This allotment of State Small Business Credit Initiative (SSBCI) funding will continue to help small businesses through three programs: Loan Participation Program (LPP), Capital Access Program (CAP), and the NC Venture Capital Program. 2.10. 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. What does the Change to UEI Number mean for Recipients? 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. This new portal is referred to as SSBCI When additional information becomes available, it will be posted on the program website at Treasury.gov/SSBCI. 1. Small Business Lending Fund Program and State Small Business Credit You will need to provide all of the information listed in the Treasury Portal at Portal.Treasury.gov/cares. Why isnt the system accepting [x] information? Im trying to do something in the Treasury Portal and its not working. 2.7. If you are having difficulty registering on ID.me, please refer to ID.me Contact Support for assistance. 2.9. As a part of the federal American Rescue Plan Act (ARPA), the federal government passed the State Small Business Credit Initiative (SSBCI) bill to fund small business credit support and investment programs. (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. Any changes to the application deadline will be posted on the website. We and our partners use cookies to Store and/or access information on a device. Treasury Launches the 2021 State Small Business Credit Initiative (SSBCI) Technical Assistance Grant Application Portal on 8/1/2022 Treasury Announces North Carolina Approved to Receive Up to $201.9 Million to Promote Small Business Growth and Entrepreneurship through the American Rescue Plan (7/29/2022) PDF VSBFA SSBCI 2 - Virginia All Entities can obtain a Unique Entity Identifier (UEI) number on the Sam.gov website and register for an account if needed: 4.4. Eligible Recipients under the Technical Assistance (TA) Grant Program are States, the District of Columbia and Territories that submitted a complete SSBCI Capital Program application by February 11, 2022; and Tribal Governments that submit a complete SSBCI Capital Program application by October 31, 2022. Phone: (615) 741-1888 The first time you click a SIGN or INITIAL field, you are asked to adopt a signature and initials. 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Five new programs to be offered through the State Small Business Credit Initiative (SSBCI) OLYMPIA, WA - Washington state has been awarded $163.4 million from the U.S. Treasury Department to operate five capital access programs for small businesses. MBDA's Program: Small Business Credit Initiative Nevada Employee Directory (NED). 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. The second-round application period for this grant is open until May 25. Eligible Entities include States, the District of Columbia, Territories, and Tribal Governments. States, the District of Columbia, and Territories must submit their completed SSBCI Technical Assistance (TA) Grant Program application by October 14, 2022 at 11:59 pm ET (Eastern Time). SSBCI 1.0was passed in 2010 and ran from 2011 to 2017. Addresses inequitable capital access by bridging the financing gaps facing new companies, under-banked communities and small businesses. There is no set turnaround time for reviewing applications. It allowed states to design and implement programs to accommodate various business needs. 3.10. Look for the Register Your Entity or Get a Unique Entity ID section on the page then click Learn Mo. With small businesses continuing to face challenges brought on by the pandemic, the U.S. Department of Treasury has expanded the State Small Business Credit Initiative (SSBCI) Program as a part of The American Rescue Plan Act of 2021. Indicate if you want to select a preformatted signature style or if you will draw your signature. An ACH routing number is required. Copyright 2003 - 2023, Small Business Trends LLC. Incentives & Credits - Division of Small Business - State of Delaware 3.11. New York State Small Business Credit Initiative (SSBCI) The SSBCI is managed by the U.S. Department of the Treasury, and it will be allocating the funds. 4.2. /. At that point, Entities doing business with the Federal Government must use a Unique Entity Identifier (UEI) number assigned in SAM.gov and will no longer use a third-party website to obtain their identifier number. Please check your junk email, confirm your email address with the sender and select to trust all emails from DocuSign. An online application portal is forthcoming. State Small Business Credit Initiative (SSBCI 2.0) - Tennessee This is a considerable increase from the first SSBCI and the $1.4 billion it offered in 2010. State Small Business Credit Initiative (SSBCI) About SSBCI The State Small Business Credit Initiative (SSBCI) was created through the Small Business Jobs Act of 2010 (the "Act"). Maine Economic Recovery Grants 7.2. Eligibility and Preliminary Allocations, Budget, Financial Reporting, Planning and Performance, Financial Markets, Financial Institutions, and Fiscal Service, Treasury Coupon-Issue and Corporate Bond Yield Curve, Treasury International Capital (TIC) System, Kline-Miller Multiemployer Pension Reform Act of 2014, Taxpayers Will See Improved Service This Filing Season Thanks to Inflation Reduction Act, Disparities in the Benefits of Tax Expenditures by Race and Ethnicity, Racial Differences in Economic Security: Non-Housing Assets, Treasury Sanctions People Involved in Serious Human Rights Abuse Against Vladimir Kara-Murza, Treasury Announces Approval of Up to $890.7 Million to Support Small Business Success Across Three States, Treasury Sanctions CJNG-Run Timeshare Fraud Network. Helping to build strong, vibrant communities. The result was 190,000 jobs that were created or retained because of the support. Documents and resources from the 2010 SSBCI Allocation which operated from 2011-2017 can be found at2010-2017 Archive. Congress appropriated $1.5 billion to the Initiative. Questions added 9/16/22: 1.1, 2.1-2.11, 3.1-3.11, 4.1-4.9, 5.1-5.2, 6.1-6.6, 7.1-7.2, 8.1-8.3. All Recipients and Subrecipients can obtain a Unique Entity Identifier (UEI) number on the Sam.gov website and register for an account if needed: For more information, please access the SAM.gov website. Weencourage those interested in Tennessee's SSBCI program to check backperiodically and/orsign-upfor the newsletter for upcoming announcements. In Step 1, as part of the Discover Phase, small and diverse business, ESOs (entrepreneur support organizations), lenders/funders to small and diverse businesses and stakeholders completed a public survey. State Small Business Credit Initiative (SSBCI), Budget, Financial Reporting, Planning and Performance, Financial Markets, Financial Institutions, and Fiscal Service, Treasury Coupon-Issue and Corporate Bond Yield Curve, Treasury International Capital (TIC) System, Kline-Miller Multiemployer Pension Reform Act of 2014, Taxpayers Will See Improved Service This Filing Season Thanks to Inflation Reduction Act, Disparities in the Benefits of Tax Expenditures by Race and Ethnicity, Racial Differences in Economic Security: Non-Housing Assets, Treasury Sanctions People Involved in Serious Human Rights Abuse Against Vladimir Kara-Murza, Treasury Announces Approval of Up to $890.7 Million to Support Small Business Success Across Three States, Treasury Sanctions CJNG-Run Timeshare Fraud Network. . I am trying to fill out the application. ID.me is asking for my personal information, but Im trying to apply on behalf of my entity. The Act created the State Small Business Credit Initiative, funded with $1.5 billion to strengthen state lending programs that support small businesses and manufacturers. 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. 2021 State Small Business Credit Initiative Application Portal Open A payment confirmation will be sent to the contact person and Authorized Representative, communicating the scheduled date of payment. Notice and Request for Information-State Small Business Credit Note: The State of Texas is currently awaiting SSBCI application approval from the U.S. Department of the Treasury. The initiative features a newly developed refinancing mechanism to strengthen Community Development Financial Institutions lending to small business. Business Incentives | Louisiana Economic Development Ohio Capital Access Program (OCAP) If you are having difficulty registering on SAM.gov, please refer to the Federal Service Desk for assistance with your SAM.gov account. Interested in doing business in Pennsylvania? In addition, the program will assist small businesses that are traditionally marginalized and those that have been impacted by the COVID-19 pandemic. Once the modifications are completed, we will post the revised RFP to this site. Before the end of the year, MBDA plans to . Tribal Governments must initiate and submit their completed SSBCI capital program application by October 31, 2022, at 11:59 p.m. SSBCI - oklahoma.gov *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. State Small Business Credit Initiative: Implementation and Funding Issues Congressional Research Service 2 costs).6 As of December 31, 2016, all 57 participants had received their first tranche, 56 had received their second tranche, and 53 had received their third tranche.7 States were expected to leverage their SSBCI funds to generate new small business lending that is Small Business Loan Program | Department of Economic Development Small Business Loan Program. What was the allocation methodology for SSBCI? Technical Assistance for small businesses will be implemented by technical service providers after U.S. Treasury completes the application and award process. Please refer to the Federal Service Desk for assistance with your SAM.gov account. Pennsylvania Department of Community and Economic Development, https://dced.pa.gov/wp-content/themes/business2015/images/logo-l.png, Pennsylvania State Small Business Credit Initiative (PA-SSBCI). 6.2. The capital program application portal was launched on 11/22/2021 and the technical assistance grant program application portal was launched on 8/1/2022. As part of the American Rescue Plan Act of 2021, the Oklahoma Center for the Advancement of Science and Technology (OCAST) will receive up to $81.6 million in State Small Business Credit Initiative (SSBCI) funding to provide more access to capital for startups and small businesses in Oklahoma. 4.7. 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. Get more information at the U.S. Department of the Treasury State Small Business Credit Initiative Capital Program Policy Guidelines SSBCI program guidelines. 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. System inputs must be in the proper format. Nevada - Employee Directory Fund Tennesseeis expecting to launch in the first part of 2023. for the newsletter for upcoming announcements. CPCFA and IBank have signed an updated joint agreement to implement SSBCI 2.0. To access the reporting guidance, scroll down to the Program Rules and Materials section then click on Capital Program Reporting Guidance. When reporting begins, Entities will submit required reports to Treasury using an online portal that will be available at Treasury.gov/SSBCI. Small Business Initiatives - Enterprise Florida In fact, we've established a special Office of Small Business Affairs to connect business owners with resources that can help spark growth or ease relocation. Responses are due November 3, 2022. What reporting is required? Funding is available from U.S. Treasury in three tranches, and the first tranche of funding - $142 million - is ready for deployment. Treasury will review complete applications as quickly as possible, in the order in which they are received. 2021 State Small Business Credit Initiative Application Updated (5/24/2022), 2021 State Small Business Credit Initiative Application User Guide (5/24/2022), Compliance and Oversight Narrative Template, Assurances of Compliance with Civil Rights Requirement Template, Technical Assistance Program Application Template, Technical Assistance Templates and Certifications, Sample Technical Assistance Notice of Award, 2021 State Small Business Credit Initiative (SSBCI) Application Material, Budget, Financial Reporting, Planning and Performance, Financial Markets, Financial Institutions, and Fiscal Service, Treasury Coupon-Issue and Corporate Bond Yield Curve, Treasury International Capital (TIC) System, Kline-Miller Multiemployer Pension Reform Act of 2014, Taxpayers Will See Improved Service This Filing Season Thanks to Inflation Reduction Act, Disparities in the Benefits of Tax Expenditures by Race and Ethnicity, Racial Differences in Economic Security: Non-Housing Assets, Treasury Sanctions People Involved in Serious Human Rights Abuse Against Vladimir Kara-Murza, Treasury Announces Approval of Up to $890.7 Million to Support Small Business Success Across Three States, Treasury Sanctions CJNG-Run Timeshare Fraud Network.
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