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The initiative is a partnership between the federal government and individual states and provides funding to state programs that offer financing and technical assistance to small businesses. (VSBFA) is the eligible entity that will apply for SSBCI 2.0 funds. Directory of State of Nevada Employees and Elected Officials with phone numbers, emails and general information. SSBCI 1.0 was passed in 2010 and ran from 2011 to 2017. For more information, please visit the U.S. Department of the Treasury's website. *Please note that the PDF version of the Application Instructions below is not the application and should not be filled out or sent to Treasury. System inputs must be in the proper format. Lenders looking to participate in the SSBCI program will undergo a vetting process. In September 2022, DEO announced the approval of the state SSBCI application by the United States Department of the Treasury (U.S. Treasury) for $488 million in funding. 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. Overview - Indiana An ACH routing number is required. The State of Georgia application to the U.S. Treasury was approved and the allocation agreement executed in December 2011. 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. It seems the federal government offers loan guarantees and funds to states, who in turn offer loans processed by banks and credit unions. Trafficking What is the last day I can apply for the Technical Assistance Grant Program? SSBCI - California Infrastructure Economic Development Bank (IBank) Kentucky Small Business Credit Initiative - Kentucky SBDC Housing Choice Voucher Program (formerly known as Section 8), Georgia Balance of State Continuum of Care (BoS CoC), GHFA Permanent Supporting Housing (formerly known as Shelter Plus Care) (PSH), Homeless Management Information System (HMIS), Housing Opportunities for Persons with AIDS (HOPWA), HUD 811 Project Rental Assistance Program (HUD 811), Reentry Partnership Housing Program (RPH), State Housing Trust Fund for the Homeless (HTF), Community Development Block Grant Disaster Recovery Program (CDBG-DR), Community Development Block Grant Coronavirus (CDBG-CV), Community Development Block Grants (CDBG), Downtown Development Revolving Loan Fund (DDRLF), Regional Economic Business Assistance (REBA), State Small Business Credit Initiative (SSBCI), Regional Economic Assistance Program (REAP), Construction Codes and Housing Development, Georgia Initiative for Community Housing (GICH), HOME Investment Partnership Program (HOME), Governing Statutes, Regulations, and Guidance, Government Management Indicators (GOMI) Survey, Report of Local Government Finance (RLGF), Georgia Commission for Service and Volunteerism, Georgia SBCG (Small Business Credit Guaranty), History - State Small Business Credit Initiative, Georgia Department of Economic Development, University of Georgia Small Business Development Center, CDFIs Engaged in Small Business Lending in Georgia, How do I make a GORA "open records" request, Popular 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. State Small Business Credit Initiative: Big Help for Small Business The SSBCI program allocates nearly $10 billion to states, the District of Columbia, territories, and Tribal governments to increase access to capital and . Responses are due November 3, 2022. Applications to become a subrecipient will be accepted until January 14 . Continue with Recommended Cookies. How do I report them? It allowed states to design and implement programs to accommodate various business needs. The new bill has allocated $10 billion to the State Small Business Credit Initiative (SSBCI), which provides fundingthrough lendersto support small businesses (defined as those with under 500 employees) and nonprofits to expand economic opportunities. And find a statewide network of centers staffed by people who can walk you through how to apply. 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. 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. No action is required if you have an existing and active registration in SAM.gov. Please verify that you are supplying the information in the correct format. Treasury will review complete applications as quickly as possible, in the order in which they are received. What Entities are eligible for the Technical Assistance Grant Program? Information and updates will beshared on this website. 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. Maine Economic Recovery Grants Do I really have to provide ID.me with my personal information? 2.2. The funding will be distributed through various existing business lending programs, including MSBDFA, which received $45 million. $100 million of that amount has been transferred to MBDA to assist with this effort. Manage Settings The $10 billion will be distributed in the following manner: States can then use the following small business financing programs to disperse the SSBCI funds: Also known as SSBCI 2.0, the second iteration of this program maintains the initial goals of the 2010 version. The U.S. Treasury has awarded $1.181 billion in SSBCI 2.0 funds to California, divided equally between CPCFA and IBank. Congress appropriated $1.5 billion to the Initiative. 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. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. The Georgia Small Business Credit Guaranty (SBCG) Program provides a 50% credit guaranty to the lender on loans up to $400,000. For more information, please visit the U.S. Department of the Treasury's website. Note: The State of Texas is currently awaiting SSBCI application approval from the U.S. Department of the Treasury. The first time you click a SIGN or INITIAL field, you are asked to adopt a signature and initials. 2011 State Small Business Credit Initiative Application SSBCI provides Eligible Jurisdictions funding for: For more information, visit the program website at Treasury.gov/SSBCI. PDF State Small Business Credit Initiative: Implementation and Funding Issues 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). Notice, Credit enhancements to strengthen bank loans and reduce risk, Delegated lending model where lenders manage underwriting, Streamlined procedures and quick response to project loan requests. SSBCI - FloridaJobs.org 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. of Treasury has released funds to somestates/territories, it is a rolling process. 2.4. New York State Small Business Revolving Loan Fund Round 2. It also provides technical assistance to small businesses applying for SSBCI funding. 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. 2.8. If the Finish button is not appearing, it is due to one or more incomplete required fields. 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. All lenders seeking approval as participating lenders in the SSBCI programs must undergo a vetting process whereby the State will evaluate the lender on management and lending experience as well as financial capacity and ability. Small Business Initiatives - Enterprise Florida The large increase to $10 billion is due to the success of the program, which is considered one of the more successful mechanisms for delivering capital from a federal source. LOUISIANA VETERANS FIRST BUSINESS INITIATIVE. The Treasury Portal supports most modern browsers including Microsoft Edge, Google Chrome, and an updated version of Safari. The U.S. Department of the Treasury has launched the 2021 State Small Business Credit Initiative (SSBCI) portal. 4.3. For more information on allocations and allocation methodology, please visit the State Small Business Credit Initiative website at Treasury.gov/SSBCI. Business Pandemic Recovery Initiative | Empire State Development 6.1. American Rescue Plan: What Is It? How Will it Affect Your Business? | Gusto 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. Tribal Governments must submit their completed SSBCI TA Grant Program application by December 9, 2022 at 11:59 pm ET. My entity does not have a UEI number. The second-round application period for this grant is open until May 25. 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. New York State Small Business Credit Initiative (SSBCI) Please refer to help.id.me for more details on that process. For more information, please visit Treasury.gov/SSBCI. Businesses will apply for funding through their local economic development organization. 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 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. If you have all the required documents, the process should take only a few minutes. 4.2. 2.3. Documents and resources from the 2010 SSBCI Allocation which operated from 2011-2017 can be found at2010-2017 Archive. 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. Ohio initially will receive $52.4 million to support socially and economically disadvantaged individuals and very small businesses. 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. We recommend you review their webpage for full instructions. IBank is the lead applicant and they have signed an allocation agreement with U.S. Treasury. If not, you can change them as needed. All rights reserved. Our mission is to bring you "Small business success delivered daily.". Some of our partners may process your data as a part of their legitimate business interest without asking for consent. 4.1. The State Small Business Credit Initiative (SSBCI) The result was 190,000 jobs that were created or retained because of the support. IBank is the lead applicant and they have signed an allocation agreement with U.S. Treasury. (updated. Our mission is to improve the quality of life for Pennsylvania citizens while assuring transparency and accountability in the expenditure of public funds. The initiative features a newly developed refinancing mechanism to strengthen Community Development Financial Institutions lending to small business. $10 BILLION SSBCI STATE FUNDING FOR SMALL BUSINESS - YouTube 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 . 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. The Small Business Jobs Act of 2010 (the "Act") was signed into law on September 27, 2010. If you are registered in SAM.gov, your UEI number has already been assigned and is viewable in your SAM.gov account. Treasury Announces Approval of Up to $353.4 Million to Support Small The portal will provide access to $10 billion, which is made possible by the American Rescue Plan Act of 2021. Financial support for small business across states. 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. Nevada has become the first state in the U.S. to launch a novel microloan program under the federal State Small Business Credit Initiative (SSBCI). What Entities are eligible for the Capital Program? When logged into the Treasury Portal, click on the Avatar in the top right-hand corner of the screen. Before the end of the year, MBDA plans to . 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. This document contains answers to frequently asked questions regarding the Department of Treasury State Small Business Credit Initiative (SSBCI). 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. U.S. Treasury is in the process of accepting applications for SSBCI 2.0 Technical Assistance. We're here to help New York State's small businesses reimagine, rebuild and renew. For further assistance, reach out to support.docusign.com. 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. 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. The Small Business Jobs Act of 2010 (the "Act") was signed into law on September 27, 2010. Notice and Request for Information-State Small Business Credit Documents, timelines, and other resources related to the 2021 allocation of the SSBCI program can be accessed here2021 Archive. Community Development Financial Institutions engaged in small business lending in Georgia. / How do I reset my password? 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. Im trying to do something in the Treasury Portal and its not working. 4.5. For the latest, follow us on Google News. 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. Phone: (615) 741-1888 SSBCI - oklahoma.gov 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). State Small Business Credit Initiative (SSBCI) What steps do I need to complete in ID.me? CDFA's SSBCI Resource Center is the central source for announcements, events, and information related to the SSBCI program. Localizing the State Small Business Credit Initiative Please reference the website at Treasury.gov/SSBCI for more information. All applications must be submitted electronically through the Treasury Portal at Portal.Treasury.gov/cares. If you would like to change your name or initials, type the changes in the Full Name and Initials fields. 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. Why am I unable to log in? With SSBCI 2.0, the program will have $10 billion available for creating specialized small business access to capital programs. 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. 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). View complete set of self-service resources. As a part of the federal American Rescue Plan Act (ARPA), the federal government passed the State Small Business Credit Initiative (SSBCI) bill to fund small business credit support and investment programs. GHFA EDFI/Georgia Department of Community Affairs (DCA) is the administrator of the program. Connecticut extends a big welcome to small businesses across a wide array of sectors. Their website is fsd.gov and you can also call them at 866-606-8220 from 8am - 8pm EST. If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page.. Per the agreement, the oversight with the U.S. Treasury expired on March 31, 2017. What Is the California Paid Sick Leave Law? | Gusto March 31, 2023- Applications for SSBCI technical assistance funding from Tribal governments are due (application materials). 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. 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. 4.7. Please contact our officeto obtain an application package. Email: ecd.SSBCI2.0@tn.gov, Go to Economic & Community Development (ECD), is administering a second installment of the. Preliminary allocations were determined in advance by Treasury. 3.3. Select the Settings link. 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. State Small Business Credit Initiative (SSBCI 2.0), Application submitted Februarury 11, 2022, awating final approval. From there, click the Start an Application button located on the top, right-hand corner of the page and follow the instructions. Home ->> CPCFA ->> State Small Business Credit Initiative, Please send program inquiries to ssbci@treasurer.ca.gov. This will be evaluated by the state to determine management, lending experience, financial capacity, and ability. If the email is still not found, Users can trigger the email to be resent from within the Treasury Portal. State Small Business Credit Initiative (SSBCI 2.0) - Tennessee Entities are able to manage organizational information, such as legal business name and physical address associated with a UEI number, directly from SAM.gov. The consent submitted will only be used for data processing originating from this website. Additional Information Businesses will apply for funding through their local economic development organization. "Small Business Trends" is a registered trademark. 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. Why do I need to sign up at SAM.gov? On April 4, 2022, the Federal Government transitioned from the DUNS number issued by Dun and Bradstreet to the Unique Entity Identifier (UEI). 3.9. The Act created the Small Business Lending Fund (SBLF) program administered by the Department of the Treasury (Treasury) to make capital investments in eligible institutions to increase the availability of credit for small businesses. We believe that access to loan capital is a fundamental component of an equitable, vibrant, and growing economy. PA State Small Business Credit Initiative (PA-SSBCI) Program Guidelines 4.9. Ohio Capital Access Program (OCAP) 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.