It can be used for planning purposes. SSBCI funds will be used to create two new programs . 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. 2.7. Can you send me the form to fill out? Currently, Georgias SSBCI offers two programs. 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; 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. While on the DocuSign page and once all required fields have been completed, the Finish button will appear. (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. Through SSBCI 2.0, Treasury will provide funds to states, the District of Columbia, territories, and Tribal governments for small business credit support and investment . 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. Why do I need to sign up at SAM.gov? No action is required if you have an existing and active registration in SAM.gov. State Small Business Credit Initiative | Committee on Jobs, Economic Development, and the Economy Skip to main content Skip to: Content| Footer| Accessibility| Translate this website on Google Translate Search Input California State AssemblyCommittee on Jobs, Economic Development, and the Economy Committee Home JEDE Rules and Jurisdiction MONTGOMERY - Governor Kay Ivey on Tuesday announced that the Alabama Innovation Corporation (Innovate Alabama) opened applications for the Innovate Alabama Supplemental Grant Program.Alabama-based recipients of Phase I and Phase II Federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants are eligible to apply for up to $250,000 in supplemental . debt program, and AssistTN, the technical assistance components. $100 million of that amount has been transferred to MBDA to assist with this effort. What is the last day I can apply for the Capital Program? The funding will be distributed through various existing business lending programs, including MSBDFA, which received $45 million. 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. ID.me is a technology partner to multiple Government Agencies and Healthcare Providers. Entities are able to manage organizational information, such as legal business name and physical address associated with a UEI number, directly from SAM.gov. 4.7. SSBCI will allocate at least $14.73 million to Tribal governments. What Entities are eligible for the Capital Program? 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. What does the Change to UEI Number mean for Recipients? SSBCI, small business credit, direct venture investment, revolving loan, PA-SSBCI, small business loan, PA Department of Community and Economic Development. The program was established in 2010 by the Small Business Jobs Act of 2010 to help states address the difficulties that private businesses faced while securing financing during the nation's economic recovery. 2011 State Small Business Credit Initiative Application Information about the UEI transition can be found by accessing GSA.gov and searching on Unique Entity Identifier Update. The expectation is that this funding will generate the minimum bang for the buck of $10 in private investment for every $1 in federal funding . 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. These low-interest direct loans help small businesses take steps toward expanding and creating jobs. You can check the status of your application at any time by logging into the Treasury Portal at Portal.Treasury.gov/cares. Further information on how these allocations were made can be found by accessing in the Technical Assistance Grant Program Guidelines on the same page. And find a statewide network of centers staffed by people who can walk you through how to apply. Tribal Governments interested in participating in SSBCI were required to submit a Notice of Intent (NOI) to apply for SSBCI funds by December 11, 2021. 4.2. 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. All applications must be submitted electronically through the Treasury Portal at Portal.Treasury.gov/cares. Tribal governments may request allocation information by emailing ssbci_information@treasury.gov or by accessing the application portal. Of the total amount funded, Georgia was allocated $48,024,748. While national mediaoutlets have noted that the US Dept. 3.9. SSBCI 1.0was passed in 2010 and ran from 2011 to 2017. Initial payments will occur sometime after the application is fully reviewed and approved and an allocation agreement is signed. Directory of State of Nevada Employees and Elected Officials with phone numbers, emails and general information. 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. Treasury will review complete applications as quickly as possible, in the order in which they are received. If not, you can change them as needed. The initial SSBCI program (SSBCI 1.0) was funded with $1.5 billion to strengthen state programs that support financing of small businesses. The new version of the SSBCI program provides a combined $10 billion to states, the District of Columbia, territories, and Tribal governments to empower small businesses to access capital needed to invest in job-creating opportunities as the country emerges from the pandemic. 4.1. Florida received a total SSBCI allocation of $97,662,349. Applications to become a subrecipient will be accepted until January 14 . Sign up to receive the latest Pennsylvania news, direct to your inbox. Since 2002, the OCAP has assisted countless small businesses with their working capital and fixed-asset financing needs. The SSBCI is managed by the U.S. Department of the Treasury, and it will be allocating the funds. 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. 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. Tallahassee, FL - Today, the Florida Department of Economic Opportunity (DEO) announced the approval of the state of Florida's State Small Business Credit Initiative (SSBCI) application by the United States Department of the Treasury (U.S. Treasury) for $488 million in funding. 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. 2.4. First, verify that your name and initials are correct. 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. On April 4, 2022, the Federal Government transitioned from the DUNS number issued by Dun and Bradstreet to the Unique Entity Identifier (UEI). 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). A list of approved economic development organizations will be posted once funding has been allocated to each organization. From there, click the Start an Application button located on the top, right-hand corner of the page and follow the instructions. How do I report them? If you did not receive the email, it could be because it was blocked by your Email Server, Firewall, Email Provider or Email Client. Following approval, program documentation, including submission guidelines, will be made available via the TSBCI web portal, which will also be open to accept applications from financial institutions interested in participating in the program. Phone: (615) 741-1888 Please reference the website at Treasury.gov/SSBCI for more information. Copyright 2003 - 2023, Small Business Trends LLC. Applications will be accepted between July 18, 2022 through August 19, 2022. Technical Assistance for small businesses will be implemented by technical service providers after U.S. Treasury completes the application and award process. 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. 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. To access the reporting guidance, scroll down to the Program Rules and Materials section then click on Capital Program Reporting Guidance. For more information, please visit Treasury.gov/SSBCI. of Treasury has released funds to somestates/territories, it is a rolling process. For the Capital Program, Quarterly and Annual Reporting will be required for Recipients of SSBCI funding: For more information on reporting, please refer to the Capital Program Reporting Guidance available on the program website at Treasury.gov/SSBCI. Please note that SAM.gov registration can take up to three weeks; delay in registering in SAM.gov could impact timely payment of funds. Note that application materials, program requirements, and guidance will be revised for the 2021 round of SSBCI. Contact Information Fund Tennesseeis expecting to launch in the first part of 2023. for the newsletter for upcoming announcements. 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. On March 11, 2021, President Biden signed The American Rescue Plan Act, which reauthorized and funded the State Small Business Credit Initiative (SSBCI). The Treasury Portal supports most modern browsers including Microsoft Edge, Google Chrome, and an updated version of Safari. SmallBizLoansProgSummary102517.pdf. 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. Tennessee's SSBCI 2.0 program, calledFund Tennessee, is comprised of InvestTN, the equity component, LendTN, thedebt program, and AssistTN, the technical assistance components. 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.. 2.10. 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. What information do I need to provide in order to receive the funding? 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. 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. Eligible Entities can either create an account (your identity will need to be verified through ID.me) or log in. 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 3.3. 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. If you are having difficulty registering on ID.me, please refer to ID.me Contact Support for assistance. SSBCI was funded with $1.5 billion to strengthen state programs that support financing of small businesses. You will need to verify your identity with ID.me. *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. For more information, please visit theU.S. Department of the Treasuryswebsite. The second-round application period for this grant is open until May 25. 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. Eligible Entities include States, the District of Columbia, Territories, and Tribal Governments. 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. The portal will provide access to $10 billion, which is made possible by the American Rescue Plan Act of 2021. Information and updates will beshared on this website. If the email is still not found, Users can trigger the email to be resent from within the Treasury Portal. Indiana was approved to receive up to $99 million in federal funding through the State Small Business Credit Initiative (SSBCI) to expand access to and increase working capital for Hoosier entrepreneurs, startups and small business owners. Notice, Credit enhancements to strengthen bank loans and reduce risk, Delegated lending model where lenders manage underwriting, Streamlined procedures and quick response to project loan requests. In turn, states were able to adapt to existing economic conditions in their region and disperse the funds accordingly. 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. With SSBCI 2.0, the program will have $10 billion available for creating specialized small business access to capital programs. When approved a business can generally use the funds for: This can vary by state, so make sure to check. SSBCI 1.0 was passed in 2010 and ran from 2011 to 2017. Why am I unable to log in? 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. 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. SSBCI will allocate at least $500 million to Tribal governments. The maximum amount of the credit guaranty is $200,000. CPCFA and IBank have signed an updated joint agreement to implement SSBCI 2.0. Similarly, Treasury will automatically populate your existing account records with the GSA-issued UEI number in the Treasury.gov Application and Compliance portal, as applicable. If you are a Participating Jurisdiction and do not know who your outreach manager is, please contact ssbci_information@treasury.gov. (updated. Applications will be accepted between July 18, 2022 through August 19, 2022. Our mission is to improve the quality of life for Pennsylvania citizens while assuring transparency and accountability in the expenditure of public funds. 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. 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