CDFA SSBCI Update - February 13, 2024
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| Features |
CDFA Launches the 2024 SSBCI Learning Series
CDFA has launched the 2024 SSBCI Learning Series to help you stay informed and navigate the implementation and operations of the State Small Business Credit Initiative (SSBCI) capital and technical assistance programs. Beginning March 12, this year's SSBCI Learning Series comprises five sessions that will cover strategies for marketing and outreach, leveraging the Greenhouse Gas Reduction Fund, and increasing SSBCI impacts in every community.
Missouri Invests $2.2M in SSBCI Funds in St. Louis Startups
Missouri Technology Corp. (MTC) has committed funding to three St. Louis-based startups in its newest batch of venture capital investments. MTC said this week it has awarded $2.2 million in equity funding to seven startups, three of which are based in the St. Louis region. Funding was made possible by the State Small Business Credit Initiative (SSBCI).
Applications Now Open for the 2024 Caren S. Franzini Fellowship
The Caren S. Franzini Fellowship was created to develop and recognize outstanding women in the field of development finance for their leadership and dedication to the advancement of the industry. This 6-month fellowship program, run through the CDFA Foundation, is open to women employed by a CDFA member organization who have worked in the development finance industry for less than 10 years. Apply by Friday, March 15!
Vermont Announces $29M in SSBCI Venture Capital Investments
The state of Vermont announced the first round of Venture Capital Program investments from Vermont's State Small Business Credit Initiative (SSBCI). The Venture Capital Program is allocating nearly $29 million to venture capital funds. Funding will be distributed to seed fund investments that leverage accelerator programs to make small investments in rural, pre-seed stage companies and to technology innovation companies in the healthcare sector.
The CDFA Federal Policy Conference is back!
CDFA is excited to host the 2024 Federal Policy Conference on April 2-3 in Washington, D.C.! The conference will include sessions featuring the SSBCI, the 2024 Farm Bill, clean energy and infrastructure investments, the 2024 election, and much more. Join federal agency and development finance industry experts and leave with a better understanding of the tools, resources, and regulatory changes impacting the entire federal development finance spectrum. Register today!
Pennsylvania Boots Tech Startups With $3M SSBCI Investment
The Pennsylvania Department of Community and Economic Development (DCED) has announced a $3 million investment of State Small Business Credit Initiative (SSBCI) funds in two venture capital firms. Sana Capital Fund I, LP, established by Sana Capital Partners, LLC, will receive $2 million and aims to improve healthcare access and quality of care for underprivileged individuals. Science Center Health Fund, LLC, which plans to invest in early-stage healthcare and med-tech companies, will receive $1 million.
Coming Up Next Month: CDFA's Intro and Advanced Bond Finance WebCourses
Join CDFA for our upcoming Bond Finance Week! The Intro Bond Finance WebCourse will take place on March 4-5 followed by the Advanced Bond Finance WebCourse on March 6-7. Register for one or both of these courses to learn from experts about how to bring economic growth to your community by utilizing the vast resources of the bond finance industry.
Maryland Selects 100KM Ventures to Manage SSBCI Venture Capital Fund
TEDCO, Maryland's economic engine for technology companies, selected 100KM Ventures as one of the early-stage venture capital fund managers supporting the management and investment of up to $10 million in State Small Business Credit Initiative (SSBCI) funding. 100KM Ventures is a venture capital company dedicated to investing in early-stage, diverse management teams focused on building the next generation of great technology companies addressing untapped customers across the Future of Work and Women's Health.
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| Upcoming Events |
SSBCI Coalition Meeting - Virtual
February 23, 2024 - 1:00 PM - 2:00 PM Eastern
CDFA hosts monthly SSBCI Coalition meetings to provide SSBCI updates and facilitate discussions that allow for networking, peer knowledge sharing, and problem-solving. The SSBCI Coalition is available to CDFA Members only. There is no cost to attend SSBCI Coalition meetings.
2024 CDFA Federal Policy Conference
April 2-3, 2024 - Washington, D.C.
On April 2-3, 2024, the Council of Development Finance Agencies (CDFA) will host the 2024 CDFA Federal Policy to convene the most influential leaders from the Biden administration, Congress, federal agencies, nonprofit organizations, think tanks, and state and local finance agencies. These leaders will discuss the latest and most pressing federal legislative and policy developments, as well as the impacts of 2024's Presidential and Congressional elections. This two-day, information-packed conference is the most important federal event of 2024. Don't miss out!
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| SSBCI Headlines |
Toby Rittner Featured in The Bond Buyer, Discussing Bonds & TIF to Support Casino Development in Aurora, IL
The Bond Buyer | Feb. 12 | Bond Finance | Redevelopment | Tax Increment Finance (TIF)
Forbes Highlights SSBCI's Small Business Opportunity Program Competition
Forbes | Jan. 24 | Access to Capital | Disaster Recovery & Relief | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury
Update on Treasury's Approach to Equitable Community Finance
U.S. Department of the Treasury | Jan. 16 | Energy Finance | Federal | Housing Finance | Social Finance | State Small Business Credit Initiative (SSBCI) | Tax Credits
Virginia Invests SSBCI Funds in EV Charging Network Planning
EIN Newswires | Jan. 16 | Access to Capital | Disaster Recovery & Relief | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury | Treasury State Small Business Credit Initiative (SSBCI)
President Biden Highlights SSBCI's Positive Impacts in Pennsylvania
The White House | Jan. 12 | Access to Capital | Disaster Recovery & Relief | State Finance Program | U.S. Dept. of Treasury
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| New Additions to the Online Resource Database |
U.S. Department of the Treasury Provides SSBCI Quarterly Update
Access to Capital | Disaster Recovery & Relief | Economic Development | State Small Business Credit Initiative (SSBCI)
On January 31, 2024, the U.S. Department of the Treasury provided a quarterly all-jurisdiction update for the State Small Business Credit Initiative (SSBCI).
SSBCI Small Business Opportunity Program FAQ, Updated January 24, 2024
Access to Capital | Disaster Recovery & Relief | Economic Development | State Small Business Credit Initiative (SSBCI)
On January 24, 2024, the U.S. Department of the Treasury published updated FAQs for the State Small Business Credit Initiative (SSBCI) Small Business Opportunity Program (SBOP).
State Small Business Credit Initiative FAQs, Updated January 19, 2024
Access to Capital | Disaster Recovery & Relief | Economic Development | Innovation Finance | State Small Business Credit Initiative (SSBCI)
On January 19, 2024, the U.S. Department of the Treasury published an updated FAQ document for the State Small Business Credit Initiative (SSBCI). The update concerns questions about a jurisdiction's venture capital fund program.
SSBCI Small Business Opportunity Program Application Template
Access to Capital | Disaster Recovery & Relief | Economic Development | State Small Business Credit Initiative (SSBCI)
On January 11, 2024, the U.S. Department of the Treasury Published a draft template for the State Small Business Credit Initiative Investing in America Small Business Opportunity Program (SSBCI Investing in America SBOP).
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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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Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net
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