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For more information on allocations and allocation methodology, please visit the State Small Business Credit Initiative website at Treasury.gov/SSBCI. New York State Small Business Credit Initiative (SSBCI) Treasury will review complete applications as quickly as possible, in the order in which they are received. After reviewing the RFI, commenters can post their comments on Regulations.gov. 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. State Small Business Credit Initiative | ACA - Angel Capital Association The State Small Business Credit Initiative (SSBCI) was originally created through federal legislation - the Small Business Jobs Act of 2010. 2021 State Small Business Credit Initiative (SSBCI) Application Material Documents and resources for the 2021 SSBCI program. Before the end of the year, MBDA plans to . 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. This means small business owners that otherwise wouldnt get any loans could qualify under SSBCI. State Small Business Credit Initiative Created as part of the Small Business Jobs Act of 2010, SSBCI was designed by the federal government to help states strengthen existing loan and equity programs and/or create new programs that support financing small businesses. The second-round application period for this grant is open until May 25. 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. That will bring up the Account Update screen. 4.9. ID.me is a technology partner to multiple Government Agencies and Healthcare Providers. Your UEI number is located below the DUNS number on your Entity Registration Record. PDF VSBFA SSBCI 2 - Virginia 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. Treasury Announces Approval of Up to $353.4 Million to Support Small State Small Business Credit Initiative (SSBCI) Hello folks. A payment confirmation will be sent to the contact person and Authorized Representative, communicating the scheduled date of payment. GHFA EDFI/Georgia Department of Community Affairs (DCA) is the administrator of the program. 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). How do I edit my individual account information? Tribal governments may request allocation information by emailing ssbci_information@treasury.gov or by accessing the application portal. This is a considerable increase from the first SSBCI and the $1.4 billion it offered in 2010. Atlanta, GA 30329 STEM-based companies can receive up to $100,000 for eligible expenses, and other businesses can get up to $50,000. There does not seem to be a portal for small businesses yet - or . By clicking the continue button or continuing to use our website, you are consenting to our, Certified Economic Development Organizations, Educational Improvement Tax Credit Program (EITC), Opportunity Scholarship Tax Credit Program (OSTC), Neighborhood Assistance Program, Enterprise Zone Tax Credit (NAP/EZP), Entertainment Economic Enhancement Program (EEEP), Pennsylvania Capital Access Program (PennCAP), HOME Investment Partnership Program (HOME), H2O PA - Water Supply, Sanitary Sewer and Storm Water Projects, Shapiro Administration Awards New Funding to Increase In-Demand Electrical Worker Apprentices in Pennsylvania, Shapiro Administration Announces Nearly $2 Million in New PIDA Loans to Spur Business Growth, Job Creation in Two Counties, DCED Legislative Budget Presentation FY 2022-23, Certified Economic Development Organizations (CEDOs), Community Development Financing Institutions (CDFIs). What are the eligible uses for these funds? You will need to provide all of the information listed in the Treasury Portal at Portal.Treasury.gov/cares. 4.8. For more information, please visit theU.S. Department of the Treasuryswebsite. 2.4. CDFA's SSBCI Resource Center is the central source for announcements, events, and information related to the SSBCI program. 3.4. Of the total amount funded, Georgia was allocated $48,024,748. Through SSBCI, Treasury will provide funds to states, the District of Columbia, territories, and . The mission of the Department of Community and Economic Development (DCED) is to foster opportunities for businesses to grow and for communities to succeed and thrive in a global economy. What Is the California Paid Sick Leave Law? | Gusto State Small Business Credit Initiative SSBCI Self-Service Resources SSBCI Self-Service Resources View complete set of self-service resources. /. 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. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. Further information on how these allocations were made can be found by accessing in the Technical Assistance Grant Program Guidelines on the same page. Notice and Request for Information-State Small Business Credit If you did not receive the email, it could be because it was blocked by your Email Server, Firewall, Email Provider or Email Client. While national mediaoutlets have noted that the US Dept. Eligible Entities can either create an account (your identity will need to be verified through ID.me) or log in. 4.1. Incentive Programs | Texas Economic Development - Greg Abbott Please refer to help.id.me for more details on that process. What do I do? Note:These funds are not available in Tennessee, yet. Delaware Capital Access Program and State Small Business Credit Initiative Participation Loan help lenders to provide financing to businesses deemed too risky for the traditional banking model due to minor collateral or credit issues. 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. FAQ - Indiana Helping to build strong, vibrant communities. 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). 4.6. The Small Business Jobs Act of 2010 (the Act) became law in the fall of 2010. / Am I required to report? Initial payments will occur sometime after the application is fully reviewed and approved and an allocation agreement is signed. Entities receive payment to Fed ACH (Automated Clearing House) and Fedwire bank accounts. State Small Business Credit Initiative (SSBCI 2.0) - Tennessee Our mission is to bring you "Small business success delivered daily.". The funds will be sent to California over a period of eight years, in three separate installments (tranches). MT SSBCI 2.0 Loan Participation Program Please reference the website at Treasury.gov/SSBCI for more information. This new portal is referred to as SSBCI Ohio Capital Access Program (OCAP) ID.mes support website can be found at help.id.me. All existing Entities with an existing and active registration with SAM.gov will be assigned a UEI number that can be used for reporting activities. Addresses inequitable capital access by bridging the financing gaps facing new companies, under-banked communities and small businesses. SmallBizLoansProgSummary102517.pdf. Small business financing programs, which includes Capital Access programs, Loan Participations, Loan Guarantees, Collateral Support, and Venture Equity programs. Please reference the website at Treasury.gov/SSBCI for more information. 2.9. Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. 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. 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). Information regarding webinars will be emailed to the points of contact and Authorized Representatives provided in the Notices of Intent. We're here to help New York State's small businesses reimagine, rebuild and renew. The $1.4 billion of the first SSBCI was able to leverage more than $8 billion in private small business loans and investments. 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. Colorado State Small Business Credit Initiative 6.1. Pennsylvania State Small Business Credit Initiative (PA-SSBCI) 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. Minnesota has been approved by the U. S. Department of the Treasury for up to $97 million for small business financing support. What does the Change to UEI Number mean for Recipients? Information about the UEI transition can be found by accessing GSA.gov and searching on Unique Entity Identifier Update. To find the self-service options, please go to ID.me, select My Account, select Sign In then select the Forgot password link and follow the instructions. American Rescue Plan: What Is It? How Will it Affect Your Business? | Gusto SSBCI will allocate at least $14.73 million to Tribal governments. Overview. Apply now Overview: Under the Consolidated Appropriations Act of 2021, $50 million was provided to the United States Department of Agriculture (USDA), Agriculture Marketing Service (AMS) for the Seafood Processors Pandemic Response and Safety (SPRS) Block Grant Program. The Ohio Capital Access Program (OCAP) is a loan portfolio insurance program, similar to a loan guarantee, that enables small businesses to obtain credit to help them grow and expand their businesses. For more information, please visit Treasury.gov/SSBCI. The primary objective of the SSBCI is to enhance new or existing state programs that provide access to capital for small businesses and manufacturers. Businesses will apply for funding through their local economic development organization. The State Small Business Credit Initiative (SSBCI) All said the SSBCI was responsible for helping more than 16,900 small businesses. Please refer to help.id.me for more details on the verification process. If you are having difficulty registering on ID.me, please refer to ID.me Contact Support for assistance. 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. PA State Small Business Credit Initiative (PA-SSBCI) Program Guidelines Of the total amount funded, Georgia was allocated $48,024,748. These low-interest direct loans help small businesses take steps toward expanding and creating jobs. What Entities are eligible for the Technical Assistance Grant Program? How do I receive payment (Wire, ACH)? Virginia Small Business Financing Authority To ensure equitable access across the state, DCED has contracted with economic development partners at the regional and local levels to administer loan and equity programs. In addition, the program will assist small businesses that are traditionally marginalized and those that have been impacted by the COVID-19 pandemic. My entity does not have a UEI number. SSBCI, small business credit, direct venture investment, revolving loan, PA-SSBCI, small business loan, PA Department of Community and Economic Development. Also please make sure you are using a supported browser. *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. Nevada Employee Directory (NED). 4.2. Housing Choice Voucher Program (formerly known as Section 8), Georgia Balance of State Continuum of Care (BoS CoC), GHFA Permanent Supporting Housing (formerly known as Shelter Plus Care) (PSH), Homeless Management Information System (HMIS), Housing Opportunities for Persons with AIDS (HOPWA), HUD 811 Project Rental Assistance Program (HUD 811), Reentry Partnership Housing Program (RPH), State Housing Trust Fund for the Homeless (HTF), Community Development Block Grant Disaster Recovery Program (CDBG-DR), Community Development Block Grant Coronavirus (CDBG-CV), Community Development Block Grants (CDBG), Downtown Development Revolving Loan Fund (DDRLF), Regional Economic Business Assistance (REBA), State Small Business Credit Initiative (SSBCI), Regional Economic Assistance Program (REAP), Construction Codes and Housing Development, Georgia Initiative for Community Housing (GICH), HOME Investment Partnership Program (HOME), Governing Statutes, Regulations, and Guidance, Government Management Indicators (GOMI) Survey, Report of Local Government Finance (RLGF), Georgia Commission for Service and Volunteerism, Georgia SBCG (Small Business Credit Guaranty), History - State Small Business Credit Initiative, Georgia Department of Economic Development, University of Georgia Small Business Development Center, CDFIs Engaged in Small Business Lending in Georgia, How do I make a GORA "open records" request, Popular 7.2. State Small Business Credit Initiative / Minnesota Department of An ACH routing number is required. The new bill has allocated $10 billion to the State Small Business Credit Initiative (SSBCI), which provides fundingthrough lendersto support small businesses (defined as those with under 500 employees) and nonprofits to expand economic opportunities. All rights reserved. Small Businesses - ct 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. Please note that Treasury has assigned individual Outreach Managers to each State, Territory, and Tribal Government to serve as an individualized point of contact for the SSBCI Program. 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. Ohio was approved by the U.S. Department of Treasury to receive funding through the federal State Small Business Credit Initiative (SSBCI) to support small businesses across the state. For the latest, follow us on Google News. 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), Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. For more information, please visit the U.S. Department of the Treasury's website. Their website is fsd.gov and you can also call them at 866-606-8220 from 8am - 8pm EST. 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"). 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 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. For more information on submitting reports for the Capital Program, please access the program website at Treasury.gov/SSBCI, scroll down to the Program Rules and Materials section then click on Capital Program Reporting Guidance. Please contact our officeto obtain an application package. If you are a Participating Jurisdiction and do not know who your outreach manager is, please contact ssbci_information@treasury.gov. The funds SSBCI makes available benefit both small businesses and lenders because of the federal involvement. Can you send me the form to fill out? It will fund state, territory, and Tribal government small business credit support and investment programs. 6.2. 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. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. You will need to verify your identity with ID.me. Maine Economic Recovery Grants $10 BILLION SSBCI STATE FUNDING FOR SMALL BUSINESS - YouTube For more information, please see the Capital Program Policy Guidelines and FAQs on the program website at Treasury.gov/SSBCI. 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). State Small Business Credit Initiative (SSBCI) 2.0 Required supplemental information outlined in Appendix I of the program guidelines must be attached electronically to the application as directed on the Addenda tab. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. For overall information about the program, including information on requesting funding, please see, For general questions about SSBCI, please email. These State Small Business Credit Initiative funds are awarded to Delaware, Kentucky, Tennessee, and Wyoming to support local small business financing and investment programs WASHINGTON Today, the U.S. Department of the Treasury announced the approval of four additional state plans for up to $353.4 million in funding under the State Small Business Credit Initiative (SSBCI) in President . On March 11, 2021, President Biden signed The American Rescue Plan Act, which reauthorized and funded the State Small Business Credit Initiative (SSBCI). https://home.treasury.gov/policy-issues/small-business-programs/state-smallbusiness-credit-initiative-ssbci. Home ->> CPCFA ->> State Small Business Credit Initiative, Please send program inquiries to ssbci@treasurer.ca.gov. The Treasury Portal does not work well on Internet Explorer. Around the State: March 2023 - Nevada Business Magazine Governor Ivey Announces Innovate Alabama's Launch of Small Business List of SSBCI Capital Programs and Contacts. State Small Business Credit Initiative - California State Treasurer The SSBCI program works withapproved lenders to provide financial support to small businesses. SSBCI - California Infrastructure Economic Development Bank (IBank) This program will provide a combined $10 billion for small business credit support and investment programs to: When the Finish button becomes active, you can complete the signing. SSBCI 1.0was passed in 2010 and ran from 2011 to 2017. Tribal Governments must initiate and submit their completed SSBCI capital program application by October 31, 2022, at 11:59 p.m. Responses are due November 3, 2022. All applications and required supplemental information must be electronically submitted by close of business on August 19, 2022.