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). This is primarily due to the hands-off approach of the program by allowing states the flexibility to design their own small business support programs. Officials, Human Email instructions and a link were emailed to eligible jurisdiction point(s) of contact the same day each portal was launched. 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. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. 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. Directory of State of Nevada Employees and Elected Officials with phone numbers, emails and general information. Outreach to qualifying financial institutions, organizations serving small businesses, and community organizations has begun and will continue. 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. When approved a business can generally use the funds for: This can vary by state, so make sure to check. Eligible Entities can either create an account (your identity will need to be verified through ID.me) or log in. Minnesota will receive funds in three disbursements over several years. First, verify that your name and initials are correct. What steps do I need to complete in ID.me? TheU.S. Department of Treasury (Treasury)is administering a second installment of theState Small Business Credit Initiative (SSBCI 2.0)as part of theAmerican Jobs Plan. Tribal governments may request allocation information by emailing ssbci_information@treasury.gov or by accessing the application portal. 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. 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). 4.1. Individuals, Small Businesses, or Wrong Program, 6. 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. 4.7. ET. 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. Initial payments will occur sometime after the application is fully reviewed and approved and an allocation agreement is signed. 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. No action is required if you have an existing and active registration in SAM.gov. The initial SSBCI program (SSBCI 1.0) was funded with $1.5 billion to strengthen state programs that support financing of small businesses. It also provides technical assistance to small businesses applying for SSBCI funding. 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. 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. All Entities can obtain a Unique Entity Identifier (UEI) number on the Sam.gov website and register for an account if needed: 4.4. Please note that SAM registration can take up to three weeks; delay in registering in SAM.gov could impact timely payment of funds. This is to deliver capital to small businesses that urgently need it in the U.S. The PA Department of Community & Economic Development (DCED) oversees the State Small Business Credit Initiative (SSBCI) in Pennsylvania. 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. 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. When reporting begins, Entities will submit required reports to Treasury using an online portal that will be available at Treasury.gov/SSBCI. A payment confirmation will be sent to the contact person and Authorized Representative, communicating the scheduled date of payment. The maximum amount of the credit guaranty is $200,000. (VSBFA) is the eligible entity that will apply for SSBCI 2.0 funds. Use the Auto Navigation feature (yellow tab) to help you navigate. Texas Economic Development P.O. How long will it take me to register with SAM.gov? In addition, the program will assist small businesses that are traditionally marginalized and those that have been impacted by the COVID-19 pandemic. When additional information becomes available, it will be posted on the program website at Treasury.gov/SSBCI. Required supplemental information outlined in Appendix I of the program guidelines must be attached electronically to the application as directed on the Addenda tab. These low-interest direct loans help small businesses take steps toward expanding and creating jobs. Atlanta, GA 30329 All applications must be submitted electronically through the Treasury Portal at Portal.Treasury.gov/cares. 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). / What is the status of my application? - The United States Treasury today announced it has approved up to $112.9 million for Nevada's State Small Business Credit Initiative (SSBCI). 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. Registration with SAM.gov is required for any Entity that wants to do business with the federal government. Please refer to help.id.me for more details on that process. Preliminary allocations were determined in advance by Treasury. All applications and required supplemental information must be electronically submitted by close of business on August 19, 2022. The U.S. Department of the Treasury has launched the 2021 State Small Business Credit Initiative (SSBCI) portal. 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. 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. Quarterly reports must be submitted within 30 days after the end of each quarterly reporting period (excluding the quarterly reporting period ending on the expiration date of the Allocation Agreement). The $1.4 billion of the first SSBCI was able to leverage more than $8 billion in private small business loans and investments. The funding will be distributed through various existing business lending programs, including MSBDFA, which received $45 million. Information about the UEI transition can be found by accessing GSA.gov and searching on Unique Entity Identifier Update. When the Finish button becomes active, you can complete the signing. The funds will be used to implement the five types of programs allowed under SSBCI 2.0. 4.9. to get your personalized list of resources, build your own business model canvas, or locate resources near you. During this time, approximately 69 percent of the funding supported . Please refer to help.id.me for more details on the verification process. The Small Business Jobs Act of 2010 (the Act) became law in the fall of 2010. SSBCI funds will be used to create two new programs . The Treasury Portal supports most modern browsers including Microsoft Edge, Google Chrome, and an updated version of Safari. 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. 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. 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. 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. View complete set of self-service resources. This means small business owners that otherwise wouldnt get any loans could qualify under SSBCI. 8.3. The Treasury Portal does not work well on Internet Explorer. And find a statewide network of centers staffed by people who can walk you through how to apply. This document also contains the preliminary allocation methodology summary for Tribal governments. 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. After reviewing the RFI, commenters can post their comments on Regulations.gov. Please refer to SAM.gov for further information. The first time you click a SIGN or INITIAL field, you are asked to adopt a signature and initials. 3.2. This new portal is referred to as SSBCI (updated. 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(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. The funds will also support recipient jurisdictions in promoting American entrepreneurship and democratizing access to startup capital across the country, including in underserved communities. It will fund state, territory, and Tribal government small business credit support and investment programs. 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. It was funded at $1.5 billion and implemented by Treasury and states and territories from 2011 through 2017. 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"). 2.8. Email: ecd.SSBCI2.0@tn.gov, Go to Economic & Community Development (ECD), is administering a second installment of the. What is ID.me? Small Business Owners Struggling with Inflation, How to Support Small Business on Small Business Saturday, 10 New Years Resolutions to Consider for Your Small Business in 2021, Which Small Businesses Will Thrive in 2021, $6.5 billion for State allocation $6 billion based on unemployment and half a billion dollars based on percentage of companies with less than ten employees, $1.5 billion for businesses owned and controlled by socially and economically disadvantaged individuals, $1 billion for incentives to States/Tribal governments that demonstrate robust support for businesses owned and controlled by socially and economically disadvantaged individuals, Half a billion dollars for technical assistance programs, Half a billion dollars for Tribal governments, Purchase or construction renovations of non-passive real estate. All applications and required supplemental information must be electronically submitted by close of business on August 19, 2022. SSBCI was funded with $1.5 billion to strengthen state programs that support financing of small businesses. What Entities are eligible for the Capital Program? For more information, please visit Treasury.gov/SSBCI. Nevada has become the first state in the U.S. to launch a novel microloan program under the federal State Small Business Credit Initiative (SSBCI). Economic development organizations must submit the online Electronic Single Application (ESA) for assistance. The funds SSBCI makes available benefit both small businesses and lenders because of the federal involvement. Documents and resources for the 2021 SSBCI program. We're here to help New York State's small businesses reimagine, rebuild and renew. Once there, you can click on Create an ID.me account and follow the instructions. 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. . Information regarding webinars will be emailed to the points of contact and Authorized Representatives provided in the Notices of Intent. 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. 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. 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. 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 is the second SSBCI initiative - Minnesota received $15 million through the Small Business Jobs Act of 2010. If the Finish button is not appearing, it is due to one or more incomplete required fields. The initiative is a partnership between the federal government and individual states and provides funding to state programs that offer financing and technical assistance to small businesses. 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 . / Am I required to report? 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.