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SSBCI Resource Center

SSBCI Fact Sheet & FAQs

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The State Small Business Credit Initiative (SSBCI) is a $10 billion program managed by the U.S. Department of the Treasury that allocates funding to state development finance agencies to create specialized small business access to capital programs. The CDFA SSBCI Resource Center is the central source for information, data, analytics, and programs related to the SSBCI program.


State development finance agencies apply for an allocation from the U.S. Department of the Treasury to receive funding to recapitalize existing small business support programs or create new ones. These can include capital access programs, loan participation and guaranty programs, revolving loan funds, venture capital and equity programs, and more. States are empowered to tailor their SSBCI-funded small business support programs to meet the unique needs of each state, region, and community.

As more guidance and regulations on SSBCI 2.0 are released, the CDFA SSBCI Resource Center will be routinely updated.

Want regular updates on SSBCI? Subscribe to CDFA's SSBCI Update newsletter.

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-About SSBCI

The State Small Business Credit Initiative (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 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 regional economic conditions. Because of the flexibility and adaptability of SSBCI funds, states were able to deploy over $1.4 billion to support small businesses. That $1.4 billion leveraged well over $8 billion in private small business loans and investments.

The original SSBCI program’s ability to leverage private capital made it an ideal federal program, as it was both incredibly cost-effective and highly impactful: 80 percent of all SSBCI loans and investments went to businesses with 10 or fewer employees, and 42 percent went to businesses in low- and moderate-income communities. More than 16,900 small businesses in the U.S. received financial support from SSBCI, resulting in the creation or retention of 190,000 American jobs.

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. When the American Rescue Plan was passed, it reauthorized $10 billion in funding for SSBCI 2.0. To learn more about CDFA's advocacy efforts on SSBCI and to get involved, visit the CDFA Advocacy Center.

View SSBCI Fact Sheet & FAQs

-SSBCI Guidance

On November 10, 2021, the U.S. Department of the Treasury issued Capital Program Policy Guidelines for the State Small Business Credit Initiative (SSBCI). This guidance builds upon the original SSBCI program, first funded in 2010, and updates policy guidelines issued in April 2014.

The updated guidelines provide clarity on a range of program provisions, including:
  • Tranching and deployment of funds
  • Reallocation and termination of unallocated funds
  • Allocations for SEDI-owned Businesses and Very Small Businesses
  • Participation of Eligible Jurisdictions (states, the District of Columbia, territories, and Tribal governments)
  • Requirements for Capital Access Programs and Other Credit Support Programs
  • Other SSBCI program requirements
  • Requirements for replenishment and un-enrollment of transactions
  • Reporting
The guidelines did not include information about the technical assistance component of the SSBCI program. However, Treasury notes that within the coming weeks it will announce the availability of technical assistance funding and issue separate guidelines regarding technical assistance and instructions on how to apply.

View Guidance

2021 State Small Business Credit Initiative (SSBCI) Application Material
Treasury has posted documents and resources for the 2021 SSBCI program application. An online application portal will become available in the coming days.
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. The programs available under SSBCI are 1) Venture Capital Programs, 2) Loan Participation Programs, 3) Loan Guarantee Programs, 4) Collateral Support Programs, and 5) Capital Access Programs (CAPs).
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.
SSBCI 2.0 Preliminary Allocation Table (Updated November 2021)
This table identifies the funds allocated to states, territories, and the District of Columbia pursuant to the American Rescue Plan's 2021 updates to the State Small Business Credit Initiative. The table has been updated to provide additional details about Employment-Based Allocations and Very Small Business Allocations.

-SSBCI Learning Series

The SSBCI Learning Series will consist of four modules designed to assist all SSBCI stakeholders with program design and prepare for implementation. This series is designed to assist stakeholders during the program design and application process. These events will be recorded and archived for future access.

Learn More

-SSBCI Coalition

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.

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.

Learn More

-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 has hosted a 10-part biweekly SSBCI Briefing Series, launched a national SSBCI Coalition of more than 150 members, and worked with SSBCI practitioners to provide recommendations to Treasury on program guidance. CDFA is now expanding our technical assistance offerings to include several SSBCI-specific options.

Contact CDFA

-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 are eligible to apply for SSBCI funds, click here.

-Resources

In this section, you'll find Analysis and Evaluation of the SSBCI Program, Quarterly Reports, and Additional Resources.

SSBCI Program Guidelines - U.S. Department of the Treasury
SSBCI Homepage - U.S. Department of the Treasury
CDFA's Public Comments on the Treasury Department's Notice and Request for Information on SSBCI

-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 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.
SSBCI Quarterly Report Summary (3Q 2014)Members only Login
The SSBCI Quarterly Report for the third quarter summarizes and organizes the funds allocated and percentage of disbursements by state. According to the report, disbursements and funds deployed exceeded $1 Billion.
View More SSBCI Resources

-Additional Resources

Promoting Employee Ownership Through SSBCI
The Employee Ownership Expansion Network and Ownership America gave this presentation on how the State Small Business Credit Initiative (SSBCI) can be used to promote employee ownership of small businesses.
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).
2021 State Small Business Credit Initiative (SSBCI) Application Material
Treasury has posted documents and resources for the 2021 SSBCI program application. An online application portal will become available in the coming days.
View More SSBCI Resources

-Headlines

-Upcoming Events

Fundamentals of Economic Development Finance Course
January 26-27, 2022
Daily: 12:00 - 5:00 PM Eastern
CDFA's Fundamentals of Economic Development Finance Course is the foundation for all of CDFA’s educational offerings. This course helps attendees understand the variety of development finance tools available, from bonds, tax credits and TIF, to federal financing programs, RLFs, and access to capital lending resources.
Register
Intro Bond Finance Course
February 14-15, 2022
Daily: 12:00 - 5:00 PM Eastern
The Intro Bond Finance WebCourse provides an in-depth look at governmental and qualified private activity bonds, with a focus on industrial development bonds (IDBs), 501(c)(3) non-profit bonds, exempt facility bonds, and other special bond programs authorized by the federal government.
Register
View more Upcoming Events

-Webcasts

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.
National SSBCI 2.0 Call - March 11, 2021
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 discussed CDFA's plans for SSBCI education and future engagement. Several states spoke about their efforts to re-launch SSBCI programming.
Legislative Briefing - February 2021
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 developments on the American Rescue Plan and legislative actions on Capitol Hill.
CDFA-BNY Mellon Webcast Series: Publicly Supported Seed & Venture CapitalMembers only Login
During this installment of the CDFA//BNY Mellon Development Finance Webcast Series, state leaders evaluated funds managed by public sector participants, discussed their role in complementing private VC funds, and considered which types of businesses are receiving the most interest from investors.
View More Webcasts

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