Is there a Webinar or Zoom call that I can attend? In fact, we've established a special Office of Small Business Affairs to connect business owners with resources that can help spark growth or ease relocation. We're here to help New York State's small businesses reimagine, rebuild and renew. 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. Minnesota will receive funds in three disbursements over several years. 4.1. Overview. The Pennsylvania State Small Business Credit Initiative (PA-SSBCI) provides funding to economic development partners for the implementation and administration of capital programs to support small businesses through loans and equity investments: The following economic development organizations are eligible to apply for the Revolving Loan Fund component: The following economic development organizations are eligible to apply for the Direct Venture Investment component: Pennsylvania has allocated $125,838,132 of funding to the Revolving Loan Fund component and $125,000,000 of funding to the Direct Venture Investment component. More importantly, 80% of the loans and investments of the first SSBCI went to small businesses with 10 or fewer employees. How much money have I been preliminarily allocated to receive? 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). In January, the Michigan Strategic Fund board approved the State Small Business Credit Initiative (SSBCI 2.0) Michigan Business Growth Fund 2.0 programs and guidelines to access a minimum of $215.7 million in federal funding allocated to Michigan in 2021 through an American Recovery Plan allocation. Fund Tennesseeis expecting to launch in the first part of 2023. To ensure equitable access across the state, DCED has contracted with economic development partners at the regional and local levels to administer loan and equity programs. Entities are able to manage organizational information, such as legal business name and physical address associated with a UEI number, directly from SAM.gov. For the Capital Program, Quarterly and Annual Reporting will be required for Recipients of SSBCI funding. From there, click the Start an Application button located on the top, right-hand corner of the page and follow the instructions. How do I edit my individual account information? Our mission is to improve the quality of life for Pennsylvania citizens while assuring transparency and accountability in the expenditure of public funds. Where can I get more information on the Transition to UEI Number? 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. 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. What Entities are eligible for the Technical Assistance Grant Program? (404) 679-4840, Providing resources, tools, and technical assistance to cities, counties, and local authorities to help strengthen communities, Connecting communities to funding sources to help build capacity and encourage economic development while honoring the communitys past through historic preservation, Helping communities meet housing needs and connecting people with housing assistance, 2018 Georgia Department of Community Affairs. It seems the federal government offers loan guarantees and funds to states, who in turn offer loans processed by banks and credit unions. If you are a Participating Jurisdiction and do not know who your outreach manager is, please contact ssbci_information@treasury.gov. It allowed states to design and implement programs to accommodate various business needs. The Small Business Jobs Act of 2010 (the "Act") was signed into law on September 27, 2010. Contact Information All other inquiries should be directed to the Public Affairs Office of the Treasury and any press inquiries should be directed to Press@Treasury.gov. SAM validates information and electronically shares the secure and encrypted data with the federal agencies' Finance Offices to facilitate paperless payments through Electronic Funds Transfer (EFT). Financial support for small business across states. Responses are due November 3, 2022. To find the self-service options, please go to ID.me, select My Account, select Sign In then select the Forgot password link and follow the instructions. For more information, please visit theU.S. Department of the Treasuryswebsite. Specifically, beginning in FY 2021, the Department of the Treasury (Treasury) is authorized to provide up to $10 billion in support for small business capital . 4.2. Directory of State of Nevada Employees and Elected Officials with phone numbers, emails and general information. Why do I need to use ID.me? The primary objective of the SSBCI is to enhance new or existing state programs that provide access to capital for small businesses and manufacturers. 3.11. Apply now Overview: Under the Consolidated Appropriations Act of 2021, $50 million was provided to the United States Department of Agriculture (USDA), Agriculture Marketing Service (AMS) for the Seafood Processors Pandemic Response and Safety (SPRS) Block Grant Program. The mission of the Department of Community and Economic Development (DCED) is to foster opportunities for businesses to grow and for communities to succeed and thrive in a global economy. This is the second SSBCI initiative - Minnesota received $15 million through the Small Business Jobs Act of 2010. Your UEI number is located below the DUNS number on your Entity Registration Record. Treasury will review complete applications as quickly as possible, in the order in which they are received. So whether you're looking for financing, technical assistance or just a single point of contact to help you navigate the breadth of . Why do I need to sign up at SAM.gov? 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. What Entities are eligible for the Capital Program? Florida received a total SSBCI allocation of $97,662,349. Information and updates will beshared on this website. It also provides technical assistance to small businesses applying for SSBCI funding. The initial SSBCI program (SSBCI 1.0) was funded with $1.5 billion to strengthen state programs that support financing of small businesses. For the Capital program, preliminary program allocations for states, territories, and the District of Columbia can be on the programs website at Treasury.gov/SSBCI by scrolling down to the Program Rules and Materials section then clicking on the Allocations for States Territories Washington DC and Tribal Governments link. The Treasury Portal does not work well on Internet Explorer. The increased access to capital stems from the state's successful application for $15,487,998 in federal funds from the U.S. Department of Treasury through the State Small Business Credit Initiative (SSBCI). Of the total amount funded, Georgia was allocated $48,024,748. Contact our office to inquire about becoming a participating lender. 6.5. 2021 State Small Business Credit Initiative (SSBCI) Application Material Documents and resources for the 2021 SSBCI program. New York State Small Business Revolving Loan Fund Round 2. For more information, please visit Treasury.gov/SSBCI. . 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. 2.5. 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. IBank is the lead applicant and they have signed an allocation agreement with U.S. Treasury. For more information, please visit the U.S. Department of the Treasury's website. Addresses inequitable capital access by bridging the financing gaps facing new companies, under-banked communities and small businesses. 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. What is the last day I can apply for the Technical Assistance Grant Program? The State Small Business Credit Initiative (SSBCI) is a $10 billion small business program managed by the U.S. Department of the Treasury (Treasury). Required supplemental information outlined in Appendix I of the program guidelines must be attached electronically to the application as directed on the Addenda tab. debt program, and AssistTN, the technical assistance components. Please refer to the Federal Service Desk for assistance with your SAM.gov account. Phone: (615) 741-1888 Questions added 9/16/22: 1.1, 2.1-2.11, 3.1-3.11, 4.1-4.9, 5.1-5.2, 6.1-6.6, 7.1-7.2, 8.1-8.3. 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. The One-Stop Business Portal is also in development, which will provide small businesses with one resource for starting and running . An online application portal is forthcoming. We recommend you review their webpage for full instructions. We and our partners use cookies to Store and/or access information on a device. Why isnt the system accepting [x] information? Lending is provided by participating lenders. State Small Business Credit Initiative: Implementation and Funding Issues Congressional Research Service 2 costs).6 As of December 31, 2016, all 57 participants had received their first tranche, 56 had received their second tranche, and 53 had received their third tranche.7 States were expected to leverage their SSBCI funds to generate new small business lending that is The SSBCI Program is now a state-administered revolving loan program. States, the District of Columbia, and Territories must submit their completed SSBCI Technical Assistance (TA) Grant Program application by October 14, 2022 at 11:59 pm ET (Eastern Time). My entity does not have a UEI number. of Treasury has released funds to somestates/territories, it is a rolling process. 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 . / What is the status of my application? Please refer to SAM.gov for further information. During this time, approximately 69 percent of the funding supported . SSBCI 1.0 was passed in 2010 and ran from 2011 to 2017. Home ->> CPCFA ->> State Small Business Credit Initiative, Please send program inquiries to ssbci@treasurer.ca.gov. The $1.4 billion of the first SSBCI was able to leverage more than $8 billion in private small business loans and investments. CDFA's SSBCI Resource Center is the central source for announcements, events, and information related to the SSBCI program. LOUISIANA VETERANS FIRST BUSINESS INITIATIVE. U.S. Treasury is in the process of accepting applications for SSBCI 2.0 Technical Assistance. I have Subrecipients to report that have a DUNS, but no UEI. Ohio initially will receive $52.4 million to support socially and economically disadvantaged individuals and very small businesses. If you are a future, new, or existing DBE, small business owner, or entrepreneur looking for more resources now, visit the BERO website and/or TNSmartStart.com to get your personalized list of resources, build your own business model canvas, or locate resources near you. Technical Assistance for small businesses will be implemented by technical service providers after U.S. Treasury completes the application and award process. What are the eligible uses for these funds? All rights reserved. /. 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. 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). The consent submitted will only be used for data processing originating from this website. Through SSBCI 2.0, Treasury will provide funds to states, the District of Columbia, territories, and Tribal governments . State Small Business Credit Initiative SSBCI Self-Service Resources SSBCI Self-Service Resources View complete set of self-service resources. 2021 State Small Business Credit Initiative Application Updated (5/24/2022), 2021 State Small Business Credit Initiative Application User Guide (5/24/2022), Compliance and Oversight Narrative Template, Assurances of Compliance with Civil Rights Requirement Template, Technical Assistance Program Application Template, Technical Assistance Templates and Certifications, Sample Technical Assistance Notice of Award, 2021 State Small Business Credit Initiative (SSBCI) Application Material, 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. ID.me is a technology partner to multiple Government Agencies and Healthcare Providers. Im trying to do something in the Treasury Portal and its not working. Please reference the website at Treasury.gov/SSBCI for more information. The Act created the State Small Business Credit Initiative (SSBCI) to provide direct support to states for use in programs designed to increase access to credit for small businesses. First, verify that your name and initials are correct. To access the reporting guidance, scroll down to the Program Rules and Materials section then click on Capital Program Reporting Guidance. If you are having difficulty registering on SAM.gov, please refer to the Federal Service Desk for assistance with your SAM.gov account. 4.7. While national mediaoutlets have noted that the US Dept. This document contains answers to frequently asked questions regarding the Department of Treasury State Small Business Credit Initiative (SSBCI). Documents and resources for the 2021 SSBCI program. 2.3. For more information on allocations and allocation methodology, please visit the State Small Business Credit Initiative website at Treasury.gov/SSBCI. Please check your browser. Currently, Georgias SSBCI offers two programs. If you would like to change your name or initials, type the changes in the Full Name and Initials fields. Individuals, Small Businesses, or Wrong Program, 6. 4.3. On March 11, 2021, President Biden signed The American Rescue Plan Act, which reauthorized and funded the State Small Business Credit Initiative (SSBCI). Can you send me the form to fill out? With SSBCI 2.0, the program will have $10 billion available for creating specialized small business access to capital programs.
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