Colorado State Small Business Credit Initiative 1. Any questions regarding the SSBCI program should be submitted tossbci_information@treasury.gov. SSBCI is expected to create billions of dollars in lending and investments to small businesses that are not getting the support they need to expand and create jobs. Technical Assistance for small businesses will be implemented by technical service providers after U.S. Treasury completes the application and award process. Texas Small Business Credit Initiative - Greg Abbott Small Business Credit Initiative Frequently Asked Questions, https://home.treasury.gov/policy-issues/small-businessprograms/state-small-business-credit-initiative-ssbci/2021-ssbci/program-materials/application-materials, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service, This document contains answers to frequently asked questions regarding the Department of Treasury State Small Business Credit Initiative (SSBCI). This new portal is referred to as SSBCI Quarterly Reports Each participating jurisdiction must submit to Treasury a quarterly report for the first full calendar quarter following the execution of its Allocation Agreement with Treasury and each quarter thereafter. The Act created the State Small Business Credit Initiative (SSBCI) to provide direct support to states for use in programs designed to increase access to credit for small businesses. Territories | U.S. Department of the Treasury (2/23/2023), Treasury Department Announces Puerto Rico to Receive up to $109 Million to Promote Small Business Growth and Entrepreneurship through President Bidens American Rescue (2/9/2023), TA Grant Program Application Deadline Extended for Tribal Governments (12/6/2022), Treasury Announces Seven Additional States to Receive up to $1.5 Billion from U.S. Treasury Department to Promote Small Business Growth and Entrepreneurship through the American Rescue Plan (12/6/2022), Tribal Government Capital Program Application Submissions (11/29/2022). MBDA's Program: Small Business Credit Initiative How do I apply for funds through the State Small Business Credit Initiative? ET. 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. provided $10 billion to fund the State Small Business Credit Initiative SSBCI. 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. Interested in doing business in Pennsylvania? For more information, visit the program website at Treasury.gov/SSBCI. Can you send me the form to fill out? Information regarding webinars will be emailed to the points of contact and Authorized Representatives provided in the Notices of Intent. 4.8. If you are an eligible jurisdiction and did not receive an email, please contact Treasury at: ssbci_information@treasury.gov. (VSBFA) is the eligible entity that will apply for SSBCI 2.0 funds. 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. The result was 190,000 jobs that were created or retained because of the support. What does the Change to UEI Number mean for Recipients? The Small Business Jobs Act of 2020, signed into law on September 27, 2010, was created to help small businesses create jobs to drive the economic recovery. 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"). On March 11, 2021, the U.S. Congress enacted the American Rescue Plan Act, which, in part, provides $10 billion to fund the State Small Business Credit Initiative (SSBCI). For more information, visit the program website at Treasury.gov/SSBCI. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. How do I know if a specific use is eligible? While national mediaoutlets have noted that the US Dept. (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. For more information, please see the Capital Program Policy Guidelines and FAQs on the program website at Treasury.gov/SSBCI. The Treasury Portal does not work well on Internet Explorer. #stimulusnews #stimulusupdate #funding$10 BILLION SSBCI STATE FUNDING FOR SMALL BUSINESS | SHE BOSS TALKOn March 11, 2021, President Biden signed The America. Sign up to receive the latest Pennsylvania news, direct to your inbox. The Treasury Portal supports most modern browsers including Microsoft Edge, Google Chrome, and an updated version of Safari. The funding will be distributed through various existing business lending programs, including MSBDFA, which received $45 million. 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 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. /. Businesses will apply for funding through their local economic development organization. Recent SSBCI News and Announcements from the last 60 days: Treasury Announces Approval of Up to $890.7 Million to Support Small Business Success Across Three States (3/2/2023), Treasury Announces Approval of Up to $353.4 Million to Support Small Business Success Across Four States | U.S. Department of the Treasury (2/27/2023), Treasury Announces Approval of Up to $339 Million to Support Small Business Success Across Three States and Two U.S. State Small Business Credit Initiative (SSBCI 2.0) - Tennessee This initiative was originally created in 2009 under the Obama Administration. 3.4. Do I really have to provide ID.me with my personal information? Florida received a total SSBCI allocation of $97,662,349. Initial payments will occur sometime after the application is fully reviewed and approved and an allocation agreement is signed. When approved a business can generally use the funds for: This can vary by state, so make sure to check. SSBCI provides Eligible Jurisdictions funding for: For more information, visit the program website at Treasury.gov/SSBCI. 2.5. SSBCI - California Infrastructure Economic Development Bank (IBank) Does anyone understand where we're at with this program or have any other insights? Required supplemental information outlined in Appendix I of the program guidelines must be attached electronically to the application as directed on the Addenda tab. Florida's State Small Business Credit Initiative - What is It and What My entity does not have a UEI number. The Act created the State Small Business Credit Initiative (SSBCI) to provide direct support to states for use in programs designed to increase access to credit for small businesses. The second-round application period for this grant is open until May 25. How much money have I been preliminarily allocated to receive? Topics, More How do I edit my individual account information? Use the Auto Navigation feature (yellow tab) to help you navigate. 5.1. . For more information on allocations and allocation methodology, please visit the State Small Business Credit Initiative website at Treasury.gov/SSBCI. The SSBCI program works withapproved lenders to provide financial support to small businesses. What was the allocation methodology for SSBCI? 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.. In addition, the program will assist small businesses that are traditionally marginalized and those that have been impacted by the COVID-19 pandemic. Please scroll down to the Program Rules and Materials section to access these documents. Fund Tennesseeis expecting to launch in the first part of 2023. for the newsletter for upcoming announcements. PA State Small Business Credit Initiative (PA-SSBCI) Program Guidelines Preliminary allocations were determined in advance by Treasury. The Small Business Jobs Act of 2010 (the "Act") was signed into law on September 27, 2010. 8.3. Small Businesses - ct Their website is fsd.gov and you can also call them at 866-606-8220 from 8am - 8pm EST. IBank is the lead applicant and they have signed an allocation agreement with U.S. Treasury. State Small Business Credit Initiative (SSBCI) 2.0 Atlanta, GA 30329 What is the Unique Entity Identifier (UEI) number? The State Small Business Credit Initiative (SSBCI) The funds will be used to implement the five types of programs allowed under SSBCI 2.0. 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. 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. The maximum amount of the credit guaranty is $200,000. The Georgia Loan Participation Program (GA LPP) will enable lenders to provide more loans to businesses since the lender is able to diversity its risk by sharing exposure with the State. Programs - Indiana to get your personalized list of resources, build your own business model canvas, or locate resources near you. TheU.S. Department of Treasury (Treasury)is administering a second installment of theState Small Business Credit Initiative (SSBCI 2.0)as part of theAmerican Jobs Plan. 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.
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