On September 27, the U.S. Department of the Treasury issued a Notice Regarding Applications for the State Small Business Credit Initiative (SSBCI). The notice provides information regarding the requirements and timeline for applications and pertains to funding for both Capital Programs and Technical Assistance. Key takeaways are noted on CDFA's SSBCI Fact Sheet and FAQs.

Module III of the SSBCI Learning Series will take place on October 22. Topics will include a deep-dive on Collateral Support Programs and Loan Participation Programs, tips on Private Financing through Financial Institutions and FinTech, and strategies for SEDI Businesses, Very Small Businesses, Rural Businesses, and Tribal Businesses.

18 Black entrepreneurs that run various businesses recently gathered to listen to Hope Credit Union Senior Credit Officer Danielle Ware and Vice President Dwight Rawls. Ware oversees the small businesses and commercial loans section for the organization. Mississippi Black Pages, a statewide platform for Black entrepreneurs to connect for exposure and development, organized the event.

Cities are currently grappling with how they should prioritize competing programs, initiatives, and ideas. SLFR funds are a once-in-a-generation opportunity and cities have to contend with balancing relief and recovery. While we can't observe the processes in every city, we pull out four emblematic examples that are at the forefront of emerging models of local recovery.

The fragile baseline in Western New York's entrepreneurial ecosystem pointed to the need for a dramatic and strategic shift using an injection of funds to accelerate change. This case study documents Open4—a unique philanthropic effort to catalyze systemic changes and help minority and women entrepreneurs realize their ambitions. While still in its formative stage, Open4's development process and structure offer lessons for other legacy cities and regions experiencing similar systemic challenges.

The past two years have challenged our nation like no other time in our history. From the COVID-19 pandemic, elections, and economic distress to the social, racial, and equity challenges facing many communities, our nation is looking for answers. The CDFA Virtual National Summit will take on these challenges and explore ways development finance can once again rise to the occasion.

CDFA // BNY Mellon Development Finance Webcast Series: Exploring Local Economy Preservation Funds
Tuesday, October 19, 2021 - 2:00 PM - 3:00 PM Eastern

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

SSBCI Coalition Meeting - November 12 (Virtual)
November 12, 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

This notice provides information regarding the requirements and timeline for applications for SSBCI funding. As described below, applications for SSBCI capital programs must be initiated by December 11, 2021, and be completed by February 11, 2022; applications for SSBCI technical assistance are due by March 31, 2022.

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