All other inquiries should be directed to the Public Affairs Office of the Treasury and any press inquiries should be directed to Press@Treasury.gov. Texas Small Business Credit Initiative The objective of the Texas Small Business Credit Initiative (TSBCI) is to support state programs that provide resources to assist small business growth and create new jobs through increased access to small business funding. If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page.. Directory of State of Nevada Employees and Elected Officials with phone numbers, emails and general information. For SSBCI 2.0, Treasury has allocated $10 billion to provide funding for (1) small business financing, and (2) technical assistance to help small and diverse businesses become capital ready. Fund Tennesseeis expecting to launch in the first part of 2023. for the newsletter for upcoming announcements. Economic development organizations must submit the online Electronic Single Application (ESA) for assistance. The Maryland Department of Housing and Community Development has been designated as the lead agency to administer Maryland's State Small Business Credit Initiative (SSBCI) funds in partnership with the Maryland Department of Commerce and the Maryland Technology Development Corporation . The primary objective of the SSBCI is to enhance new or existing state programs that provide access to capital for small businesses and manufacturers. An ACH routing number is required. On March 11, 2021, President Biden signed The American Rescue Plan Act, which reauthorized and funded the State Small Business Credit Initiative (SSBCI). Why do I need to use ID.me? Helping to build strong, vibrant communities. Atlanta, GA 30329 The $1.4 billion of the first SSBCI was able to leverage more than $8 billion in private small business loans and investments. This document also contains the preliminary allocation methodology summary for Tribal governments. 8.3. If not, you can change them as needed. The initiative features a newly developed refinancing mechanism to strengthen Community Development Financial Institutions lending to small business. The funds will be used to implement the five types of programs allowed under SSBCI 2.0. We're here to help New York State's small businesses reimagine, rebuild and renew. GHFA EDFI/Georgia Department of Community Affairs (DCA) is the administrator of the program. You can check the status of your application at any time by logging into the Treasury Portal at Portal.Treasury.gov/cares. Administered by the U.S. Department of the Treasury, this initiative is the second installment of the program originally passed under the Small Business Jobs Act of 2010. After performance targets are . If you are an eligible jurisdiction and did not receive an email, please contact Treasury at: ssbci_information@treasury.gov. When logged into the Treasury Portal, click on the Avatar in the top right-hand corner of the screen. Please check your junk email, confirm your email address with the sender and select to trust all emails from DocuSign. Please ensure your legacy DUNS number is accessible for historical reference where needed, as the DUNS number will no longer be visible to Users in SAM.gov after April 4, 2022. ET. Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. Tennessee's SSBCI 2.0 program, calledFund Tennessee, is comprised of InvestTN, the equity component, LendTN, thedebt program, and AssistTN, the technical assistance components. Our mission is to improve the quality of life for Pennsylvania citizens while assuring transparency and accountability in the expenditure of public funds. Tribal Governments must submit their completed SSBCI TA Grant Program application by December 9, 2022 at 11:59 pm ET. ID.me is a technology partner to multiple Government Agencies and Healthcare Providers. Eligibility requirements: The applicant must employ 15 or fewer employees, including the owner; The company must be 100 percent Missouri owned and 100 percent Missouri located; It also provides technical assistance to small businesses applying for SSBCI funding. Interested in doing business in Pennsylvania? As our national outlook now shifts from economic relief to recovery, the most significant program in terms of follow-on investment and inclusive growth is set to come online this summer: the Treasury will begin accepting applications from states for the State Small Business Credit Initiative (SSBCI). Technical Assistance to very small businesses and businesses owned and controlled by Socially and Economically Disadvantaged Individuals (SEDI) owned businesses applying for SSBCI and other government programs. When approved a business can generally use the funds for: This can vary by state, so make sure to check. The Small Business Jobs Act of 2010 (the Act) became law in the fall of 2010. "Small Business Trends" is a registered trademark. The Act created the Small Business Lending Fund (SBLF) program administered by the Department of the Treasury (Treasury) to make capital investments in eligible institutions to increase the availability of credit for small businesses. If you're a business owner with employees in California, you most likely need to offer your employees paid sick leave.That's because there's the Healthy Workplaces, Healthy Families Act of 2014. When reporting begins, Entities will submit required reports to Treasury using an online portal that will be available at Treasury.gov/SSBCI. State Small Business Credit Initiative (SSBCI 2.0) Current Status The U.S. Treasury has awarded $1.181 billion in SSBCI 2.0 funds to California, divided equally between CPCFA and IBank. Diversity, Equity, Inclusion, and Accessibility, Alcohol and Tobacco Tax and Trade Bureau (TTB), Financial Crimes Enforcement Network (FinCEN), Office of the Comptroller of the Currency (OCC), Treasury Inspector General for Tax Administration (TIGTA), Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Special Inspector General for Pandemic Recovery (SIGPR), Budget Request/Annual Performance Plan and Reports, Inspector General Audits and Investigative Reports, Foreign Account Tax Compliance Act (FATCA), The Community Development Financial Institution (CDFI) Fund, Specially Designated Nationals List (SDN List), Sanctions Programs and Country Information, Financial Literacy and Education Commission, The Committee on Foreign Investment in the United States (CFIUS), Macroeconomic and Foreign Exchange Policies of Major Trading Partners, U.S.-China Comprehensive Strategic Economic Dialogue (CED), Small and Disadvantaged Business Utilization, Daily Treasury Par Real Yield Curve Rates, Debt Management Overview and Quarterly Refunding Process, U.S International Portfolio Investment Statistics, Report Fraud Related to Government Contracts, Cashing Savings Bonds in Disaster-Declared Areas, Community Development Financial Institution (CDFI) Fund, Electronic Federal BenefitPayments - GoDirect, General Property, Vehicles, Vessels & Aircraft. You will need to verify your identity with ID.me. For the Capital program, preliminary program allocations for states, territories, and the District of Columbia can be on the programs website at Treasury.gov/SSBCI by scrolling down to the Program Rules and Materials section then clicking on the Allocations for States Territories Washington DC and Tribal Governments link. Treasury will review complete applications as quickly as possible, in the order in which they are received. In September 2022, DEO announced the approval of the state SSBCI application by the United States Department of the Treasury (U.S. Treasury) for $488 million in funding. Florida received a total SSBCI allocation of $97,662,349. CDFA's SSBCI Resource Center is the central source for announcements, events, and information related to the SSBCI program. / What is the status of my application? You will need to provide all of the information listed in the Treasury Portal at Portal.Treasury.gov/cares. Quarterly reports must be submitted within 30 days after the end of each quarterly reporting period (excluding the quarterly reporting period ending on the expiration date of the Allocation Agreement). For the TA Grant program, preliminary program allocations for states, territories, and the District of Columbia can be found on the programs website at Treasury.gov/SSBCI by scrolling down to the Program Rules and Materials section then clicking on the Preliminary Technical Assistance Grant Program Allocation Table link. What is ID.me? State Small Business Credit Initiative (SSBCI) The RFP for the SSBCI Venture Capital Programs has been put on hold temporarily while we review potential changes to the RFP. What is the last day I can apply for the Technical Assistance Grant Program? For more information, visit the program website at Treasury.gov/SSBCI. Manage Settings The Texas Small Business Credit Initiative is expected to be allocated more than $472 million and the State of Texas is focused on staying apprised of the latest program information released by the U.S. Department of the Treasury. Required supplemental information outlined in Appendix I of the program guidelines must be attached electronically to the application as directed on the Addenda tab. For the latest, follow us on Google News. SAM validates information and electronically shares the secure and encrypted data with the federal agencies' Finance Offices to facilitate paperless payments through Electronic Funds Transfer (EFT). All applications must be submitted electronically through the Treasury Portal at Portal.Treasury.gov/cares. How do you get an application for small business loan? Applications will be accepted between July 18, 2022 through August 19, 2022. The Pennsylvania State Small Business Credit Initiative (PA-SSBCI) provides funding to economic development partners for the implementation and administration of capital programs to support small businesses through loans and equity investments: The following economic development organizations are eligible to apply for the Revolving Loan Fund component: The following economic development organizations are eligible to apply for the Direct Venture Investment component: Pennsylvania has allocated $125,838,132 of funding to the Revolving Loan Fund component and $125,000,000 of funding to the Direct Venture Investment component. This is to deliver capital to small businesses that urgently need it in the U.S. The $10 billion will be distributed in the following manner: States can then use the following small business financing programs to disperse the SSBCI funds: Also known as SSBCI 2.0, the second iteration of this program maintains the initial goals of the 2010 version. U.S. Treasury is in the process of accepting applications for SSBCI 2.0 Technical Assistance. How long will it take me to register with SAM.gov? Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. Diversity, Equity, Inclusion, and Accessibility, Alcohol and Tobacco Tax and Trade Bureau (TTB), Financial Crimes Enforcement Network (FinCEN), Office of the Comptroller of the Currency (OCC), Treasury Inspector General for Tax Administration (TIGTA), Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Special Inspector General for Pandemic Recovery (SIGPR), Budget Request/Annual Performance Plan and Reports, Inspector General Audits and Investigative Reports, Foreign Account Tax Compliance Act (FATCA), The Community Development Financial Institution (CDFI) Fund, Specially Designated Nationals List (SDN List), Sanctions Programs and Country Information, Financial Literacy and Education Commission, The Committee on Foreign Investment in the United States (CFIUS), Macroeconomic and Foreign Exchange Policies of Major Trading Partners, U.S.-China Comprehensive Strategic Economic Dialogue (CED), Small and Disadvantaged Business Utilization, Daily Treasury Par Real Yield Curve Rates, Debt Management Overview and Quarterly Refunding Process, U.S International Portfolio Investment Statistics, Report Fraud Related to Government Contracts, Cashing Savings Bonds in Disaster-Declared Areas, Community Development Financial Institution (CDFI) Fund, Electronic Federal BenefitPayments - GoDirect, General Property, Vehicles, Vessels & Aircraft. 3.3. (note that the comment deadline has been extended). Their website is fsd.gov and you can also call them at 866-606-8220 from 8am - 8pm EST. The Small Business Jobs Act of 2010 (the "Act") was signed into law on September 27, 2010. The program will allow for a veteran, active or reserve military, or Gold Star spouse who have a fifty-one percent ownership in a business to apply for and gain certification to recognize and promote their businesses. What reporting is required? The SSBCI is managed by the U.S. Department of the Treasury, and it will be allocating the funds. The SSBCI program works withapproved lenders to provide financial support to small businesses. Remarks by Under Secretary for Domestic Finance Nellie Liang During Workshop on Next Steps to the Future of Money and Payments, Remarks by Secretary of the Treasury Janet L. Yellen at Bilateral Meeting with Prime Minister of Ukraine Denys Shmyhal, RT @TreasuryDepSec: At our roundtable with @BlkEconAlliance today, @SBAIsabel @RepNikema and I heard from business leaders about ways the f, RT @TreasuryDepSec: I'm in Atlanta this week with @SBAIsabel and @DepSecTodman to highlight some of the historic investments @USTreasury @S, Form 941, employer's quarterly federal tax return, Assistance for State, Local, and Tribal Governments, Assistance for American Families and Workers, Local Assistance and Tribal Consistency Fund. / How do I reset my password? From there, you can make any appropriate edits then click Save. For more information, please visit Treasury.gov/SSBCI. . 4.8. Any changes to the application deadline will be posted on the website. 2021 State Small Business Credit Initiative (SSBCI) Application Material Documents and resources for the 2021 SSBCI program. 2.2. The large increase to $10 billion is due to the success of the program, which is considered one of the more successful mechanisms for delivering capital from a federal source. Copyright 2003 - 2023, Small Business Trends LLC. (VSBFA) is the eligible entity that will apply for SSBCI 2.0 funds. For more information, please visit the U.S. Department of the Treasury's website. 3.9. to get your personalized list of resources, build your own business model canvas, or locate resources near you. (404) 679-4840, Providing resources, tools, and technical assistance to cities, counties, and local authorities to help strengthen communities, Connecting communities to funding sources to help build capacity and encourage economic development while honoring the communitys past through historic preservation, Helping communities meet housing needs and connecting people with housing assistance, 2018 Georgia Department of Community Affairs. Remarks by Under Secretary for Domestic Finance Nellie Liang During Workshop on Next Steps to the Future of Money and Payments, Remarks by Secretary of the Treasury Janet L. Yellen at Bilateral Meeting with Prime Minister of Ukraine Denys Shmyhal, RT @TreasuryDepSec: At our roundtable with @BlkEconAlliance today, @SBAIsabel @RepNikema and I heard from business leaders about ways the f, RT @TreasuryDepSec: I'm in Atlanta this week with @SBAIsabel and @DepSecTodman to highlight some of the historic investments @USTreasury @S, Form 941, employer's quarterly federal tax return, State Small Business Credit Initiative (SSBCI), Enrolled Loan and Leverage Ratio Tables User Guide, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. Please check your browser. Use the Auto Navigation feature (yellow tab) to help you navigate. SSBCI will allocate at least $500 million to Tribal governments. As a reminder, you must log in using the single sign on that you created using ID.me. The Texas Small Business Credit Initiative is expected to be allocated more than $472 million and the State of Texas is focused on staying apprised of the latest program information released by the U.S. Department of the Treasury. Get more information at the U.S. Department of the Treasury State Small Business Credit Initiative Capital Program Policy Guidelines SSBCI program guidelines. 6.5. The State Small Business Credit Initiative (SSBCI) provides funds to States, Territories, and Tribal governments to enable these jurisdictions to support programs for small businesses. All said the SSBCI was responsible for helping more than 16,900 small businesses. Through SSBCI, Treasury will provide funds to states, the District of Columbia, territories, and . How do I receive payment (Wire, ACH)? It will fund state, territory, and Tribal government small business credit support and investment programs. Small businesses can begin by using technical support to learn about financing options and how to prepare to apply for capital, CalOSBA can refer you to small business technical, Small businesses can also access technical support from, When ready to apply for capital, small businesses can apply to participating financial institutions for, After applying, the participating financial institutions underwriting process will determine if the proposed loan should be enrolled in the CalCAP for Small Business or CalCAP Collateral Support program, and may also approve a proposed loan without enrolling the loan in CalCAP, Small businesses can also choose to apply for, There is no charge to enroll and all fees are paid on a per-loan basis, Financial institutions begin enrollment with this, Financial institutions can also choose to. March 31, 2023- Applications for SSBCI technical assistance funding from Tribal governments are due (application materials). *Please note that the PDF version of the Application Instructions below is not the application and should not be filled out or sent to Treasury. The Georgia Small Business Credit Guaranty (SBCG) Program provides a 50% credit guaranty to the lender on loans up to $400,000.

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