CDFA SSBCI Update - December 14, 2021

SSBCI Update
December 14, 2021

Features

Treasury Issues State Small Business Credit Initiative Program Implementation Guidance

On November 10, the U.S. Department of the Treasury issued capital program implementation guidance for the State Small Business Credit Initiative (SSBCI) Program. The new version of the program will provide a combined $10 billion to states, the District of Columbia, territories, and Tribal governments to empower small businesses to access capital needed to invest in job-creating opportunities as the country emerges from the pandemic.

CDFA's Analysis of Capital Program Policy Guidelines for the State Small Business Credit Initiative

CDFA's analysis of the November 2021 SSBCI Capital Program Policy Guidelines is meant to provide a high-level overview of key provisions and is not comprehensive of all updates and changes to the April 2014 policy guidelines.

2021 State Small Business Credit Initiative (SSBCI) Application Material

Treasury has posted documents and resources for the 2021 SSBCI program application. An online application portal will become available in the coming days.

State Small Business Credit Initiative Capital Program Policy Guidelines - November 2021

On November 10, 2021, the U.S. Department of the Treasury issued capital program implementation guidance for the State Small Business Credit Initiative (SSBCI).

SSBCI General Info Fact Sheet - November 2021

On November 10, 2021, the U.S. Department of the Treasury issued capital program implementation guidance for the State Small Business Credit Initiative (SSBCI) as well as this Fact Sheet containing general info on the program.

Minority Business Development Agency Permanently Authorized in Infrastructure Deal

U.S. Secretary of Commerce Gina M. Raimondo is pleased to announce that the U.S. Department of Commerce Minority Business Development Agency (MBDA) is made permanent and will be expanded and elevated with the passage of this historic legislation. This action allows the agency to increase its programs and outreach to the Nation's more than 9 million minority-owned businesses.

Upcoming Events

Intro Revolving Loan Fund WebCourse
March 28-29, 2022 - Daily: 12:00 - 5:00 PM Eastern

The Intro Revolving Loan Fund Course offers an in-depth look at RLF program development, implementation, and management. This course demonstrates how an RLF program can complement your economic development strategy, encourage investment, and assist traditionally underserved businesses. During this course, attendees learn the essential elements needed to operate a successful RLF program and discuss programs making a difference in communities throughout the country.

Advanced Revolving Loan Fund Course
March 30-31, 2022 - Daily: 12:00 - 5:00 PM Eastern

The Advanced Revolving Loan Fund Course builds on CDFA's Intro RLF Course by providing in-depth instruction on loan underwriting and portfolio management. Topics discussed during this course include analyzing borrower documents, performing financial analysis, and making loan decisions based on the mission and lending criteria of your RLF. In addition, attendees will learn principles for analyzing loan performance, balancing portfolio risk through borrower and industry diversity, and smartly managing RLF proceeds to create new lending programs. Given the advanced curriculum for this course, it is expected that attendees will already have some basic education about how revolving loan funds operate and have previously participated in underwriting loans.

New Additions to the Online Resource Database

Promoting Employee Ownership Through SSBCI
Access to Capital | Crowdfunding | Economic Development | Social Finance | State Small Business Credit Initiative (SSBCI)

The Employee Ownership Expansion Network and Ownership America gave this presentation on how the State Small Business Credit Initiative (SSBCI) can be used to promote employee ownership of small businesses.

SSBCI Implementation Guidance Highlight Summary and Reader's Guide - gener8tor
Access to Capital | Economic Development | Innovation Finance | State Small Business Credit Initiative (SSBCI)

Gener8tor produced this summary/reading guide of the SSBCI guidance that the U.S. Department of the Treasury released on November 10, 2021.

This white paper from gener8tor discusses the importance of supporting underrepresented founders and underinvested business sectors (i.e. music, art, child care).

SSBCI Programs Fact Sheet - November 2021
Access to Capital | Economic Development | Innovation Finance | State Finance Program | State Small Business Credit Initiative (SSBCI)

This November 2021 Fact Sheet from the U.S. Department of the Treasury discusses the five types of SSBCI programs. The programs available under SSBCI are 1) Venture Capital Programs, 2) Loan Participation Programs, 3) Loan Guarantee Programs, 4) Collateral Support Programs, and 5) Capital Access Programs (CAPs).

SSBCI 2.0 Preliminary Allocation Table (Updated November 2021)
Economic Development | State Small Business Credit Initiative (SSBCI) | Access to Capital

This table identifies the funds allocated to states, territories, and the District of Columbia pursuant to the American Rescue Plan's 2021 updates to the State Small Business Credit Initiative. The table has been updated to provide additional details about Employment-Based Allocations and Very Small Business Allocations.

>>> EXPLORE SSBCI RESOURCE CENTER

The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private, and non-profit entities alike. For more information visit CDFA.net or email info@cdfa.net

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info@cdfa.net