CDFA is launching a monthly SSBCI Update Newsletter to provide you with regular updates on SSBCI as additional guidance and regulations are released. Subscribe now to this free offering from CDFA to keep receiving related content in the future!

The CDFA SSBCI Resource Center is the central source of information, data, analytics, and programs related to the SSBCI program. As more guidance and regulations on SSBCI 2.0 are released, the CDFA SSBCI Resource Center will be routinely updated.

Join CDFA to become a member of the SSBCI Coalition today. In addition to the many benefits provided through CDFA membership, you will be able to participate in SSBCI Briefings, join SSBCI webinars, access materials in the SSBCI Resource Center, receive discounts on future SSBCI events, and more.

All interested stakeholders are encouraged to register for CDFA's SSBCI Briefings to learn more about this tool and its implementation at the local level. CDFA Members receive a significant discount to participate in these Briefings. SSBCI Briefings will be held every other Friday at 1:00 PM Eastern from April to July.

The Economic Innovation Group (EIG) applauds the inclusion of the State Small Business Credit Initiative (SSBCI) in the American Rescue Plan Act of 2021. The reauthorization of SSBCI is a major step forward in recognizing the economic challenges faced by underserved communities and restoring entrepreneurial activity across the country.

Tucked in Title III, Section 3301, of the American Rescue Plan Act is the resurrection of the State Small Business Credit Initiative (SSBCI) program. Included in this resurrection is the addition of tribal governments to the SSBCI, with a direct appropriation of $500 million for tribal governments to begin economic recovery for tribal small businesses, including tribal-owned and tribal member-owned businesses.

The American Rescue Plan Act was signed into law on March 11. The legislation includes several initiatives that could strengthen regional innovation economies. Most notable among these is the $10 billion State Small Business Credit Initiative (SSBCI), $3 billion for the Economic Development Administration (EDA), and $350 billion for state and local government relief.

President Joseph Biden signed the American Rescue Plan Act of 2021 on March 11, which provides $1.9 trillion in relief funds across a broad spectrum of categories. Among the most notable takeaways is the reauthorization of the State Small Business Credit Initiative (SSBCI), which expired in 2017.

CDFA SSBCI Briefing
Friday, April 9, 2021 - 1:00 PM - 2:00 PM Eastern

CDFA SSBCI Briefing
Friday, April 23, 2021 - 1:00 PM - 2:00 PM Eastern

CDFA SSBCI Briefing
Friday, May 7, 2021 - 1:00 PM - 2:00 PM Eastern

SSBCI was signed into law as part of the American Rescue Plan Act of 2021. CDFA hosted this National SSBCI 2.0 Call serving as an interface between Treasury and stakeholders during the rulemaking process. On March 26, 2021, we discussed insights and recommendations to Treasury and our understanding of what resources need to be developed.

SSBCI was signed into law as part of the American Rescue Plan Act of 2021. CDFA hosted this National SSBCI 2.0 Call with interested stakeholders on March 11, 2021, to discuss SSBCI 2.0. We discussed key SSBCI 2.0 questions and timelines. We also discussed CDFA's plans for SSBCI education and future engagement. Several states spoke about their efforts to re-launch SSBCI programming.

This interactive data tool from the Federal Reserve Bank of St. Louis shows total SSBCI investments, percent of investments in LMI and rural areas, investments by MSA, investments by loan programs, CDFIs, and more.

This CRS report examines the SSBCI program and its implementation, including Treasury's response to initial program audits conducted by the U.S. Government Accountability Office and Treasury's Office of Inspector General. These initial audits suggest that SSBCI participants are generally complying with the statute's requirements but that some compliance problems exist.

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