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CDFA SSBCI Update - August 13, 2024

SSBCI Update
August 13, 2024
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CDFA SSBCI Update

Features

SSBCI Midwest Regional Conference Live Stream Plenary Session Registration is Open
Registration for the 2024 SSBCI Midwest Regional Conference Live-Stream plenary sessions is open through Friday, August 16, 2024. Register through the conference website, where you will find the agenda and additional details. The event is co-hosted in partnership with the Federal Reserve Banks of Kansas City, St. Louis, Chicago, and Dallas and the U.S. Department of the Treasury SSBCI Program.

Unlock Funding Opportunities: Join Our Greenhouse Gas Reduction Fund Readiness Workshop!
Join CDFA for an exclusive online workshop that will dive deep into the Greenhouse Gas Reduction Fund (GGRF) and its pivotal components, including the $14 billion National Clean Investment Fund (NCIF) and the $6 billion Clean Communities Investment Accelerator (CCIA). The GGRF Readiness Workshop will equip you with the knowledge and tools needed to navigate and leverage these significant funding opportunities effectively. Don't miss out on the chance to enhance your funding strategy and boost your project's success!

Brighton Business Wins Iowa EDA Award for Mobile App
The Iowa Economic Development Authority (IEDA) Board approved awards to five Iowa startups from Iowa's State Small Business and Credit Initiative (SSBCI) Innovation Fund. One of the businesses, The Agenda. Period Inc. developed a mobile app to better understand and navigate a woman's menstrual cycle. The platform tracks cycles and symptoms and provides resources to support hormonal health and overall well-being.

We Want to Hear from You! Help Identify Financing Tools for Missing Middle Housing
This year's class of CDFA Franzini Fellows is researching the various financing tools available for missing middle housing, affordable housing, and in particular, pocket neighborhoods. The Fellows are interested in learning about housing financing tools, as well as barriers and solutions to access to capital. By taking just a few minutes to complete this survey, you will lend your experience and industry knowledge to aid in the creation of systems and action plans that can be used for both developers and new homeowners. Thank you for your participation!

New Federal Appropriated Funds Strengthen Puerto Rico Venture Capital Programs
The Puerto Rico Economic Development Bank (EDB) received a $30 million allocation from the U.S. Treasury to expand the "Boost Your Business" programs of the State Small Business Credit Initiative (SSBCI). This will support the Puerto Rico Venture Capital Access Program (VCAP), which will be implemented with the support of the Puerto Rico Trust for Science, Technology, and Research.

Join CDFA for Our Upcoming Intro Tax Credit Finance Course
Register for CDFA's Intro Tax Credit Finance WebCourse, taking place on September 25-26. Join us in learning about the application of tax credit programs and their use in greater economic development finance efforts. Our panel of expert speakers will discuss tax credit programs, including new markets, low-income housing, historic preservation, and state-specific programs.

$83M Loan Program for Alaska Tribal, Small Businesses Approved by U.S. Treasury
Up to $83 million in federal funds have been approved for small business loans to be offered through a consortium of Alaska tribes. The funds are part of the U.S. Treasury's broader effort to support tribal economies, with up to $415 million being funneled into developing the economies of 220 tribes. Of that group, 125 tribes make up the consortium from Alaska.

Treasury Announces New Funding to Support Technical Assistance for Small Businesses
The U.S. Department of the Treasury announced the approval of plans for an additional $10 million in technical assistance (TA) funding allocated to four states, two territories, the District of Columbia, and one tribal government under the American Rescue Plan Act's State Small Business Credit Initiative (SSBCI) TA Grant Program. The program supports programs that provide legal, accounting, and financial advisory services to qualifying small businesses.

Upcoming Events
Intro Tax Credit Finance WebCourse

SSBCI Learning Series - Filling the Gaps with the Suite of SSBCI Technical Assistance Programs
September 3, 2024 - 2:00 - 4:00 PM Eastern
SSBCI 2.0 has provided three different sources of funding for a range of technical assistance. In this session, speakers will discuss how each program supports the other and explore best practices on how to maximize the impacts of each program.

CDFA-Bricker Graydon Webinar Series: Financing Green Energy with PACE and Special Assessments
September 10, 2024 - 2:00 PM - 4:00 PM Eastern
Communities are reinforcing tax increment financing (TIF) districts with special assessments and combining TIF with tax credits, tax-exempt bonds, subordinate loan programs, and other federal tools to channel funding toward improvements in distressed or underdeveloped areas. During this session, speakers will discuss the creative ways to use TIF and how to facilitate the successful financing of high-impact revitalization projects.

SSBCI Headlines

U.S. Virgin Islands Awarded Over $521K for Small Business TA Grant Program
The Virgin Islands Consortium | Aug. 10 | State Small Business Credit Initiative (SSBCI)

Delaware Organizations Foster Entrepreneurship Across Communities, Industries
Delaware Business Times | Aug. 6 | Access to Capital | State Small Business Credit Initiative (SSBCI)

Small Businesses Receive Training Boost from Alabama SBDC
The Sand Mountain Reporter | Jul. 31 | State Finance Program | State Small Business Credit Initiative (SSBCI)

Opportunity Hub Partners With GNO, Inc. to Increase Racial Equity in Energy, Climate Tech
Biz New Orleans | Jul. 31 | Energy Finance | Green Finance | State Small Business Credit Initiative (SSBCI)

Wisconsin Business Environment Offers Benefits for Clean Tech Startup COnovate
Wisconsin Economic Development Corporation | Jul. 30 | Access to Capital | Economic Development | Energy Finance | Green Finance | Revolving Loan Funds (RLFs) | State Energy Finance Programs

JumpStart Taps 'A Village' to Grow Northeast Ohio's Tech-Based Companies
Ideastream Public Media | Jul. 29 | Healthcare | State Small Business Credit Initiative (SSBCI)

Ochsner Ventures Launches $10M Louisiana Investment Fund
Digital Health Innovation | Jul. 29 | Healthcare | State Small Business Credit Initiative (SSBCI)

Columbus, OH Entrepreneur's Vision for Near East Side Former Neighborhood House Site
Columbus Dispatch | Jul. 26 | Access to Capital | Food Systems Finance | Housing Finance | State Small Business Credit Initiative (SSBCI)

Maryland Biopharmaceutical Company Receives Significant Funding from TEDCO
BioBuzz | Jul. 25 | Healthcare | State Small Business Credit Initiative (SSBCI)

Red Lake Nation to Receive $3.3M for Small Business Development
The Bemijdi Pioneer | Jul. 23 | Access to Capital | State Small Business Credit Initiative (SSBCI) | Tribal Finance

Change Labs Commits to Deploy $13.3M in Loans to Navajo Businesses
Navajo-Hopi Observer | Jul. 23 | State Small Business Credit Initiative (SSBCI) | Tribal Finance

Navajo President Launches $7 Million Small Business Loan Program
Native News Online | Jul. 19 | Access to Capital | State Small Business Credit Initiative (SSBCI) | Tribal Finance

Treasury Improved on SSBCI Disbursements and Project Scheduling, GAO Finds
Government Accountability Office | Jun. 11 | Access to Capital | Disaster Recovery & Relief | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury

New Additions to the Online Resource Database

SSBCI Guidebook: Communications and Media Relations
Access to Capital | Disaster Recovery & Relief | State Small Business Credit Initiative (SSBCI) | Economic Development
The U.S. Department of the Treasury published the SSBCI Guidebook: Communications and Media Relations to provide general communications best practices and how they could be applied to State Small Business Credit Initiative (SSBCI) programs in participating jurisdictions. Each jurisdiction is unique with strengths, opportunities, and challenges, and not all of the included information will apply to every jurisdiction.


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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