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SSBCI Resource Center

SSBCI Fact Sheet & FAQs

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gener8tor

The State Small Business Credit Initiative (SSBCI) is a $10 billion small business program managed by the U.S. Department of the Treasury (Treasury). CDFA’s SSBCI Resource Center is the central source for announcements, events, and information related to the SSBCI program.


States, U.S. territories, Washington, D.C., and Tribal Governments (Jurisdictions) are eligible to receive funding through SSBCI to capitalize financing and technical assistance programs for small businesses. Jurisdictions are empowered to structure SSBCI-supported programs that are uniquely designed to expand access to capital for small businesses emerging from the pandemic, build ecosystems of opportunity and entrepreneurship, and create high-quality jobs.

The SSBCI Resource Center includes the following resources to help you better understand the SSBCI program, and stay up-to-date as Treasury issues program guidance and Jurisdictions implement their SSBCI strategies.
Want regular updates on SSBCI? Subscribe to CDFA's SSBCI Update newsletter.

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-About SSBCI

Overview
The State Small Business Credit Initiative (SSBCI) authorizes the U.S. Department of the Treasury (Treasury) to allocate federal funds to states, U.S. Territories, Washington, D.C., and Tribal Governments (Juridictions) to capitalize local small business support programs. Jurisdictions must match SSBCI funds with private capital, and aspire to leverage each dollar to attract 10 dollars in private financing. The SSBCI program was reauthorized and enhanced in 2021. Treasury is currently working with Jurisdictions to approve and implement local SSBCI strategies.

History
SSBCI was originally introduced in 2010 to deliver urgently needed capital to small businesses in the United States. The first version of the program was active through 2017 and became one of the most successful federal programs to expand access-to-capital delivery mechanisms during its time. SSBCI allowed states the flexibility to design their own small business support programs to accommodate the variation in small business needs across the nation.

Because of the flexibility and adaptability of the SSBCI program, states were able to deploy over $1.4 billion in SSBCI funding to support small businesses. That $1.4 billion leveraged well over $8 billion in private loans and equity investments through five SSBCI-approved program structures: The original SSBCI program’s ability to leverage private capital made it an ideal federal program, being both incredibly cost-effective and highly impactful. Of all SSBCI loans and equity investments, 80% went to businesses with 10 or fewer employees and 42% went to businesses in low- and moderate-income communities. More than 16,900 small businesses received financial support, resulting in the creation or retention of 190,000 jobs.

Reauthorization
CDFA worked with our members and partners across the country to encourage Congress to reauthorize funding for SSBCI and recapitalize state programs that had expired in 2017. The American Rescue Plan Act of 2021 reauthorized SSBCI at $10 billion in total funding and enhanced the program to provide dedicated funding for technical assistance activities and opened program participation to Tribal Governments. The reauthorized SSBCI program also requires Jurisdictions to target a portion of loans and investments to Very Small Businesses and businesses owned or controlled by socially and economically disadvantaged individuals (SEDI businesses).

Visit the CDFA Advocacy Center to learn more about CDFA's advocacy efforts on SSBCI and to get involved.

Implementation Timeline
  • May 21, 2021: Treasury issues a Notice and Request for Information pertaining to the SSBCI program and rulemaking.

  • November 10, 2021: Treasury issued SSBCI Capital Program Policy Guidelines, which updated policy guidelines issued in April 2014.

  • February 11, 2022: All states, U.S. territories, and Washington, D.C. submitted a Capital Program application to Treasury. Jurisdictions outlined their strategies for deploying SSBCI funds in these applications.

  • March 2, 2022: Treasury updated its SSBCI FAQs document.

  • March 3, 2022: Treasury issued an Interim Final Rule pertaining to reporting requirements.

  • May 11, 2022: Tribal Governments must submit Capital Program applications.

  • June 30, 2022: Jurisdictions must submit Technical Assistance applications. As of March 3, 2022, Treasury has not issued guidance pertaining to Technical Assistance.

  • July 11, 2022: Tribal Governments must submit Technical Assistance applications.
Program documents and announcements are available in the Resources section.

View CDFA’s SSBCI Fact Sheet for more information.

-SSBCI Guidance

The U.S. Department of the Treasury (Treasury) issued SSBCI Capital Program Policy Guidelines on November 10, 2021. This guidance builds upon the original SSBCI program, first funded in 2010, and updates policy guidelines issued in April 2014. The Capital Program Policy Guidelines do not include information about the technical assistance component of the SSBCI program.

Treasury SSBCI Capital Program Reporting Guidance
This Capital Program Reporting Guidance details the reporting and document retention requirements for jurisdictions that receive SSBCI funding. Treasury will create an online portal that participating jurisdictions must use to submit reporting data. Treasury will provide more information about the submission format in the coming months. This guidance may be updated periodically.

SSBCI Technical Assistance Grant Program Guidelines
This document provides guidance on the application, award requirements, and administration of the TA Grant Program. Section II describes the available TA Grant Program funding. Section III defines eligible recipients, eligible beneficiaries, and eligible TA providers. Section IV provides detail on qualifying TA services. Section V describes the application process, including the components of the required TA plan, and more.

Briefing: Capital Program Policy Guidelines
CDFA hosted this public briefing with Treasury representatives on November 22, 2021 to provide an overview of the new SSBCI Capital Program Policy Guidelines as well as application timelines and requirements.

Analysis of the Capital Program Policy Guidelines
CDFA’s analysis of the November 2021 Capital Program Policy Guidelines is meant to provide a high-level overview of key provisions and is not comprehensive of all updates and changes to the April 2014 policy guidelines.

Interim Final Rule: Reporting Requirements - March 2022
On March 3, 2022, the U.S. Department of the Treasury issued an Interim Final Rule pertaining to reporting requirements.

SSBCI FAQs Document - March 2022
On March 2, 2022, the U.S. Department of the Treasury updated its FAQs document for the State Small Business Credit Initiative (SSBCI).

SSBCI Programs Fact Sheet - November 2021
This November 2021 Fact Sheet from the U.S. Department of the Treasury discusses the five types of SSBCI programs: Venture Capital Program, Loan Participation Program, Loan Guarantee Program, Collateral Support Program, and Capital Access Program.

-SSBCI Learning Series

CDFA has launched the next SSBCI Learning Series to help you stay informed and navigate the implementation of State Small Business Credit Initiative (SSBCI) programs.

Last year, CDFA hosted the 2021 SSBCI Learning Series focused on strengthening understanding of the SSBCI rules, supporting efforts to design effective programs, and providing strategies to help reach hard-to-serve businesses.

During the 2022 SSBCI Learning Series, CDFA will elevate those conversations as well as host sessions geared toward working with partners, successfully launching new SSBCI programs and financial products, and reaching target audiences.

Attendees have the option to register for one session or the full series. Significant discounts are available for CDFA member organizations, and those who register for the full series.

Learn More about CDFA's SSBCI Learning Series

-SSBCI Coalition

The SSBCI Coalition is a nationwide coalition of small business and SSBCI experts and practitioners. SSBCI Coalition members help inform CDFA’s SSBCI efforts and participate in joint efforts to guide implementation. 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. CDFA Members interested in participating in SSBCI Coalition meetings must register to attend.

SSBCI Coalition Meeting - June 24 (Virtual)
June 24, 2022
1:00 PM - 2:00 PM Eastern
SSBCI Coalition Meeting - July 22 (Virtual)
July 22, 2022
1:00 PM - 2:00 PM Eastern
SSBCI Coalition Meeting - August 19 (Virtual)
August 19, 2022
1:00 PM - 2:00 PM Eastern
SSBCI Coalition Meeting - September 23 (Virtual)
September 23, 2022
1:00 PM - 2:00 PM Eastern
SSBCI Coalition Meeting - October 21 (Virtual)
October 21, 2022
1:00 PM - 2:00 PM Eastern
Learn More about CDFA's SSBCI Coalition

-SSBCI Technical Assistance

CDFA has developed deep expertise in SSBCI due to its vast experience with the program. Since 2010, CDFA has advised state agencies and intermediaries on the implementation and ongoing deployment of SSBCI funds. After leading advocacy efforts to secure reauthorization of the SSBCI program in 2021, CDFA hosted a 10-part biweekly SSBCI Briefing Series and four-month SSBCI Learning Series, launched a national SSBCI Coalition of more than 150 members, worked with SSBCI practitioners to provide recommendations to Treasury on program guidance, and has provided direct technical assistance to various states.

Contact CDFA to discuss your technical assistance needs.

-State Resources Map

The following information summarizes the SSBCI application status or program information for each state participating in the Initiative. If you are a state SSBCI or access to capital program manager, you can help develop the SSBCI State Resources Map by sending information, comments, or materials to CDFA.

To view a list of Tribal Governments that have submitted a Notice of Intent (NOI) to apply for SSBCI funds, click here.

-Resources

This section provides resources to help better understand and navigate the SSBCI program.

SSBCI Program Application Deadline for TA Grant Program Extended - U.S. Department of the Treasury
Treasury Announces First SSBCI Awards - U.S. Department of the Treasury
SSBCI Capital Program Reporting Guidance - U.S. Department of the Treasury
SSBCI Technical Assistance Grant Program Guidelines - U.S. Department of the Treasury
The Small Business Boom Under the Biden-Harris Administration - The White House
SSBCI Technical Assistance Grant Program Guidelines - Treasury
Treasury Announces Plans to Deploy $300M in Technical Assistance through the SSBCI - Treasury
SSBCI Preliminary Technical Assistance Grant Program Allocation Table - Treasury
SSBCI Guidance for Tribal Governments - CDFA
SSBCI for Tribal Governments Webinar - CDFA, gener8tor, The Choctaw Nation
SSBCI Capital Program Policy Guidelines - U.S. Department of the Treasury
Interim Final Rule: Reporting Requirements - U.S. Department of the Treasury
SSBCI Homepage - U.S. Department of the Treasury
Capital Program Policy Guidelines Briefing - CDFA and the U.S. Department of the Treasury
Webinar: A Guide to the SSBCI Application Tables - CDFA and the U.S. Department of the Treasury

-SSBCI Analysis & Evaluation

Analysis of Updated SSBCI Guidelines
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.
SSBCI Implementation Guidance Highlight Summary and Reader’s Guide - gener8torMembers only Login
Gener8tor produced this summary/reading guide of the SSBCI guidance that the U.S. Department of the Treasury released on November 10, 2021.
SSBCI Investing for Innovation and Social Equity - gener8tor Policy White PaperMembers only Login
This white paper from gener8tor discusses the importance of supporting underrepresented founders and underinvested business sectors (i.e. music, art, child care).
CDFA's Analysis of Capital Program Policy Guidelines for the State Small Business Credit Initiative
CDFA’s analysis of the November 2021 SSBCI Capital Program Policy Guidelines is meant to provide a high-level overview of key provisions and is not comprehensive of all updates and changes to the April 2014 policy guidelines.
Localizing the State Small Business Credit InitiativeMembers only Login
This white paper, authored by three researchers at Drexel University's Nowak Metro Finance Lab, argues that to drive a recovery that expands opportunity and innovation, local leaders would be well put to think about ways they can maximize SSBCI usage. While “local” may not be in the program’s title, its success will ultimately hinge on the hard-won efforts and institutional capacity of local leaders.
View More SSBCI Resources

-Program Data & Reports

SSBCI Tribal Government Notice of Intent (NOI) Submissions
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.
SSBCI Transactions Dataset
The SSBCI Transactions Dataset is a set of .csv files reporting transaction level data for all transactions conducted through the SSBCI program from inception in 2011 through December 31, 2016. This dataset categorizes transactions by program type, according to the five approved SSBCI programs: Capital Access Programs, Collateral Support Programs, Loan Guarantee Programs, Loan Participation Programs, and Venture Capital Programs.
SSBCI: A Summary of States' 2016 Annual Reports
Cumulatively, from 2011 to 2016, states reported the following notable accomplishments: (1) States expended $1.2 billion in SSBCI funds which supported new financing to small businesses totaling $10.7 billion; (2) SSBCI programs have supported $8.95 in new financing for every $1 of SSBCI funds; and (3) Small business owners reported that SSBCI funds will help create or save more than 240,000 jobs.
SSBCI: A Summary of States' 2015 Annual Reports
From 2011 through 2015, States reported that they had expended $1.04 billion in SSBCI funds which, in turn, supported over 16,900 new loans or investments to small businesses totaling $8.4 billion. The state-by-state data show how SSBCI programs operating in all 50 States, the District of Columbia, and territories have expended their allocated funds to date.
SSBCI: A Summary of States' 2014 Annual Reports
In the Department of Treasury's annual SSBCI Report, data and success stories are reported. Between 2011 and 2014, the program created or saved more than 140,000 jobs.
View More SSBCI Resources

-Additional Resources

Treasury Announces First SSBCI Awards to Support Underserved Entrepreneurs
The U.S. Department of the Treasury announced the first group of plans approved under the new round of the State Small Business Credit Initiative (SSBCI). The American Rescue Plan reauthorized and expanded SSBCI, which was originally established in 2010 and was highly successful in increasing access to capital for traditionally underserved small businesses and entrepreneurs.
Treasury SSBCI Capital Program Reporting Guidance
This Capital Program Reporting Guidance details the reporting and document retention requirements for jurisdictions that receive SSBCI funding. Treasury will create an online portal that participating jurisdictions must use to submit reporting data. Treasury will provide more information about the submission format in the coming months. This guidance may be updated periodically.
Sign-on! Letter to the U.S. Department of the Treasury Issued by CDFA and the SSBCI Coalition
The Council of Development Finance Agencies (CDFA) and the national State Small Business Credit Initiative (SSBCI) Coalition call on the U.S. Department of the Treasury to fully implement the SSBCI program, and immediately deploy capital to Eligible Governments and Technical Assistance providers. Treasury's prolonged regulatory and review process has exposed the program to Congressional scrutiny.
SSBCI for Tribal Governments
CDFA and guest speakers from The Choctaw Nation and gener8tor held this webinar on March 11, 2022 for a discussion on how Tribal Governments can utilize the State Small Business Credit Initiative (SSBCI) program. During this webinar, CDFA provided an overview of the information included in SSBCI for Tribal Governments, and guest speakers discussed their approach to maximizing the program from the Tribal Government perspective and the perspective of a mission-aligned fund manager.
View More SSBCI Resources

-Headlines

-Upcoming Events

SSBCI Learning Series - Approaches to Targeting Specific Economic Sectors
June 17, 2022
1:00 PM Eastern
The fourth module of the SSBCI Learning Series will provide an overview and insight into using SSBCI capital to support and finance manufacturing, the clean and renewable energy sector, and IoT and technology businesses.
SSBCI Coalition Meeting - June 24 (Virtual)
June 24, 2022
1:00 PM - 2:00 PM Eastern
SSBCI Coalition meetings will be held once a month to provide an interactive forum for CDFA members during the State Small Business Credit Initiative (SSBCI) application period. CDFA will facilitate discussions that allow for networking, peer knowledge sharing, and problem solving.
SSBCI Coalition Meeting - July 22 (Virtual)
July 22, 2022
1:00 PM - 2:00 PM Eastern
SSBCI Coalition meetings will be held once a month to provide an interactive forum for CDFA members during the State Small Business Credit Initiative (SSBCI) application period. CDFA will facilitate discussions that allow for networking, peer knowledge sharing, and problem solving.
SSBCI Learning Series - Aligning your SSBCI Strategy with Federal Funding Priorities
July 29, 2022
1:00 PM Eastern
The fifth and final module of the SSBCI Learning Series will focus on how to align your SSBCI programs with other economic initiatives.
SSBCI Coalition Meeting - August 19 (Virtual)
August 19, 2022
1:00 PM - 2:00 PM Eastern
SSBCI Coalition meetings will be held once a month to provide an interactive forum for CDFA members during the State Small Business Credit Initiative (SSBCI) application period. CDFA will facilitate discussions that allow for networking, peer knowledge sharing, and problem solving.
SSBCI Coalition Meeting - September 23 (Virtual)
September 23, 2022
1:00 PM - 2:00 PM Eastern
SSBCI Coalition meetings will be held once a month to provide an interactive forum for CDFA members during the State Small Business Credit Initiative (SSBCI) application period. CDFA will facilitate discussions that allow for networking, peer knowledge sharing, and problem solving.
SSBCI Coalition Meeting - October 21 (Virtual)
October 21, 2022
1:00 PM - 2:00 PM Eastern
SSBCI Coalition meetings will be held once a month to provide an interactive forum for CDFA members during the State Small Business Credit Initiative (SSBCI) application period. CDFA will facilitate discussions that allow for networking, peer knowledge sharing, and problem solving.
SSBCI Coalition Meeting - November 18 (Virtual)
November 18, 2022
1:00 PM - 2:00 PM Eastern
SSBCI Coalition meetings will be held once a month to provide an interactive forum for CDFA members during the State Small Business Credit Initiative (SSBCI) application period. CDFA will facilitate discussions that allow for networking, peer knowledge sharing, and problem solving.
SSBCI Coalition Meeting - December 16 (Virtual)
December 16, 2022
1:00 PM - 2:00 PM Eastern
SSBCI Coalition meetings will be held once a month to provide an interactive forum for CDFA members during the State Small Business Credit Initiative (SSBCI) application period. CDFA will facilitate discussions that allow for networking, peer knowledge sharing, and problem solving.
View more Upcoming Events

-Webcasts

SSBCI for Tribal Governments
CDFA and guest speakers from The Choctaw Nation and gener8tor held this webinar on March 11, 2022 for a discussion on how Tribal Governments can utilize the State Small Business Credit Initiative (SSBCI) program. During this webinar, CDFA provided an overview of the information included in SSBCI for Tribal Governments, and guest speakers discussed their approach to maximizing the program from the Tribal Government perspective and the perspective of a mission-aligned fund manager.
CDFA-Treasury: A Guide to the SSBCI Application Tables Webinar
CDFA hosted this public briefing on January 20, 2022 to provide an overview and demonstration of the new SSBCI Leverage Ratio Data Table as well as the Enrolled Loan Data Table. CDFA along with representatives from Treasury discussed key provisions in the updated guidance and fielded questions from attendees.
Analysis of Updated SSBCI Guidelines
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.
National SSBCI 2.0 Call - March 26, 2021
SSBCI was signed into law as part of the American Rescue Plan Act of 2021. CDFA hosted this National SSBCI 2.0 Call serving as an interface between Treasury and stakeholders during the rulemaking process. On March 26, 2021, we discussed insights and recommendations to Treasury and our understanding of what resources need to be developed.
View More Webcasts

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