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CDFA SSBCI Update - April 13, 2021

SSBCI Update
April 13, 2021
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CDFA SSBCI Update

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Subscribe to CDFA's SSBCI Update Newsletter
CDFA is launching a monthly SSBCI Update Newsletter to provide you with regular updates on SSBCI as additional guidance and regulations are released. Subscribe now to this free offering from CDFA to keep receiving related content in the future!

Treasury Department Publishes SSBCI Preliminary State Allocations
During Friday's SSBCI Briefing, the U.S. Department of the Treasury announced that the preliminary state allocation amounts for the SSBCI program have been published. The information can be found on the CDFA SSBCI Resource Center and the newly-updated SSBCI page on Treasury's website.

Key Deadlines Released for SSBCI Program
Treasury published allocation amounts available to each state, territory, and Washington, DC on April 9 during CDFA's SSBCI Briefing. The Notice of Intent to Apply (NOI) is due on May 10 for states, territories, and Washington, DC. NOI forms have been emailed to eligible applicants. Let CDFA know once your state has sent in its NOI!

Washington Has Supplied the Dollars to Save Small Businesses, but Local Leaders Need to Supply the Strategy
Small business stabilization is a central plank in the nation's economic response to COVID-19. Over the last 12 months, the federal government has provided $932 billion in small business loans and advances—a scale that is without precedent. Between ongoing federal relief programs, flexible local funds, and the state-controlled SSBCI initiative, it is going to take smart federalist approaches—organized locally—to support an inclusive small business recovery.

American Rescue Plan Provides Massive Funding to Tribes for Small Business Credit Support and Investments
Tucked in Title III, Section 3301, of the American Rescue Plan Act is the resurrection of the State Small Business Credit Initiative (SSBCI) program. Included in this resurrection is the addition of tribal governments to the SSBCI, with a direct appropriation of $500 million for tribal governments to begin economic recovery for tribal small businesses, including tribal-owned and tribal member-owned businesses.

CDFA SSBCI Coalition: Your On-Ramp for Maximizing the New SSBCI Program
Join CDFA to become a member of the SSBCI Coalition today. In addition to the many benefits provided through CDFA membership, you will be able to participate in SSBCI Briefings, join SSBCI webinars, access materials in the SSBCI Resource Center, receive discounts on future SSBCI events, and more.

CDFA Launches SSBCI Resource Center
The CDFA SSBCI Resource Center is the central source of information, data, analytics, and programs related to the SSBCI program. As more guidance and regulations on SSBCI 2.0 are released, the CDFA SSBCI Resource Center will be routinely updated.

CDFA to Host SSBCI Briefings
All interested stakeholders are encouraged to register for CDFA's SSBCI Briefings to learn more about this tool and its implementation at the local level. CDFA Members receive a significant discount to participate in these Briefings. SSBCI Briefings will be held every other Friday at 1:00 PM Eastern from April to July.

Upcoming Events
Intro Opportunity Zones Finance WebCourse

CDFA SSBCI Briefing
Friday, April 23, 2021 - 1:00 PM - 2:00 PM Eastern

CDFA SSBCI Briefing
Friday, May 7, 2021 - 1:00 PM - 2:00 PM Eastern

SSBCI Headlines

New Hampshire Prepares to Receive Billions from Latest Federal COVID Relief Package
New Hampshire Public Radio | Apr. 12 | Access to Capital | Disaster Recovery & Relief | State Finance Program | State Small Business Credit Initiative (SSBCI) | COVID-19

Tennessee's Chance to Share in Nation's $10B SSBCI Initiative Due Soon
Venture Nashville | Apr. 9 | Access to Capital | State Small Business Credit Initiative (SSBCI)

New Additions to the Online Resource Database

American Rescue Plan: Federal Investment Guide
Access to Capital | Agriculture Finance | Brownfield Financing | Community Development | Disaster Recovery & Relief | Economic Development | Education | Energy Finance | Food Systems Finance | Healthcare | Housing Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Rural Development | Social Finance | Urban Development
This report from Drexel University's Nowak Metro Finance Lab provides a guide to federal funding in the American Rescue Plan (ARP). The authors place a special emphasis on formula funds received by local anchors, competitive grants, and funds distributed to public authorities that city leadership can leverage to boost their recovery. They clarify which entities are responsible for applying for grant funds, when funding expires, and what role city and county leadership can play even when they will not be the primary applicant for funds.

Summary of State and Local Funding Sources in the American Rescue Plan
Access to Capital | Agriculture Finance | Brownfield Financing | Community Development | Disaster Recovery & Relief | Economic Development | Education | Energy Finance | Food Systems Finance | Healthcare | Housing Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Rural Development | Social Finance | Urban Development
This table includes all the federal-to-local funding streams in the American Rescue Plan that reach cities and their residents. It does not include appropriations to Tribal Governments or Agency appropriations focused on program operations at the federal level with no further sub-allocation. It is a dynamic summary to be paired with the Federal Investment Guide produced by Accelerator for America, Drexel University, and the US Conference of Mayors.


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


Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net

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