The Wyoming Business Council (WBC) recently submitted the initial application to the federal Treasury for the SSBCI on behalf of the State of Wyoming. This funding will not be dispersed in the form of grants, rather it will be in the form of debt and equity assistance. WBC will submit the final SSBCI application in February and provide more program details once Wyoming has an approved application.

CDFA hosted this public briefing on November 22, 2021 to provide an overview of the new SSBCI Capital Program Policy Guidelines as well as application timelines and requirements. CDFA along with representatives from Treasury discussed key provisions in the updated guidance and fielded questions from attendees.

Tribal governments may use SSBCI funds to support eligible small business financing in any eligible manner it chooses. This includes supporting small businesses on Tribal lands, small businesses in states where Tribal lands or Tribal citizens are located, and small businesses owned by the Tribe and Tribal citizens, wherever they are located.

Intro Bond Finance Course
February 14-15, 2022 - Daily: 12:00 - 5:00 PM Eastern

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

The deadline for Tribal governments to submit a notice of intent (NOI) to apply for SSBCI funds was December 11, 2021. This document includes the list of Tribal governments that submitted an NOI by this deadline. In addition to submitting an NOI, Tribal governments must submit a complete capital application that is approved by Treasury before they can receive SSBCI funds.

Transitioning businesses to employee ownership has the potential to significantly reduce the overall wealth gap as well as the racial equity gap. But it will take capital investment to scale.

On December 15, 2021, the U.S. Department of the Treasury issued this updated FAQ documents for the State Small Business Credit Initiative (SSBCI).

SSBCI 2.0 is an ambitious renewal (and dramatic scaling) of an Obama-era small business program that poses unique opportunities and challenges to our nation's capital delivery systems. This resource outlines three strategies for deploying SSBCI 2.0 for maximum impact: Strengthen and build capital delivery systems across geographies, deliberately focus on reaching and scaling underserved entrepreneurs, and spur virtuous cycles of innovation through venture capital programs.

>>> EXPLORE SSBCI RESOURCE CENTER