The PA Department of Community & Economic Development (DCED) oversees the State Small Business Credit Initiative (SSBCI) in Pennsylvania. An example of data being processed may be a unique identifier stored in a cookie. ID.mes support website can be found at help.id.me. 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. / How do I reset my password? Annual Reports Starting in 2023, each participating jurisdiction must submit to Treasury an annual report for each calendar year by March 31 of the following year. Helping NYS Businesses Build Back. PA State Small Business Credit Initiative (PA-SSBCI) Program Guidelines The program will allow for a veteran, active or reserve military, or Gold Star spouse who have a fifty-one percent ownership in a business to apply for and gain certification to recognize and promote their businesses. 6.1. Currently, Georgias SSBCI offers two programs. 2011 State Small Business Credit Initiative Application 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. The U.S. Department of the Treasury has launched the 2021 State Small Business Credit Initiative (SSBCI) portal. Eligible Entities can either create an account (your identity will need to be verified through ID.me) or log in. What steps do I need to complete in SAM.gov? The maximum amount of the credit guaranty is $200,000. *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. SSBCI - Maryland.gov Enterprise Agency Template 2.5. Please refer to help.id.me for more details on that process. When reporting begins, Entities will submit required reports to Treasury using an online portal that will be available at Treasury.gov/SSBCI. 4.5. Ohio initially will receive $52.4 million to support socially and economically disadvantaged individuals and very small businesses. Community Development Financial Institutions engaged in small business lending in Georgia. 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. The best browsers to use are Microsoft Edge, Google Chrome or an updated version of Safari. 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. Please check your browser. Why do I need to sign up at SAM.gov? Texas Small Business Credit Initiative - Greg Abbott From there, click the Start an Application button located on the top, right-hand corner of the page and follow the instructions. Treasury will review complete applications as quickly as possible, in the order in which they are received. 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. CDFA's SSBCI Resource Center is the central source for announcements, events, and information related to the SSBCI program. Note: The State of Texas is currently awaiting SSBCI application approval from the U.S. Department of the Treasury. 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). 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. 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. Economic development organizations must submit the online Electronic Single Application (ESA) for assistance. My entity does not have a UEI number. 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). Tribal Governments must initiate and submit their completed SSBCI capital program application by October 31, 2022, at 11:59 p.m. Please scroll down to the Program Rules and Materials section to access these documents. 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. Box 12428 Austin, Texas 78711 (512) 936-0100 First, verify that your name and initials are correct. 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. 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. 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). Do I really have to provide ID.me with my personal information? No action is required if you have an existing and active registration in SAM.gov. Contact our office to inquire about becoming a participating lender. What Entities are eligible for the Capital Program? 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. The State Small Business Credit Initiative - Federal Reserve Bank of St Copyright 2003 - 2023, Small Business Trends LLC. Maryland has been approved by the U.S. Treasury to administer up to $198 million in federal assistance, including subsequent performance-based funds, through 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. State Small Business Credit Initiative | NC Rural Center More importantly, 80% of the loans and investments of the first SSBCI went to small businesses with 10 or fewer employees. 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. 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. When approved a business can generally use the funds for: This can vary by state, so make sure to check. 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. 4.3. Responses are due November 3, 2022. State Small Business Credit Initiative (SSBCI) 2.0 Virginia Small Business Financing Authority Email instructions and a link were emailed to eligible jurisdiction point(s) of contact the same day each portal was launched. CPCFA and IBank have signed an updated joint agreement to implement SSBCI 2.0. Once the modifications are completed, we will post the revised RFP to this site. The funds will also support recipient jurisdictions in promoting American entrepreneurship and democratizing access to startup capital across the country, including in underserved communities. Lending is provided by participating lenders. Their website is fsd.gov and you can also call them at 866-606-8220 from 8am - 8pm EST. We recommend you review their webpage for full instructions. For more information, visit the program website at Treasury.gov/SSBCI. 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 long will it take me to register with ID.me? Please reference the website at Treasury.gov/SSBCI for more information. /. Home ->> CPCFA ->> State Small Business Credit Initiative, Please send program inquiries to ssbci@treasurer.ca.gov. I am trying to fill out the application. Eligibility and Preliminary Allocations, 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.