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 new funding will be used to launch an updated version of the state's highly successful Small Business Credit Initiative (SSBCI) program . New SAM.gov registrants will be assigned a UEI number as part of their SAM registration. All said the SSBCI was responsible for helping more than 16,900 small 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. If you are an eligible jurisdiction and did not receive an email, please contact Treasury at: ssbci_information@treasury.gov. This document also contains the preliminary allocation methodology summary for Tribal governments. 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. 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 . If you are a business or a lending institution that is interested in participating in small business financing programs through the SSBCI, please go to http://treasury.gov/ssbci and click on the List of Proposed Programs and Contacts link to locate the State or Territorial contact in your area. 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. Ohio initially will receive $52.4 million to support socially and economically disadvantaged individuals and very small businesses. How long will it take me to register with SAM.gov? IBank is the lead applicant and they have signed an allocation agreement with U.S. Treasury. Indicate if you want to select a preformatted signature style or if you will draw your signature. What was the allocation methodology for SSBCI? Initial payments will occur sometime after the application is fully reviewed and approved and an allocation agreement is signed. 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. Individuals, Small Businesses, or Wrong Program, 6. Businesses will apply for funding through their local economic development organization. Information about the UEI transition can be found by accessing GSA.gov and searching on Unique Entity Identifier Update. Please refer to the Federal Service Desk for assistance with your SAM.gov account. 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. 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. How long will it take me to register with ID.me? The One-Stop Business Portal is also in development, which will provide small businesses with one resource for starting and running . 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 . The portal will provide access to $10 billion, which is made possible by the American Rescue Plan Act of 2021. 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. Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. For more information, please visit Treasury.gov/SSBCI. Im having issues with my SAM.gov account. 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. $100 million of that amount has been transferred to MBDA to assist with this effort. The State Small Business Credit Initiative May 09, 2018 By Michael Eggleston , Lisa J. Locke Abstract The State Small Business Credit Initiative (SSBCI), a component of the Small Business Jobs Act of 2010, allocated nearly $1.5 billion to states to support small-business financing programs. The U.S. Treasury has awarded $1.181 billion in SSBCI 2.0 funds to California, divided equally between CPCFA and IBank. Minnesota has been approved by the U. S. Department of the Treasury for up to $97 million for small business financing support. For the Capital Program, Quarterly and Annual Reporting will be required for Recipients of SSBCI funding. / Am I required to report? 1. How do you get an application for small business loan? It will fund state, territory, and Tribal government small business credit support and investment programs. These low-interest direct loans help small businesses take steps toward expanding and creating jobs. I am trying to fill out the application. Applications will be accepted between July 18, 2022 through August 19, 2022. 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. 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. Please ensure your legacy DUNS number is accessible for historical reference where needed, as the DUNS number will no longer be visible to Users in SAM.gov after April 4, 2022. State Small Business Credit Initiative (SSBCI), 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. 4.2. It is their responsibility to notify financial personnel within their organization on their end of the incoming payment. Directory of State of Nevada Employees and Elected Officials with phone numbers, emails and general information. The Act created the State Small Business Credit Initiative (SSBCI) to provide direct support to states for use in programs designed to increase access to credit for small businesses. First, verify that your name and initials are correct. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. The U.S. Department of Treasury is administering a second installment of the State Small Business Credit Initiative (SSBCI) as part of the American Jobs Plan passed in 2021. The deadline for proposals will also be revised. (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. These organizations provideloans and business development resources to helpborrowers create and grow sustainable businesses and generate jobs for Georgians. 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.. Your UEI number is located below the DUNS number on your Entity Registration Record. Also please verify that you are using a supported browser. 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. Any questions regarding the SSBCI program should be submitted tossbci_information@treasury.gov. 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. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. For more information, please visit the U.S. Department of the Treasury's website. 2.10. 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. 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. Our mission is to improve the quality of life for Pennsylvania citizens while assuring transparency and accountability in the expenditure of public funds. We and our partners use cookies to Store and/or access information on a device. 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. 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. It allowed states to design and implement programs to accommodate various business needs. Entities are able to manage organizational information, such as legal business name and physical address associated with a UEI number, directly from SAM.gov. 2021 State Small Business Credit Initiative (SSBCI) Application Material Documents and resources for the 2021 SSBCI program. 3.8. We believe that access to loan capital is a fundamental component of an equitable, vibrant, and growing economy. What does the Change to UEI Number mean for Recipients? The initial SSBCI program (SSBCI 1.0) was funded with $1.5 billion to strengthen state programs that support financing of small businesses. Community Development Financial Institutions engaged in small business lending in Georgia. SSBCI will allocate at least $500 million to Tribal governments. /. 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. What is the last day I can apply for the Technical Assistance Grant Program? Get more information at the U.S. Department of the Treasury State Small Business Credit Initiative Capital Program Policy Guidelines SSBCI program guidelines. ID.me is a technology partner to multiple Government Agencies and Healthcare Providers. Where can I get more information on the Transition to UEI Number? Copyright 2003 - 2023, Small Business Trends LLC. The Act created the State Small Business Credit Initiative (SSBCI) to provide direct support to states for use in programs designed to increase access to credit for small businesses. Why isnt the system accepting [x] information? It also provides technical assistance to small businesses applying for SSBCI funding. Funding is available from U.S. Treasury in three tranches, and the first tranche of funding - $142 million - is ready for deployment. 2011 State Small Business Credit Initiative Application, State Small Business Credit Initiative (SSBCI) Application, 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. 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). Outreach to qualifying financial institutions, organizations serving small businesses, and community organizations has begun and will continue. / What is the status of my application? If the Finish button is not appearing, it is due to one or more incomplete required fields. Delaware will receive Treasury funding to provide small business financing and technical assistance to help small and diverse businesses become capital ready. What Entities are eligible for the Capital Program? Of the total amount funded, Georgia was allocated $48,024,748. 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. Email: ecd.SSBCI2.0@tn.gov, Go to Economic & Community Development (ECD), is administering a second installment of the. Lending is provided by participating lenders. 6.3. Please contact our officeto obtain an application package. 3.9. Small Business Credit Initiative Launches in Nevada. 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. The $1.4 billion of the first SSBCI was able to leverage more than $8 billion in private small business loans and investments. The maximum amount of the credit guaranty is $200,000. Continue with Recommended Cookies. It seems the federal government offers loan guarantees and funds to states, who in turn offer loans processed by banks and credit unions. 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. 3.3. (updated. If not, you can change them as needed. What reporting is required? This document also contains the preliminary allocation methodology summary for Tribal governments. This document also contains the preliminary allocation methodology summary for Tribal governments. On March 11, 2021, President Biden signed The American Rescue Plan Act, which reauthorized and funded the State Small Business Credit Initiative (SSBCI). 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. Financial support for small business across states. As a reminder, you must log in using the single sign on that you created using ID.me. What steps do I need to complete in ID.me? 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. ET. The Treasury Portal does not work well on Internet Explorer. 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. *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. After reviewing the RFI, commenters can post their comments on Regulations.gov. provided $10 billion to fund the State Small Business Credit Initiative SSBCI. Officials, Human 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. 5.1. Please scroll down to the Program Rules and Materials section to access these documents. 3.2. So whether you're looking for financing, technical assistance or just a single point of contact to help you navigate the breadth of . 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). 3.11. 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. Contact our office to inquire about becoming a participating lender. 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. Tribal Governments must initiate and submit their completed SSBCI capital program application by October 31, 2022, at 11:59 p.m. https://home.treasury.gov/policy-issues/small-business-programs/state-smallbusiness-credit-initiative-ssbci. Why do I need to sign up at SAM.gov? Note that application materials, program requirements, and guidance will be revised for the 2021 round of SSBCI. Please note that SAM registration can take up to three weeks; delay in registering in SAM.gov could impact timely payment of funds. How do I know if a specific use is eligible? The PA Department of Community & Economic Development (DCED) oversees the State Small Business Credit Initiative (SSBCI) in Pennsylvania. 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. 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). Applications will be accepted between July 18, 2022 through August 19, 2022. Eligible Entities include States, the District of Columbia, Territories, and Tribal Governments. 2023, State of Texas, Office of the Governor, Texas Economic Development, Governor's University Research Initiative (GURI), Product Development and Small Business Incubator Fund, Economic Development & Diversification In-State Tuition for Employees, Governors Small Business Resource Portal, Veteran, Minority & Women Owned Business Resources. What steps do I need to complete in SAM.gov?

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