington DC and Tribal Governments, Preliminary Allocation to Tribal Governments Methodology Summary (Updated 11/10/2021). When additional information becomes available, it will be posted on the program website at Treasury.gov/SSBCI. For overall information about the program, including information on requesting funding, please see, For general questions about SSBCI, please email. Small Business Credit Initiative Launches in Nevada. Recent SSBCI News and Announcements from the last 60 days: Treasury Announces Approval of Up to $890.7 Million to Support Small Business Success Across Three States (3/2/2023), Treasury Announces Approval of Up to $353.4 Million to Support Small Business Success Across Four States | U.S. Department of the Treasury (2/27/2023), Treasury Announces Approval of Up to $339 Million to Support Small Business Success Across Three States and Two U.S. Ohio was approved by the U.S. Department of Treasury to receive funding through the federal State Small Business Credit Initiative (SSBCI) to support small businesses across the state. Additionally, businesses in low- and moderate-income communities were also beneficiaries of the program. PROGRAM OVERVIEW INTRO PAGE On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021, which provided $10 billion to fund the State Small Business Credit Initiative (SSBCI). State Small Business Credit Initiative (SSBCI) was originally created in the Small Business Jobs Act of 2010 to increase availability of credit for small businesses. If you are registered in SAM.gov, your UEI number has already been assigned and is viewable in your SAM.gov account. Additional guidance, forms, and other resources with information about the SSBCI program will be posted as details are available. The State of Georgia application to the U.S. Treasury was approved and the allocation agreement executed in December 2011. Further information on how these allocations were made can be found by accessing in the Capital Program Policy Guidelines on the same page. No action is required if you have an existing and active registration in SAM.gov. TheU.S. Department of Treasury (Treasury)is administering a second installment of theState Small Business Credit Initiative (SSBCI 2.0)as part of theAmerican Jobs Plan. The Treasury Portal supports most modern browsers including Microsoft Edge, Google Chrome, and an updated version of Safari. All Recipients and Subrecipients can obtain a Unique Entity Identifier (UEI) number on the Sam.gov website and register for an account if needed: For more information, please access the SAM.gov website. Officials, Human Of the total amount funded, Georgia was allocated $48,024,748. For more information on submitting reports for the Capital Program, please access the program website at Treasury.gov/SSBCI, scroll down to the Program Rules and Materials section then click on Capital Program Reporting Guidance. Minnesota will receive funds in three disbursements over several years. Do I really have to provide ID.me with my personal information? Texas Small Business Credit Initiative The objective of the Texas Small Business Credit Initiative (TSBCI) is to support state programs that provide resources to assist small business growth and create new jobs through increased access to small business funding. Tribal Governments must initiate and submit their completed SSBCI capital program application by October 31, 2022, at 11:59 p.m. Required supplemental information outlined in Appendix I of the program guidelines must be attached electronically to the application as directed on the Addenda tab. Fund Tennesseeis expecting to launch in the first part of 2023. for the newsletter for upcoming announcements. Additional Information Businesses will apply for funding through their local economic development organization. For the lenders there is a lower risk of loss, thus allowing them to approve loans they would ordinarily decline. How do you get an application for small business loan? Five new programs to be offered through the State Small Business Credit Initiative (SSBCI) OLYMPIA, WA - Washington state has been awarded $163.4 million from the U.S. Treasury Department to operate five capital access programs for small businesses. Why do I need to sign up at SAM.gov? Note:These funds are not available in Tennessee, yet. Applications will be accepted between July 18, 2022 through August 19, 2022. / How do I reset my password? How do I receive payment (Wire, ACH)? If the email is still not found, Users can trigger the email to be resent from within the Treasury Portal. From there, you can make any appropriate edits then click Save. There does not seem to be a portal for small businesses yet - or . Congress appropriated $1.5 billion to the Initiative. I am trying to fill out the application. All applications must be submitted electronically through the Treasury Portal at Portal.Treasury.gov/cares. Tribal Governments must submit their completed SSBCI TA Grant Program application by December 9, 2022 at 11:59 pm ET. While national mediaoutlets have noted that the US Dept. 4.9. LOUISIANA VETERANS FIRST BUSINESS INITIATIVE. We and our partners use cookies to Store and/or access information on a device. For further assistance, reach out to support.docusign.com. Also please make sure you are using a supported browser. Im having issues with my SAM.gov account. This initiative was originally created in 2009 under the Obama Administration. Why isnt the system accepting [x] information? Please refer to the Federal Service Desk for assistance with your SAM.gov account. 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As a reminder, you must log in using the single sign on that you created using ID.me. My entity does not have a UEI number. Apply for SSBCI through Social Impact Funds Apply for SSBCI through Seed Funds Apply for SSBCI through Venture Funds TEDCO's Venture Capital Limited Partner (VCLP) Program - Interest Form: Emerging fund managers interested in applying to the program, should complete the interest form by 5:00pm ET on Monday, January 9, 2023. Eligible Entities can either create an account (your identity will need to be verified through ID.me) or log in. Also please verify that you are using a supported browser. /. Small Business Owners Struggling with Inflation, How to Support Small Business on Small Business Saturday, 10 New Years Resolutions to Consider for Your Small Business in 2021, Which Small Businesses Will Thrive in 2021, $6.5 billion for State allocation $6 billion based on unemployment and half a billion dollars based on percentage of companies with less than ten employees, $1.5 billion for businesses owned and controlled by socially and economically disadvantaged individuals, $1 billion for incentives to States/Tribal governments that demonstrate robust support for businesses owned and controlled by socially and economically disadvantaged individuals, Half a billion dollars for technical assistance programs, Half a billion dollars for Tribal governments, Purchase or construction renovations of non-passive real estate. Note: The State of Texas is currently awaiting SSBCI application approval from the U.S. Department of the Treasury. You can find information on those programs on the Treasury.gov website at http://treasury.gov/Recovery. Through SSBCI, Treasury will provide funds to states, the District of Columbia, territories, and . It can be used for planning purposes. This document contains answers to frequently asked questions regarding the Department of Treasury State Small Business Credit Initiative (SSBCI). At that point, Entities doing business with the Federal Government must use a Unique Entity Identifier (UEI) number assigned in SAM.gov and will no longer use a third-party website to obtain their identifier number. If you are a business or a lending institution that is interested in participating in small business financing programs through the SSBCI, please go to http://treasury.gov/ssbci and click on the List of Proposed Programs and Contacts link to locate the State or Territorial contact in your area. The Treasury Portal supports most modern browsers including Microsoft Edge, Google Chrome, and an updated version of Safari. 6.1. I have Subrecipients to report that have a DUNS, but no UEI. SSBCI is expected to create billions of dollars in lending and investments to small businesses that are not getting the support they need to expand and create jobs. The primary objective of the SSBCI is to enhance new or existing state programs that provide access to capital for small businesses and manufacturers. State Small Business Credit Initiative (SSBCI) Hello folks. For more information, visit the program website at Treasury.gov/SSBCI. SSBCI, small business credit, direct venture investment, revolving loan, PA-SSBCI, small business loan, PA Department of Community and Economic Development. The State Small Business Credit Initiative (SSBCI) provides funds to States, Territories, and Tribal governments to enable these jurisdictions to support programs for small businesses. Please verify that you are supplying the information in the correct format. Quarterly reports must be submitted within 30 days after the end of each quarterly reporting period (excluding the quarterly reporting period ending on the expiration date of the Allocation Agreement). The Ohio Capital Access Program (OCAP) is a loan portfolio insurance program, similar to a loan guarantee, that enables small businesses to obtain credit to help them grow and expand their businesses. This document also contains the preliminary allocation methodology summary for Tribal governments. As part of the American Rescue Plan Act of 2021, the Oklahoma Center for the Advancement of Science and Technology (OCAST) will receive up to $81.6 million in State Small Business Credit Initiative (SSBCI) funding to provide more access to capital for startups and small businesses in Oklahoma. Request for Information: Treasury posted a request for information (RFI) in the Federal Register to gather input from the public about SSBCIs Technical Assistance programs. Once the modifications are completed, we will post the revised RFP to this site. An online application portal is forthcoming. Does anyone understand where we're at with this program or have any other insights? Please note that SAM.gov registration can take up to three weeks; delay in registering in SAM.gov could impact timely payment of funds. A payment confirmation will be sent to the contact person and Authorized Representative, communicating the scheduled date of payment.