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). Tennessee's SSBCI 2.0 program, calledFund Tennessee, is comprised of InvestTN, the equity component, LendTN, thedebt program, and AssistTN, the technical assistance components. Further information on how these allocations were made can be found by accessing in the Technical Assistance Grant Program Guidelines on the same page. The American Rescue Plan Act (ARPA) provided Treasury with $500 million to deploy technical assistance (TA) for underserved entrepreneurs to access $10 billion in State Small Business Credit Initiative (SSBCI) funding. Tribal Governments must submit their completed SSBCI TA Grant Program application by December 9, 2022 at 11:59 pm ET. Home ->> CPCFA ->> State Small Business Credit Initiative, Please send program inquiries to [email protected]. All Entities can obtain a Unique Entity Identifier (UEI) number on the Sam.gov website and register for an account if needed: 4.4. What is ID.me? You can find information on those programs on the Treasury.gov website at http://treasury.gov/Recovery. 7.1. There is no set turnaround time for reviewing applications. Following approval, program documentation, including submission guidelines, will be made available via the TSBCI web portal, which will also be open to accept applications from financial institutions interested in participating in the program. From there, click the Start an Application button located on the top, right-hand corner of the page and follow the instructions. Further information on how these allocations were made can be found by accessing in the Capital Program Policy Guidelines on the same page. 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. Delaware Capital Access Program and State Small Business Credit Initiative Participation Loan help lenders to provide financing to businesses deemed too risky for the traditional banking model due to minor collateral or credit issues. 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. SmallBizLoansProgSummary102517.pdf. On March 11, 2021, President Biden signed The American Rescue Plan Act, which reauthorized and funded the State Small Business Credit Initiative (SSBCI). 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. 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. Responses are due November 3, 2022. Please ensure your legacy DUNS number is accessible for historical reference where needed, as the DUNS number will no longer be visible to Users in SAM.gov after April 4, 2022. These participating lendersundergo a vetting process whereby the State will evaluate the lender on management and lending experience as well as financial capacity and ability. The expectation is that this funding will generate the minimum bang for the buck of $10 in private investment for every $1 in federal funding . My entity does not have a UEI number. 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). Lenders looking to participate in the SSBCI program will undergo a vetting process. It seems the federal government offers loan guarantees and funds to states, who in turn offer loans processed by banks and credit unions. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. Small business financing programs, which includes Capital Access programs, Loan Participations, Loan Guarantees, Collateral Support, and Venture Equity programs. 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. Financial support for small business across states. 3.10. Why am I unable to log in? Does anyone understand where we're at with this program or have any other insights? Im having issues with my SAM.gov account. You can check the status of your application at any time by logging into the Treasury Portal at Portal.Treasury.gov/cares. So whether you're looking for financing, technical assistance or just a single point of contact to help you navigate the breadth of . 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 When reporting begins, Entities will submit required reports to Treasury using an online portal that will be available at Treasury.gov/SSBCI. No action is required if you have an existing and active registration in SAM.gov. The U.S. Department of Treasury (Treasury) is administering a second installment of the State Small Business Credit Initiative (SSBCI 2.0) as part of the American Jobs Plan. 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When the Finish button becomes active, you can complete the signing. This is primarily due to the hands-off approach of the program by allowing states the flexibility to design their own small business support programs. New SAM.gov registrants will be assigned a UEI number as part of their SAM registration. 4.7. 6.5. How do you get an application for small business loan? All applications and required supplemental information must be electronically submitted by close of business on August 19, 2022. Minnesota will receive funds in three disbursements over several years. 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), Enrolled Loan and Leverage Ratio Tables User Guide, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. 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. IBank is the lead applicant and they have signed an allocation agreement with U.S. Treasury. What is the Unique Entity Identifier (UEI) number? Is there a Webinar or Zoom call that I can attend? After performance targets are . Funding is available from U.S. Treasury in three tranches, and the first tranche of funding - $142 million - is ready for deployment. Use the Auto Navigation feature (yellow tab) to help you navigate. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. The One-Stop Business Portal is also in development, which will provide small businesses with one resource for starting and running . If you are having difficulty registering on SAM.gov, please refer to the Federal Service Desk for assistance with your SAM.gov account. Through SSBCI 2.0, Treasury will provide funds to states, the District of Columbia, territories, and Tribal governments for small business credit support and investment . Ohio initially will receive $52.4 million to support socially and economically disadvantaged individuals and very small businesses. 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. Please check your browser. This is a considerable increase from the first SSBCI and the $1.4 billion it offered in 2010. Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. And find a statewide network of centers staffed by people who can walk you through how to apply. Please refer to help.id.me for more details on that process. Fund Tennesseeis expecting to launch in the first part of 2023. Small Business Credit Initiative Launches in Nevada. Documents and resources for the 2021 SSBCI program. Information about the UEI transition can be found by accessing GSA.gov and searching on Unique Entity Identifier Update. Any changes to the application deadline will be posted on the website. 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. What steps do I need to complete in ID.me? Technical Assistance to very small businesses and businesses owned and controlled by Socially and Economically Disadvantaged Individuals (SEDI) owned businesses applying for SSBCI and other government programs. 4.6. Maryland has been approved by the U.S. Treasury to administer up to $198 million in federal assistance, including subsequent performance-based funds, through the State Small Business Credit Initiative (SSBCI). With small businesses continuing to face challenges brought on by the pandemic, the U.S. Department of Treasury has expanded the State Small Business Credit Initiative (SSBCI) Program as a part of The American Rescue Plan Act of 2021. Also please verify that you are using a supported browser. The funds SSBCI makes available benefit both small businesses and lenders because of the federal involvement. 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. Please reference the website at Treasury.gov/SSBCI for more information. How long will it take me to register with SAM.gov? Phone: (615) 741-1888 Some of our partners may process your data as a part of their legitimate business interest without asking for consent. State Small Business Credit Initiative Created as part of the Small Business Jobs Act of 2010, SSBCI was designed by the federal government to help states strengthen existing loan and equity programs and/or create new programs that support financing small businesses. If you are a Participating Jurisdiction and do not know who your outreach manager is, please contact [email protected]. Quarterly Reports Each participating jurisdiction must submit to Treasury a quarterly report for the first full calendar quarter following the execution of its Allocation Agreement with Treasury and each quarter thereafter. How do I know if a specific use is eligible? Initial payments will occur sometime after the application is fully reviewed and approved and an allocation agreement is signed. 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. Applications to become a subrecipient will be accepted until January 14 . The SSBCI is managed by the U.S. Department of the Treasury, and it will be allocating the funds. Eligible Recipients under the Technical Assistance (TA) Grant Program are States, the District of Columbia and Territories that submitted a complete SSBCI Capital Program application by February 11, 2022; and Tribal Governments that submit a complete SSBCI Capital Program application by October 31, 2022. Their website is fsd.gov and you can also call them at 866-606-8220 from 8am - 8pm EST. 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. Indiana was approved to receive up to $99 million in federal funding through the State Small Business Credit Initiative (SSBCI) to expand access to and increase working capital for Hoosier entrepreneurs, startups and small business owners. For the Capital Program, Quarterly and Annual Reporting will be required for Recipients of SSBCI funding: For more information on reporting, please refer to the Capital Program Reporting Guidance available on the program website at Treasury.gov/SSBCI. Small Business Credit Initiative Frequently Asked Questions, https://home.treasury.gov/policy-issues/small-businessprograms/state-small-business-credit-initiative-ssbci/2021-ssbci/program-materials/application-materials, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service, This document contains answers to frequently asked questions regarding the Department of Treasury State Small Business Credit Initiative (SSBCI). We believe that access to loan capital is a fundamental component of an equitable, vibrant, and growing economy. Look for the Register Your Entity or Get a Unique Entity ID section on the page then click Learn Mo. For further information on the transition to UEI Number, access SAM.gov. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. The program will allow for a veteran, active or reserve military, or Gold Star spouse who have a fifty-one percent ownership in a business to apply for and gain certification to recognize and promote their businesses. SSBCI, which is administered by the U.S. Department of Treasury (Treasury), provides funding to be used for credit and investment programs for existing small businesses and start-ups. Similarly, Treasury will automatically populate your existing account records with the GSA-issued UEI number in the Treasury.gov Application and Compliance portal, as applicable. Why do I need to use ID.me? Now open! Weencourage those interested in Tennessee's SSBCI program to check backperiodically and/orsign-upfor the newsletter for upcoming announcements. For more information, please visit theU.S. Department of the Treasuryswebsite. March 31, 2023- Applications for SSBCI technical assistance funding from Tribal governments are due (application materials). When logged into the Treasury Portal, click on the Avatar in the top right-hand corner of the screen. The SSBCI program allocates nearly $10 billion to states, the District of Columbia, territories, and Tribal governments to increase access to capital and . The Small Business Jobs Act of 2020, signed into law on September 27, 2010, was created to help small businesses create jobs to drive the economic recovery. To access the reporting guidance, scroll down to the Program Rules and Materials section then click on Capital Program Reporting Guidance. I am trying to fill out the application. The State of Georgia application to the U.S. Treasury was approved and the allocation agreement executed in December 2011. Texas Economic Development P.O. This means small business owners that otherwise wouldnt get any loans could qualify under SSBCI. 2011 State Small Business Credit Initiative Application, State Small Business Credit Initiative (SSBCI) Application, Budget, Financial Reporting, Planning and Performance, Financial Markets, Financial Institutions, and Fiscal Service, Treasury Coupon-Issue and Corporate Bond Yield Curve, Treasury International Capital (TIC) System, Kline-Miller Multiemployer Pension Reform Act of 2014, Taxpayers Will See Improved Service This Filing Season Thanks to Inflation Reduction Act, Disparities in the Benefits of Tax Expenditures by Race and Ethnicity, Racial Differences in Economic Security: Non-Housing Assets, Treasury Sanctions People Involved in Serious Human Rights Abuse Against Vladimir Kara-Murza, Treasury Announces Approval of Up to $890.7 Million to Support Small Business Success Across Three States, Treasury Sanctions CJNG-Run Timeshare Fraud Network.