ServisFirst bank, located in Birmingham, AL, has been recognized by the U.S. Treasury as one of the most active users in the SSBCI program. The bank made 23 loans of $24.5M to small businesses in the last three years with the support of SSBCI.

President Obama released his final budget which includes a proposal to improve the targeting of SSBCI funding through competitive awards. The budget also proposes $1.5B for a second round of funding to increase the impact of states' relationships with lenders and investors from the program's first round.

Compliance Partners, a New Orleans based health care firm, is in line to receive $500,000 in seed money from the Louisiana Economic Development Corp (LEDC). The LEDC allows investment funds to leverage federal SSBCI funds to invest in early stage businesses in Louisiana.

This week will focus on the wide variety of capitalization options for small businesses in America with dedicated training, programming and resources available from CDFA. Attendees may choose from the Intro Revolving Loan Fund WebCourse on May 23-24 and the Seed & Venture Capital Finance WebCourse on May 25-26.

IL State Rep. Dan Beiser and the Riverbend Growth Association held a seminar with hopes of closing the gaps between small business owners needs and what the banks are willing to loan. Advantage Illinois, an SSBCI program, was presented during the seminar. As of January 2015, Advantage Illinois has invested more than $635 million in small businesses and venture projects throughout the state.

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The Rural Financing Best Practices by CDFA explores how rural communities can leverage a wide range of tools and approaches to build on their assets, protect their resources, and make strategic investments that offer long-term benefits for residents and local businesses.

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