On November 10, 2021, the U.S. Department of the Treasury issued capital program implementation guidance for the State Small Business Credit Initiative (SSBCI) as well as this Fact Sheet containing general info on the program.

The Department of the Treasury is extending the Tribal government Notice of Intent (NOI) deadline to apply for SSBCI funds to December 11, 2021, at 11:59 p.m. ET, the same deadline for the initiation of the SSBCI capital application.

The Angel Funders Report 2021, published by the Angel Capital Association, uses verified data provided directly by active angel investing groups. The report is based on information collected from a variety of ACA member groups, including some of the...

The American Rescue Plan Act of 2021 (ARPA) reauthorizes and amends the State Small Business Credit Initiative (SSBCI) Program. ARPA provides a combined $10 billion to states, the District of Columbia, territories, and Tribal governments to help...

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;...

Many economic development organizations (EDOs) have embraced the mission to support entrepreneurial firms in their communities. EDOs engage in their entrepreneurial ecosystems, in part, by providing resources, sometimes in the form of business...

Novogradac conducted an analysis of the private activity bond (PAB) financed by test for low-income housing tax credits (LIHTCs). The analysis determined that lowering the financed by test for PAB test from the current law threshold of 50 percent to...

The Governmental Accounting Standards Board (GASB) published a Fact Sheet about its proposed Concepts Statement on notes to financial statements. The public comment period for the Revised Exposure Draft ends October 15, 2021.

This webinar discussed how Bonds, Tax Increment Finance, Tax Credits as well as the litany of federal funding through recent legislation can work for your project and ultimately the community that is benefitting.

This Interactive Guide from the National Telecommunications and Information Administration (NTIA) provides an interactive, step-by-step approach for users to filter through more than 90 broadband related programs compiled from 12 federal agencies...

This SSBCI fact sheet for Tribal Governments was updated by the Department of the Treasury in August 2021. SSBCI will allocate at least $500 million to Tribal governments. A Notice of Intent to apply for SSBCI funds from Tribal governments is due...

Developed by the Federal Reserve Bank of St. Louis, the newly enhanced Community Investment Explorer (CIE) 2.0 includes over 73 million transactions totaling over $3.2 trillion in community and economic development capital from 2012 to 2020. This...

America’s rural workforce provides a vital foundation for the nation’s economy. Rural America supplies the nation’s food and energy resources, and the fiber necessary for goods and manufacturing. As USDA continues to respond to the COVID-19 pandemic...

This MSRB study examines the taxable bond market through the lens of the COVID-19 pandemic. It examines taxable bond issuance volumes during the pandemic and compares them to levels seen during the Build America Bonds program. In many cases, taxable...

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...

Could Federal Reserve dollars from the American Rescue Plan be used to support employee ownership? If capital were to flow in larger amounts to employee ownership, where should it flow? To what industries? How much capital could actually be...

This guidance from the Treasury Department examines how states and localities can use the State and Local Fiscal Recovery Funds included in the American Rescue Plan Act to reduce and respond to violent crime – particularly gun violence – by...

The Council of Development Finance Agencies and its SSBCI Coalition provided comments in response to the U.S. Department of the Treasury's Notice and Request for Information — State Small Business Credit Initiative (RFI) on June 1, 2021. Detailed...

Recognizing the urgency of the pandemic and related crises, on June 7, 2021, the Federal Reserve Bank of New York approached the U.S. Impact Investing Alliance to write a report about the current landscape of capital sources for community investment...

The Biden-Harris Administration is proposing a bold investment in America's housing infrastructure to make housing more affordable for working and middle-class families. The American Jobs Plan pairs $213 billion in direct funding with more than $100...

Treasury invites the public to comment on the SSBCI program design and implementation in order to support new and existing small businesses. Responses may be used by Treasury to assist in developing program design and guidance. Responses may also be...

The $350 billion Coronavirus State and Local Fiscal Recovery Funds provide substantial flexibility for each jurisdiction to meet local needs—including support for households, small businesses, impacted industries, essential workers, and the...

This announcement from the IRS confirms that the boundaries of the Designated QOZs were established at the time they were designated and are not subject to change because of the 2020 Census.

This blog post from the Federal Reserve Bank of St. Louis discusses changes to the newly reauthorized State Small Business Credit Initiative, including funding targeted to businesses owned by socially and economically disadvantaged individuals.

After the American Rescue Plan Act was signed into law by President Biden on March 11, 2021, it guaranteed direct relief to all 19,000 cities, towns, and villages in the United States. NLC has identified frequently asked questions about the...

The Idaho Collateral Support Program (CSP) provides qualified small businesses with additional loan collateral necessary for a lender to grant the loan. The CSP was funded through the federal State Small Business Credit Initiative (SSBCI) program....

This CRS report examines the SSBCI program and its implementation, including Treasury’s response to initial program audits conducted by the U.S. Government Accountability Office and Treasury’s Office of Inspector General. These initial audits...

The Families First Coronavirus Response Act, CARES Act, Consolidated Appropriations Act of 2021, and the American Rescue Plan Act included billions of dollars in supplemental funding for human services and education programs as well as various...

The Made in America Tax Plan Report describes President Biden’s Made in America tax plan, part of the newly announced American Jobs Plan. Importantly, this tax plan would generate new funding to pay for a sustained increase in investments in...

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...

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...

This excel sheet from the CDFI Fund contains transaction-level data collected on New Markets Tax Credit (NMTC) investments across the nation from fiscal years (FY) 2003 - 2019.

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...

This publication provides an overview of the federal tax law rules that apply to municipal financing arrangements commonly known as “governmental bonds.” It is intended to help issuers meet federal tax law requirements to ensure that interest...

SSBCI was signed into law as part of the American Rescue Plan Act of 2021. CDFA hosted this National SSBCI 2.0 Call with interested stakeholders on March 11, 2021, to discuss SSBCI 2.0. We discussed key SSBCI 2.0 questions and timelines. We also...

Organizations received $175.35 million from the FY2020 round of the Capital Magnet Fund. Awardees plan to develop nearly 23,000 Affordable Housing Units, including more than 20,300 Rental Units and more than 2,600 Homeownership Units. Combined, 97%...

This CDFA Legislative Briefing took place on February 17, 2021. Topics discussed included re-introducing the Modernizing Agricultural and Manufacturing Bonds Act (MAMBA) and the State Small Business Credit Initiative (SSBCI) along with the latest...

This interactive data tool from the Federal Reserve Bank of St. Louis shows total SSBCI investments, percent of investments in LMI and rural areas, investments by MSA, investments by loan programs, CDFIs, and more.

To address local disparities and help struggling areas thrive, governments at all levels have spent billions of dollars on a range of geographically targeted, or "place-based," economic development programs — mostly in the form of financial...

IRS Revenue Procedure 2020-45 sets out the calendar year 2021 Low-Income Housing Tax Credit and Bond Volume Caps.

The Municipal Liquidity Facility is a Federal Reserve program created in April as a new financing source for state and local governments. This MLF factsheet was produced by the Pew Charitable Trusts in October 2020.

This report provides an update as of November 23, 2020 on all of the Federal Reserve's outstanding lending facilities. These include the Primary Dealer Credit Facility (PDCF), the Commercial Paper Funding Facility (CPFF), the Municipal Liquidity...

The COVID-19 pandemic has exposed acute and deep-rooted connections between physical and economic health. Many of the same places hit hardest by the pandemic are reeling concurrently from the health crisis, business closures, and job losses. These...

This report provides a five-step roadmap towards a more inclusive, dynamic, and productive small-business sector. The report breaks down the five steps into ten major policy recommendations with detailed policy proposals. It was authored by the...

The findings in this report primarily reflect the financial circumstances of families in the United States in late 2019, prior to the onset of COVID-19 and the associated financial disruptions. This survey contains updated information from follow-up...

The New Markets Tax Credit program, created to spark investment in disadvantaged communities, has become a valuable source of flexible capital for healthcare providers and health systems to tackle the immediate needs of both their organizations and...

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, finance experts discussed the Municipal Liquidity Facility's requirements, market trends since the MLF's launch, and what can be done to make the MLF an attractive...

There are several existing agricultural lender initiatives that can inform the development of lending programs or products for resilient agriculture. This report derives five key lessons from these initiatives, including the need to understand the...

The Department of the Treasury Office of Inspector General (OIG) is responsible for monitoring and oversight of the receipt, disbursement, and use of Coronavirus Relief Fund (CRF) payments. Treasury OIG was also assigned authority to recover funds...

Congress is considering federal funding for infrastructure to revive an economy damaged by COVID-19. Congress previously provided infrastructure funding for economic stimulus in the American Recovery and Reinvestment Act of 2009. This Congressional...