Join CDFA and guest speakers from The Choctaw Nation and gener8tor on March 11, 2022 for a discussion on how Tribal Governments can utilize the State Small Business Credit Initiative (SSBCI) program and efforts to support their strategies. Registration is free!

Aging infrastructure and associated rising maintenance and repair costs are among the many transportation infrastructure-related challenges that communities face today. Don't miss this free installation in the Infrastructure Finance Series - presented by CDFA in partnership with Frost Brown Todd LLC and its affiliate FBT Project Finance Advisors LLC - where speakers analyze how to finance highways, bridges, parking, rail systems, airports, and shipping ports.

Missouri was once a leader in using taxpayer dollars to stimulate investment in innovative companies. Thanks to $94.9 million in federal money, it has a chance to make up for five years of lost momentum. The SSBCI funding, from last year's American Recovery Program Act, offers hope that MTC can once again be a catalyst for dozens of promising startups each year.

Governor Hochul announced her plan for the State to partner with CDFIs to deliver more than $150M of funding to small businesses most in need, upon federal approval of the State's plan. This is part of the Governor Hochul's budget which proposed an unprecedented assistance package for small businesses that includes over $500M to New York State through the federal State Small Business Credit Initiative over the next several years.

Nearly $202 million in federal funding coming to North Carolina is planned to support small businesses throughout the state through lending initiatives and equity investments in venture capital funds. The NC Rural Center has been allocated this allotment of State Small Business Credit Initiative (SSBCI) funding to continue these programs by the US Treasury Department through the NC State Legislature's recently passed budget.

Nearly $202 million in federal funding coming to North Carolina is planned to support small businesses throughout the state through lending initiatives and equity investments in venture capital funds. The NC Rural Center has been allocated this allotment of State Small Business Credit Initiative (SSBCI) funding to continue these programs by the US Treasury Department through the NC State Legislature's recently passed budget.

In 2021 Congress reauthorized the SSBCI for the first time since it expired in 2017, injecting $10 billion for CDFIs to distribute funds to small businesses. The increase in funding toward CDFIs primarily benefits low-income and marginalized communities. Data show that 84 percent of CDFI customers are low-income, 60 percent are people of color, 50 percent are women, and 28 percent live in a rural area.

Small businesses in need of capital will get a leg up from the expanded State Small Business Credit Initiative (SSBCI), a Treasury Department program that received $10 billion in funding from last year's American Rescue Act. The aim is to expand access to capital for small businesses emerging from the COVID-19 pandemic, enhance opportunity and entrepreneurship, and create high-quality jobs, according to the Treasury Department.

CDFA // BNY Mellon Development Finance Webcast Series: Capitalization Strategies & Funding from the American Rescue Plan
Tuesday, March 15, 2022 - 2:00 PM - 3:00 PM Eastern

SSBCI Coalition Meeting - March 18 (Virtual)
March 18, 2022 - 1:00 PM - 2:00 PM Eastern

The U.S. Department of the Treasury launched a historic demographic information collection effort to measure equity outcomes for small businesses supported by the SSBCI program. The information collected by Treasury will support the program's commitment to expanding access to capital for businesses owned and controlled by SEDI businesses.

The Secretary of the Treasury is issuing this interim final rule to institute the reporting requirements related to demographics of those who own or control small businesses that receive a loan, investment, other credit or equity support, or technical assistance under the State Small Business Credit Initiative under the American Rescue Plan Act of 2021.

This document outlines the U.S. Department of the Treasury's State Small Business Credit Initiative (SSBCI) Frequently Asked Questions which were updated on March 2, 2022. Some of the questions answered in this document include the upcoming SSBCI Capital Program deadlines, the process for application approval, and when the applications will be reviewed.

This table provides helpful information regarding the incentive funding related to business enterprises owned and controlled by socially and economically disadvantaged individuals (SEDI). The columns contain the initial eligible amounts of the SEDI incentive funding that eligible jurisdictions may qualify for and the SEDI objectives, which is the percentage of SSBCI funds that eligible jurisdictions should aspire to expend to meet the needs of SEDI-owned businesses. For more information on the SEDI incentive funding, see Section IV of the Capital Program Policy Guidelines.

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