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SSBCI, which is administered by the U.S. Department of Treasury (Treasury), provides funding to be used for credit and investment programs for existing small businesses and start-ups. 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. This new portal is referred to as SSBCI 3.4. It can be used for planning purposes. 3.3. Community Development Financial Institutions engaged in small business lending in Georgia. When the Finish button becomes active, you can complete the signing. 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. FAQ - Indiana December 6, 2021 Delaney SextonContributing Editor Main Street Monday - State Small Business Credit Initiative's 2021 Application Portal is Launched The U.S. Department of Treasury opened the SSBCI portal that is going to provide $10 billion to create specialized small business programs and increase access to capital. Individuals, Small Businesses, or Wrong Program, 6. We and our partners use cookies to Store and/or access information on a device. Helping to build strong, vibrant communities. 1. provided $10 billion to fund the State Small Business Credit Initiative SSBCI. Tribal governments may request allocation information by emailing ssbci_information@treasury.gov or by accessing the application portal. Small Business Loan Program. There does not seem to be a portal for small businesses yet - or . 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, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. Texas Small Business Credit Initiative - Greg Abbott 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. For more information, please visit theU.S. Department of the Treasuryswebsite. 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; CPCFA and IBank have signed an updated joint agreement to implement SSBCI 2.0. 2.5. Information and updates will beshared on this website. ET. This California paid sick leave law provides most employees in the state with paid time off if they need to be absent from work for medical reasons or to take care of an ailing family member. If you are having difficulty registering on SAM.gov, please refer to the Federal Service Desk for assistance with your SAM.gov account. Technical Assistance Grant Program Preliminary Allocations to Tribal Governments - Methodology Summary, Technical Assistance Grant Program Tribal Consult Summary, Capital Program Policy Guidelines (Updated 12/15/2022), Frequently Asked Questions SSBCI Capital and TA Grant Programs (Updated 12/8/2022), Capital Program National Compliance Standards (11/17/2022), Capital Program Reporting Guidance (Updated 9/30/2022), Technical Assistance Program Application Template, Sample Technical Assistance Notice of Award, Capital Program Sample Certifications (Updated 7/28/2022), Preliminary Technical Assistance Grant Program Allocation Table (4/28/2022), Technical Assistance Grant Program Guidelines (4/28/2022), Allocations for States Territories Washington DC and Tribal Governments, Preliminary Allocation to Tribal Governments Methodology Summary (Updated 11/10/2021). 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). 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. 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. For more information, visit the program website at Treasury.gov/SSBCI. 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. In addition, the program will assist small businesses that are traditionally marginalized and those that have been impacted by the COVID-19 pandemic. For small businesses, it offers attractive terms for loans, flexible resources for funding with little red tape, fast access to funds, and a quick answer to a loan request. On April 4, 2022, the Federal Government transitioned from the DUNS number issued by Dun and Bradstreet to the Unique Entity Identifier (UEI). After reviewing the RFI, commenters can post their comments on Regulations.gov. What do I do? The State Small Business Credit Initiative (SSBCI) What Entities are eligible for the Technical Assistance Grant Program? 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. And find a statewide network of centers staffed by people who can walk you through how to apply. 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. 5.1. The U.S. Department of the Treasury has launched the 2021 State Small Business Credit Initiative (SSBCI) portal. This program will provide a combined $10 billion for small business credit support and investment programs to: It provides secure digital identity verification to those Government Agencies and Healthcare Providers to make sure that you are you and not someone pretending to be you when you request access to online services. For more information on allocations and allocation methodology, please visit the State Small Business Credit Initiative website at Treasury.gov/SSBCI. The funds will be used to implement the five types of programs allowed under SSBCI 2.0. Initial payments will occur sometime after the application is fully reviewed and approved and an allocation agreement is signed. New York State Small Business Revolving Loan Fund Round 2. 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. 2011 State Small Business Credit Initiative Application 2021 State Small Business Credit Initiative (SSBCI) Application These participating lendersundergo a vetting process whereby the State will evaluate the lender on management and lending experience as well as financial capacity and ability. 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. 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. "Small Business Trends" is a registered trademark. You can find information on those programs on the Treasury.gov website at http://treasury.gov/Recovery. 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). What are the eligible uses for these funds? What Entities are eligible for the Capital Program? What was the allocation methodology for SSBCI? Overview - Indiana Note: The State of Texas is currently awaiting SSBCI application approval from the U.S. Department of the Treasury. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. Treasury Announces Eleven Additional States to Receive up to $1 Billion from U.S. Treasury Department to Promote Small Business Growth and Entrepreneurship through the American Rescue Plan (10/11/2022), California to Receive up to $1.1 Billion from U.S. Treasury Department to Promote Small Business Growth and Entrepreneurship through the American Rescue Plan (9/21/2022), Capital Program Application Deadline Extended for Tribal Governments (Updated 8/26/2022), Treasury Approves Four Additional State Plans to Support Underserved Entrepreneurs and Small Business Growth Through the State Small Business Credit Initiative (8/19/2022), 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), Treasury Approves Nine Additional State Plans to Support Underserved Entrepreneurs and Small Business Growth Through the State Small Business Credit Initiative (7/18/2022), Treasury Announces First State Small Business Credit Initiative Awards to Support Underserved Entrepreneurs and Small Business Growth in Key Industries (5/19/2022), Treasury Announces Plans to Deploy $300 Million in Technical Assistance to Underserved Entrepreneurs and Very Small Businesses through the State Small Business Credit Initiative (4/28/2022), Treasury Launches Historic Equity Measurements for American Rescue Plan Small Business Investments Program - Press Release 3/3/2022, Demographics-Related Reporting Requirements: Interim Final Rule (IFR), Tribal government Notice of Intent (NOI) Submissions(Updated 1/31/2022). 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. Use the Auto Navigation feature (yellow tab) to help you navigate. Washington state receives $163.4 million to fund innovative small