If you did not receive the email, it could be because it was blocked by your Email Server, Firewall, Email Provider or Email Client. Does anyone understand where we're at with this program or have any other insights? More importantly, 80% of the loans and investments of the first SSBCI went to small businesses with 10 or fewer employees. 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). Empire State Development's Small Business Division supports the development and expansion of businesses with under 100 employees - directing an array of programs and initiatives supporting small business growth and helping entrepreneurs maximize opportunities for success. Diversity, Equity, Inclusion, and Accessibility, Alcohol and Tobacco Tax and Trade Bureau (TTB), Financial Crimes Enforcement Network (FinCEN), Office of the Comptroller of the Currency (OCC), Treasury Inspector General for Tax Administration (TIGTA), Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Special Inspector General for Pandemic Recovery (SIGPR), Budget Request/Annual Performance Plan and Reports, Inspector General Audits and Investigative Reports, Foreign Account Tax Compliance Act (FATCA), The Community Development Financial Institution (CDFI) Fund, Specially Designated Nationals List (SDN List), Sanctions Programs and Country Information, Financial Literacy and Education Commission, The Committee on Foreign Investment in the United States (CFIUS), Macroeconomic and Foreign Exchange Policies of Major Trading Partners, U.S.-China Comprehensive Strategic Economic Dialogue (CED), Small and Disadvantaged Business Utilization, Daily Treasury Par Real Yield Curve Rates, Debt Management Overview and Quarterly Refunding Process, U.S International Portfolio Investment Statistics, Report Fraud Related to Government Contracts, Cashing Savings Bonds in Disaster-Declared Areas, Community Development Financial Institution (CDFI) Fund, Electronic Federal BenefitPayments - GoDirect, General Property, Vehicles, Vessels & Aircraft. Find out more about our Business Pandemic Recovery Initiative programs, including tax credits and grant funding, below. Tribal Governments interested in participating in SSBCI were required to submit a Notice of Intent (NOI) to apply for SSBCI funds by December 11, 2021. By clicking the continue button or continuing to use our website, you are consenting to our, Certified Economic Development Organizations, Educational Improvement Tax Credit Program (EITC), Opportunity Scholarship Tax Credit Program (OSTC), Neighborhood Assistance Program, Enterprise Zone Tax Credit (NAP/EZP), Entertainment Economic Enhancement Program (EEEP), Pennsylvania Capital Access Program (PennCAP), HOME Investment Partnership Program (HOME), H2O PA - Water Supply, Sanitary Sewer and Storm Water Projects, Shapiro Administration Awards New Funding to Increase In-Demand Electrical Worker Apprentices in Pennsylvania, Shapiro Administration Announces Nearly $2 Million in New PIDA Loans to Spur Business Growth, Job Creation in Two Counties, DCED Legislative Budget Presentation FY 2022-23, Certified Economic Development Organizations (CEDOs), Community Development Financing Institutions (CDFIs). ID.mes support website can be found at help.id.me. SSBCI will allocate at least $500 million to Tribal governments. Copyright 2003 - 2023, Small Business Trends LLC. The objective of SSBCI is to support state programs that provide resources to assist small business growth and create new jobs through increased access to small business funding. Please refer to help.id.me for more details on the verification process. As a reminder, you must log in using the single sign on that you created using ID.me. 2023. There is no set turnaround time for reviewing applications. 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. On March 11, 2021, the U.S. Congress enacted the American Rescue Plan Act, which, in part, provides $10 billion to fund the State Small Business Credit Initiative (SSBCI). Pennsylvania Department of Community and Economic Development, https://dced.pa.gov/wp-content/themes/business2015/images/logo-l.png, Pennsylvania State Small Business Credit Initiative (PA-SSBCI). Tribal Governments interested in participating in SSBCI were required to submit a Notice of Intent (NOI) to apply for SSBCI funds by December 11, 2021. If you would like to change your name or initials, type the changes in the Full Name and Initials fields. On April 4, 2022, the Federal Government transitioned from the DUNS number issued by Dun and Bradstreet to the Unique Entity Identifier (UEI). This California paid sick leave law provides most employees in the state with paid time off if they need to be absent from work for medical reasons or to take care of an ailing family member. 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. Diversity, Equity, Inclusion, and Accessibility, Alcohol and Tobacco Tax and Trade Bureau (TTB), Financial Crimes Enforcement Network (FinCEN), Office of the Comptroller of the Currency (OCC), Treasury Inspector General for Tax Administration (TIGTA), Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Special Inspector General for Pandemic Recovery (SIGPR), Budget Request/Annual Performance Plan and Reports, Inspector General Audits and Investigative Reports, Foreign Account Tax Compliance Act (FATCA), The Community Development Financial Institution (CDFI) Fund, Specially Designated Nationals List (SDN List), Sanctions Programs and Country Information, Financial Literacy and Education Commission, The Committee on Foreign Investment in the United States (CFIUS), Macroeconomic and Foreign Exchange Policies of Major Trading Partners, U.S.-China Comprehensive Strategic Economic Dialogue (CED), Small and Disadvantaged Business Utilization, Daily Treasury Par Real Yield Curve Rates, Debt Management Overview and Quarterly Refunding Process, U.S International Portfolio Investment Statistics, Report Fraud Related to Government Contracts, Cashing Savings Bonds in Disaster-Declared Areas, Community Development Financial Institution (CDFI) Fund, Electronic Federal BenefitPayments - GoDirect, General Property, Vehicles, Vessels & Aircraft. The Small Business Jobs Act of 2010 (the Act) became law in the fall of 2010. Per the agreement, the oversight with the U.S. Treasury expired on March 31, 2017. No action is required if you have an existing and active registration in SAM.gov. What is the Unique Entity Identifier (UEI) number? SSBCI 1.0was passed in 2010 and ran from 2011 to 2017. For small businesses, it offers attractive terms for loans, flexible resources for funding with little red tape, fast access to funds, and a quick answer to a loan request. /. "Small Business Trends" is a registered trademark. State Small Business Credit Initiative | Committee on Jobs, Economic Development, and the Economy Skip to main content Skip to: Content| Footer| Accessibility| Translate this website on Google Translate Search Input California State AssemblyCommittee on Jobs, Economic Development, and the Economy Committee Home JEDE Rules and Jurisdiction Select the Settings link. SSBCI 2.0 funds were allocated as follows: Could be before or after loan or equity infusion, general assistance; to be allocated as a separate grant, Socially and Economically Disadvantaged Businesses (SEDI), Tennessee does not have any tribal governments. Please check your browser. Overview. A payment confirmation will be sent to the contact person and Authorized Representative, communicating the scheduled date of payment. This is to deliver capital to small businesses that urgently need it in the U.S. / Am I required to report? First, verify that your name and initials are correct. Financial support for small business across states. Currently, non-Tribal applications must have been initiated by December 11, 2021 and completed by February 11, 2022 at 11:59pm ET (Eastern Time). Im having issues with my SAM.gov account. When additional information becomes available, it will be posted on the program website at Treasury.gov/SSBCI. 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. What is ID.me? Do I really have to provide ID.me with my personal information? How long will it take me to register with SAM.gov? When approved a business can generally use the funds for: This can vary by state, so make sure to check. You can check the status of your application at any time by logging into the Treasury Portal at Portal.Treasury.gov/cares. 2.8. These State Small Business Credit Initiative funds are awarded to Delaware, Kentucky, Tennessee, and Wyoming to support local small business financing and investment programs WASHINGTON Today, the U.S. Department of the Treasury announced the approval of four additional state plans for up to $353.4 million in funding under the State Small Business Credit Initiative (SSBCI) in President . Eligibility requirements: The applicant must employ 15 or fewer employees, including the owner; The company must be 100 percent Missouri owned and 100 percent Missouri located; Fund Tennesseeis expecting to launch in the first part of 2023. The SSBCI Program is now a state-administered revolving loan program. The Texas Small Business Credit Initiative is expected to be allocated more than $472 million and the State of Texas is focused on staying apprised of the latest program information released by the U.S. Department of the Treasury. 2023 California State Treasurer's Office, Certification to Participate in the State Small Business Credit Initiative (SSBCI) Program, CalCAP Collateral Support Program Webpage, CalCAP for Small Business Program Webpage, CalCAP Participating Financial Institution Application, $1.18 B in SSBCI 2.0 Funds Awarded to California, accepting applications for SSBCI 2.0 Technical Assistance, CalCAP for Small Business Brochure (Including How It Works and Which Loans Qualify), CalCAP Collateral Support Brochure (Including How It Works and Which Loans Qualify), California Office of the Small Business Advocate (CalOSBA), referrals to help in more than 20 languages, Americas Small Business Development Centers, Within the second tranche: loan participation program. Remarks by Under Secretary for Domestic Finance Nellie Liang During Workshop on Next Steps to the Future of Money and Payments, Remarks by Secretary of the Treasury Janet L. Yellen at Bilateral Meeting with Prime Minister of Ukraine Denys Shmyhal, RT @TreasuryDepSec: At our roundtable with @BlkEconAlliance today, @SBAIsabel @RepNikema and I heard from business leaders about ways the f, RT @TreasuryDepSec: I'm in Atlanta this week with @SBAIsabel and @DepSecTodman to highlight some of the historic investments @USTreasury @S, Form 941, employer's quarterly federal tax return, State Small Business Credit Initiative (SSBCI), Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. 4.1. The funds SSBCI makes available benefit both small businesses and lenders because of the federal involvement. 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 Bidens American Rescue (2/9/2023), TA Grant Program Application Deadline Extended for Tribal Governments (12/6/2022), 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), Tribal Government Capital Program Application Submissions (11/29/2022). This document also contains the preliminary allocation methodology summary for Tribal governments. Eligible Entities include States, the District of Columbia, Territories, and Tribal Governments. Please refer to the Federal Service Desk for assistance with your SAM.gov account. The SSBCI is managed by the U.S. Department of the Treasury, and it will be allocating the funds. Their website is fsd.gov and you can also call them at 866-606-8220 from 8am - 8pm EST. Minnesota will receive funds in three disbursements over several years. In turn, states were able to adapt to existing economic conditions in their region and disperse the funds accordingly. Florida received a total SSBCI allocation of $97,662,349. Please refer to SAM.gov for further information. For the Capital Program, Quarterly and Annual Reporting will be required for Recipients of SSBCI funding. 6.1. The initiative features a newly developed refinancing mechanism to strengthen Community Development Financial Institutions lending to small business. State Small Business Credit Initiative (SSBCI) About SSBCI The State Small Business Credit Initiative (SSBCI) was created through the Small Business Jobs Act of 2010 (the "Act"). For more information, please visit the U.S. Department of the Treasury's website. Im trying to do something in the Treasury Portal and its not working. How do I check the status of my application? Email: ecd.SSBCI2.0@tn.gov, Go to Economic & Community Development (ECD), is administering a second installment of the. We and our partners use cookies to Store and/or access information on a device. If you are an eligible jurisdiction and did not receive an email, please contact Treasury at: ssbci_information@treasury.gov. How do I know if a specific use is eligible? To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. And find a statewide network of centers staffed by people who can walk you through how to apply. The Act created the State Small Business Credit Initiative, funded with $1.5 billion to strengthen state lending programs that support small businesses and manufacturers. State Small Business Credit Initiative SSBCI Self-Service Resources SSBCI Self-Service Resources View complete set of self-service resources. The program was established in 2010 by the Small Business Jobs Act of 2010 to help states address the difficulties that private businesses faced while securing financing during the nation's economic recovery. For more information, visit the program website at Treasury.gov/SSBCI. Currently, Georgias SSBCI offers two programs. Detailed questions about the conversion from DUNS number to UEI number should be directed to GSA by creating an incident ticket with the Federal Service Desk online at fsd.gov or by calling (866) 606-8220. What do I do? The U.S. Department of Treasury is administering a second installment of the State Small Business Credit Initiative (SSBCI) as part of the American Jobs Plan passed in 2021. 2.3. March 31, 2023- Applications for SSBCI technical assistance funding from Tribal governments are due (application materials). Please check your junk email, confirm your email address with the sender and select to trust all emails from DocuSign. The State Small Business Credit Initiative May 09, 2018 By Michael Eggleston , Lisa J. Locke Abstract The State Small Business Credit Initiative (SSBCI), a component of the Small Business Jobs Act of 2010, allocated nearly $1.5 billion to states to support small-business financing programs. The U.S. Department of the Treasury has launched the 2021 State Small Business Credit Initiative (SSBCI) portal. The initial SSBCI program (SSBCI 1.0) was funded with $1.5 billion to strengthen state programs that support financing of small businesses. Since 2002, the OCAP has assisted countless small businesses with their working capital and fixed-asset financing needs. The Act created the State Small Business Credit Initiative, funded with $1.5 billion to strengthen state lending programs that support small businesses and manufacturers. Annual Reports Starting in 2023, each participating jurisdiction must submit to Treasury an annual report for each calendar year by March 31 of the following year. Note:These funds are not available in Tennessee, yet. 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). This is a considerable increase from the first SSBCI and the $1.4 billion it offered in 2010. How do I apply for funds through the State Small Business Credit Initiative? Texas Economic Development P.O. Individuals, Small Businesses, or Wrong Program, 6. 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. 2.10. SSBCI was funded with $1.5 billion to strengthen state programs that support financing of small businesses. 4.9. View complete set of self-service resources. 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. 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), Capital Program Application Deadline Extended for Tribal Governments (Updated 8/26/2022), 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 Launches the 2021 State Small Business Credit Initiative (SSBCI) Technical Assistance Grant Application Portal on 8/1/2022, 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, Demographics-Related Reporting Requirements: Interim Final Rule (IFR), Tribal government Notice of Intent (NOI) Submissions(Updated 1/31/2022). How do I report them? 3.10. Because ID.me verifies your individual identity (and not your company or agency identity), you will need to provide some personal information during the ID.me verification process.