Module II of the SSBCI Learning Series takes place on Friday, September 24. Sessions will include a Program Deep-Dives on Venture Capital Programs, Capital Access Programs, and Loan Guarantee Programs. It will also discuss strategies for leveraging Private Financing through Venture Capital and Angel Investments, as well as Community Development Financial Institutions and Impact Investors.

CDFA will host a free discussion as soon as Treasury posts guidance, forms, and other resources with information about the 2021 SSBCI program. Stay tuned to CDFA and be informed as soon as application materials are available.

After a second pandemic summer, this Labor Day feels unique, says Alison Lingane, co-founder of Project Equity, a nonprofit that supports the transition of businesses to employee ownership. "As a society, we've come to understand in the last year and a half that people who do 'essential' work are barely surviving." Project Equity and its partner Mission Driven Finance, an impact investment firm, used Labor Day to announce the launch of the Employee Ownership Catalyst Fund.

This report, updated in April 2021, examines the SSBCI and its implementation, including Treasury's response to initial program audits conducted by the U.S. Government Accountability Office (GAO) and Treasury's Office of Inspector General (OIG). These initial audits suggest that SSBCI participants generally met the statute's requirements, but there were some compliance problems.

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. SSBCI 1.0 was passed in 2010 and ran from 2011 to 2017. Tennessee's plan uses a three-phase approach: the Discover phase, the Design phase, and the Deploy phase.

In Colorado, SSBCI funds will be administered by the Colorado Office of Economic Development and International Trade (OEDIT) in alignment with the Governor's Office. OEDIT is providing a preliminary set of possible uses to help generate stakeholder feedback on how the funds should be used and the program designed. OEDIT will continue to incorporate stakeholder feedback into the program.

As Michigan develops its application and designs small business capital and technical assistance programs through an inclusive and equitable lens, the State invites the public to provide information and feedback in order to support new and existing small businesses.

The funding will allow the state of Florida to design and implement credit programs to address specific capital market needs, which will provide Florida's small businesses with additional resources and capital to facilitate business growth and economic development. Specific guidelines and allocations will be determined for socially and economically disadvantaged businesses.

SSBCI Learning Series - Module II
September 24, 2021 - 1:00 PM Eastern

SSBCI Coalition Meeting - October 8 (Virtual)
October 8, 2021 - 1:00 PM Eastern

SSBCI Learning Series - Module III
October 22, 2021 - 1:00 PM Eastern

SSBCI Learning Series - Module IV
November 19, 2021 - 1:00 PM Eastern

SSBCI Coalition Meeting - December 3 (Virtual)
December 3, 2021 - 1:00 PM Eastern