All applications and required supplemental information must be electronically submitted by close of business on August 19, 2022. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. https://home.treasury.gov/policy-issues/small-business-programs/state-smallbusiness-credit-initiative-ssbci. The Pennsylvania State Small Business Credit Initiative (PA-SSBCI) provides funding to economic development partners for the implementation and administration of capital programs to support small businesses through loans and equity investments: The following economic development organizations are eligible to apply for the Revolving Loan Fund component: The following economic development organizations are eligible to apply for the Direct Venture Investment component: Pennsylvania has allocated $125,838,132 of funding to the Revolving Loan Fund component and $125,000,000 of funding to the Direct Venture Investment component. Please check your junk email, confirm your email address with the sender and select to trust all emails from DocuSign. 3.4. All lenders seeking approval as participating lenders in the SSBCI programs must undergo a vetting process whereby the State will evaluate the lender on management and lending experience as well as financial capacity and ability. SSBCI is a federal program administered by the Department of the Treasury that was created to strengthen state programs that support private financing to small businesses. Does anyone understand where we're at with this program or have any other insights? Phone: (615) 741-1888 Currently, non-Tribal applications must have been initiated by December 11, 2021 and completed by February 11, 2022 at 11:59pm ET (Eastern Time). If you are having difficulty registering on SAM.gov, please refer to the Federal Service Desk for assistance with your SAM.gov account. Outreach to qualifying financial institutions, organizations serving small businesses, and community organizations has begun and will continue. If the Finish button is not appearing, it is due to one or more incomplete required fields. - The United States Treasury today announced it has approved up to $112.9 million for Nevada's State Small Business Credit Initiative (SSBCI). These organizations provideloans and business development resources to helpborrowers create and grow sustainable businesses and generate jobs for Georgians. The American Rescue Plan Act (ARPA) provided Treasury with $500 million to deploy technical assistance (TA) for underserved entrepreneurs to access $10 billion in State Small Business Credit Initiative (SSBCI) funding. If you have all the required documents, the process should take only a few minutes. 3.9. It can be used for planning purposes. Technical Assistance to very small businesses and businesses owned and controlled by Socially and Economically Disadvantaged Individuals (SEDI) owned businesses applying for SSBCI and other government programs. So whether you're looking for financing, technical assistance or just a single point of contact to help you navigate the breadth of . ID.mes support website can be found at help.id.me. Trafficking 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. State Small Business Credit Initiative SSBCI Self-Service Resources SSBCI Self-Service Resources View complete set of self-service resources. Our mission is to improve the quality of life for Pennsylvania citizens while assuring transparency and accountability in the expenditure of public funds. Why isnt the system accepting [x] information? Through SSBCI 2.0, Treasury will provide funds to states, the District of Columbia, territories, and Tribal governments . Their website is fsd.gov and you can also call them at 866-606-8220 from 8am - 8pm EST. PROGRAM OVERVIEW INTRO PAGE On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021, which provided $10 billion to fund the State Small Business Credit Initiative (SSBCI). From there, you can make any appropriate edits then click Save. What is ID.me? 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. The initiative features a newly developed refinancing mechanism to strengthen Community Development Financial Institutions lending to small business. The $1.4 billion of the first SSBCI was able to leverage more than $8 billion in private small business loans and investments. The increased access to capital stems from the state's successful application for $15,487,998 in federal funds from the U.S. Department of Treasury through 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. How do I apply for funds through the State Small Business Credit Initiative? When additional information becomes available, it will be posted on the program website at Treasury.gov/SSBCI. Why do I need to sign up at SAM.gov? If you are a Participating Jurisdiction and do not know who your outreach manager is, please contact ssbci_information@treasury.gov. 4.7. On March 11, 2021, President Biden signed The American Rescue Plan Act, which reauthorized and funded the State Small Business Credit Initiative (SSBCI). Please check your browser. It also provides technical assistance to small businesses applying for SSBCI funding. For the latest, follow us on Google News. 2021 State Small Business Credit Initiative (SSBCI) Application Material Documents and resources for the 2021 SSBCI program. 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. 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. Since 2002, the OCAP has assisted countless small businesses with their working capital and fixed-asset financing needs. 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. When reporting begins, Entities will submit required reports to Treasury using an online portal that will be available at Treasury.gov/SSBCI. The funds will be used to implement the five types of programs allowed under SSBCI 2.0. List of SSBCI Capital Programs and Contacts. (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. On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021, which provided $10 billion to fund the State Small Business Credit Initiative SSBCI. 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). In addition, the program will assist small businesses that are traditionally marginalized and those that have been impacted by the COVID-19 pandemic. The U.S. Department of the Treasury has launched the 2021 State Small Business Credit Initiative (SSBCI) portal. Tribal governments may request allocation information by emailing ssbci_information@treasury.gov or by accessing the application portal. It allowed states to design and implement programs to accommodate various business needs. If you are registered in SAM.gov, your UEI number has already been assigned and is viewable in your SAM.gov account. This document also contains the preliminary allocation methodology summary for Tribal governments. 6.2. 4.8. You will need to verify your identity with ID.me. The State Small Business Credit Initiative (SSBCI) was originally created through federal legislation - the Small Business Jobs Act of 2010. During this time, approximately 69 percent of the funding supported . / Am I required to report? The Treasury Portal does not work well on Internet Explorer. What do I do? Per the agreement, the oversight with the U.S. Treasury expired on March 31, 2017. First, verify that your name and initials are correct. This document also contains the preliminary allocation methodology summary for Tribal governments. Detailed questions about the conversion from DUNS number to UEI number should be directed to GSA by creating an incident ticket with the Federal Service Desk online at fsd.gov or by calling (866) 606-8220. 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. How do you get an application for small business loan? The first step to becoming an approved lender is to complete a lender application package and submit it to DCA for review. 4.2. This new portal is referred to as SSBCI Treasury will review complete applications as quickly as possible, in the order in which they are received. The PA Department of Community & Economic Development (DCED) oversees the State Small Business Credit Initiative (SSBCI) in Pennsylvania. This document also contains the preliminary allocation methodology summary for Tribal governments. To create a Treasury Portal user account, please navigate to Portal.Treasury.gov/cares. ET. Please scroll down to the Program Rules and Materials section to access these documents. 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. 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). Small business financing programs, which includes Capital Access programs, Loan Participations, Loan Guarantees, Collateral Support, and Venture Equity programs. It was funded at $1.5 billion and implemented by Treasury and states and territories from 2011 through 2017. Continue with Recommended Cookies. 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. 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). A list of approved economic development organizations will be posted once funding has been allocated to each organization. 3.8. Maine's Path to Recovery The $4.5 billion investment in Maine from the American Rescue Plan (ARP) is an unprecedented opportunity to support recovery from the COVID-19 pandemic, to improve the lives and livelihoods of Maine people, to make investments in solving Maine's long-term challenges, to develop strategies for new opportunities, and to strengthen our state for years to come. CDFA's SSBCI Resource Center is the central source for announcements, events, and information related to the SSBCI program. 3.10. How do I edit my individual account information? Information regarding webinars will be emailed to the points of contact and Authorized Representatives provided in the Notices of Intent. The U.S. Department of Treasury (Treasury) is administering a second installment of the State Small Business Credit Initiative (SSBCI 2.0) as part of the American Jobs Plan. 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. Also please verify that you are using a supported browser. 4.5. Please refer to SAM.gov for further information. 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. 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. The funding will be distributed through various existing business lending programs, including MSBDFA, which received $45 million. System inputs must be in the proper format. We're here to help New York State's small businesses reimagine, rebuild and renew. . An example of data being processed may be a unique identifier stored in a cookie. It is their responsibility to notify financial personnel within their organization on their end of the incoming payment. SSBCI 2.0 funds were allocated as follows: Could be before or after loan or equity infusion, general assistance; to be allocated as a separate grant, Socially and Economically Disadvantaged Businesses (SEDI), Tennessee does not have any tribal governments. 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. In January, the Michigan Strategic Fund board approved the State Small Business Credit Initiative (SSBCI 2.0) Michigan Business Growth Fund 2.0 programs and guidelines to access a minimum of $215.7 million in federal funding allocated to Michigan in 2021 through an American Recovery Plan allocation. 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. Initial payments will occur sometime after the application is fully reviewed and approved and an allocation agreement is signed. PA State Small Business Credit Initiative (PA-SSBCI) Program Guidelines - PA Department of Community & Economic Development Pennsylvania Department of Community and Economic Development MENU DCED Library PA State Small Business Credit Initiative (PA-SSBCI) Program Guidelines PA State Small Business Credit Initiative (PA-SSBCI) Program Guidelines SSBCI funds will be used to create two new programs . 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. These low-interest direct loans help small businesses take steps toward expanding and creating jobs. On April 4, 2022, the Federal Government transitioned from the DUNS number issued by Dun and Bradstreet to the Unique Entity Identifier (UEI). Please refer to help.id.me for more details on that process. Further information on how these allocations were made can be found by accessing in the Capital Program Policy Guidelines on the same page. 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 . How much money have I been preliminarily allocated to receive? 6.5. 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. 2.4. 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). Once there, you can click on Create an ID.me account and follow the instructions. How do I report them? The consent submitted will only be used for data processing originating from this website. Information and updates will beshared on this website. Texas Economic Development P.O. What is the last day I can apply for the Technical Assistance Grant Program? The State Small Business Credit Initiative (SSBCI) is a $10 billion small business program managed by the U.S. Department of the Treasury (Treasury). Lending is provided by participating lenders. Entities are able to manage organizational information, such as legal business name and physical address associated with a UEI number, directly from SAM.gov. 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), Enrolled Loan and Leverage Ratio Tables User Guide, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. You can check the status of your application at any time by logging into the Treasury Portal at Portal.Treasury.gov/cares. Congress appropriated $1.5 billion to the Initiative. The funds SSBCI makes available benefit both small businesses and lenders because of the federal involvement. 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. Topics, More Additional guidance, forms, and other resources with information about the SSBCI program will be posted as details are available. Officials, Human 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. Florida received a total SSBCI allocation of $97,662,349. What Entities are eligible for the Capital Program? Community Development Financial Institutions engaged in small business lending in Georgia. For overall information about the program, including information on requesting funding, please see, For general questions about SSBCI, please email. 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. "Small Business Trends" is a registered trademark. 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. For more information on allocations and allocation methodology, please visit the State Small Business Credit Initiative website at Treasury.gov/SSBCI. 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. Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. Select the Settings link. Connecticut extends a big welcome to small businesses across a wide array of sectors. We believe that access to loan capital is a fundamental component of an equitable, vibrant, and growing economy. The Maryland Department of Housing and Community Development has been designated as the lead agency to administer Maryland's State Small Business Credit Initiative (SSBCI) funds in partnership with the Maryland Department of Commerce and the Maryland Technology Development Corporation . Where can I get more information on the Transition to UEI Number? This initiative was originally created in 2009 under the Obama Administration. Small Business Credit Initiative Launches in Nevada. 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; 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 . This is a considerable increase from the first SSBCI and the $1.4 billion it offered in 2010. Information about the UEI transition can be found by accessing GSA.gov and searching on Unique Entity Identifier Update. Request for Information: Treasury posted a request for information (RFI) in the Federal Register to gather input from the public about SSBCIs Technical Assistance programs. 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). The Treasury Portal supports most modern browsers including Microsoft Edge, Google Chrome, and an updated version of Safari. Helping to build strong, vibrant communities. 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. What is the last day I can apply for the Capital Program? What Entities are eligible for the Technical Assistance Grant Program? 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. *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 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. Responses are due November 3, 2022. 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). Why am I unable to log in? Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. 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 second-round application period for this grant is open until May 25.
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