The U.S. Department of the Treasury (Treasury) initially was authorized to deploy $500 million in Technical Assistance (TA) grants through the State Small Business Credit Initiative 2.0 program (SSBCI). This funding is meant to provide micro-enterprises and businesses owned or controlled by Socially and Economically Disadvantaged Individuals (SEDI businesses) with the legal, accounting, and financial advisory services needed to prepare applications for government-supported small business financing programs, including SSBCI. To date, Treasury has allocated $200 million in potential funding to states, U.S. Territories, and Tribal Governments, and another $100 million to the Minority Business Development Agency for its
Capital Readiness Program. An additional $50 million in TA funding , down from $200 million as a result of the Fiscal Responsibility Act of 2023's rescissions, remains to be allocated by Treasury.
During the third module of the 2023 SSBCI Learning Series, speakers will provide insights on best practices for delivering TA to micro-enterprises and SEDI businesses and discuss current efforts to deploy funding made available through Treasury’s SSBCI Technical Assistance Grant Program. CDFA will also provide an overview of Treasury’s implementation of the first $300 million in TA funding, as well as an update on how the Fiscal Responsibility Act's rescissions will impact the remaining TA grant funds going forward.
The State of SSBCI Technical Assistance Funding
2:00 PM - 2:30 PM ET
This session will provide an overview of Treasury’s progress to allocate and deploy $350 million in Technical Assistance funding authorized through the State Small Business Credit Initiative 2.0 program. We will discuss the status of the $200 million TA Grant Program and the $100 million Capital Readiness Program, and provide an outlook for the balance of TA funding that remains unobligated.
Implementation of the SSBCI TA Grant Program
2:30 PM - 3:15 PM ET
During this session, SSBCI program managers will discuss their strategies deploying funding through the TA Grant Program. Speakers will also provide insights on their process for identifying TA services providers and how those providers will be connecting small business clients to financing opportunities.
Best Practices for Delivering TA to Micro-enterprises and SEDI Businesses
3:15 PM - 4:00 PM
Technical assistance funding is meant to provide micro-enterprises and businesses owned or controlled by Socially and Economically Individuals (SEDI businesses) with the legal, accounting, and financial advisory services needed to prepare applications for government-supported small business financing programs, including SSBCI. During this session, speakers will provide insights on the TA needs of micro-enterprise and SEDI Businesses, as well as best practices for engaging businesses and delivering these services.
Moderator(s)
- Rachel Reilly, Senior Advisor, Council of Development Finance Agencies
- Mitchell Smith, Director, Government & External Affairs, Council of Development Finance Agencies
Speaker(s)
- William Cummins, Executive State Director, Alabama Small Business Development Center
- Thomas Eveland, Founder, SBC Small Business Consulting, LLC
- Ron Kelly, Outreach Lead, SSBCI, U.S. Department of the Treasury
- Selena Skorman, Director of Entrepreneurship Policy and Partnerships, gener8tor
- Sue Taylor, Development Director, Native American Development Corporation