Recent Updates

Upcoming Events

The CDFA 2024 SSBCI Learning Series will focus on the latest developments around the State Small Business Credit Initiative (SSBCI), including program guidance from the U.S. Department of the Treasury, innovative strategies to maximize the impact of the SSBCI Capital Program at the local, regional, and state levels, and unique perspectives on how practitioners in communities nationwide are using SSBCI to develop small businesses and connect with a range of other federal funding opportunities.

Attendees have the option to register for one session or the full series. Significant discounts are available for CDFA member organizations and those who register for the full series.

Learn More about CDFA's SSBCI Learning Series

The SSBCI Coalition is a nationwide coalition of small business and SSBCI experts and practitioners. SSBCI Coalition members help inform CDFA’s SSBCI efforts and participate in joint efforts to guide implementation. CDFA hosts monthly SSBCI Coalition meetings to provide SSBCI updates and facilitate discussions that allow for networking, peer knowledge sharing, and problem-solving.

The SSBCI Coalition is available to CDFA Members only. There is no cost to attend SSBCI Coalition meetings. CDFA Members interested in participating in SSBCI Coalition meetings must register to attend.

Learn More about CDFA's SSBCI Coalition

SSBCI Capital Program Policy Guidelines
The U.S. Department of the Treasury (Treasury) issued revised SSBCI Capital Program Policy Guidelines on December 4, 2023. This guidance builds upon the original SSBCI program, first funded in 2010, and updates policy guidelines previously issued by Treasury. The Capital Program Policy Guidelines do not include information about the technical assistance component of the SSBCI program.

SSBCI Capital Program Reporting Guidance
This Capital Program Reporting Guidance details the reporting and document retention requirements for jurisdictions that receive SSBCI funding. Treasury created an online portal that participating jurisdictions must use to submit reporting data. This guidance may be updated periodically.

SSBCI Technical Assistance Grant Program Reporting Guidance
This Technical Assistance Grant Program Reporting Guidance details the reporting and document-retention requirements for jurisdictions that receive a TA Grant.

SSBCI Technical Assistance Grant Program Guidelines
This document provides guidance on the application, award requirements, and administration, of the TA Grant Program.

SSBCI FAQs Document - January 2024
On January 19, 2024, the U.S. Department of the Treasury updated its FAQs document for the State Small Business Credit Initiative (SSBCI).

SSBCI Programs Fact Sheet - June 2023
This June 2023 Fact Sheet from the U.S. Department of the Treasury discusses the implementation status of SSBCI 2.0 and provides spotlights on various capital programs.

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The following information summarizes the SSBCI application status or program information for each state participating in the Initiative. Resources are restricted to CDFA members only. CDFA members must login with their unique CDFA username and password to access restricted items. Non-members can join CDFA today to gain access to the entire database.

If you are a state SSBCI or access to capital program manager, you can help develop the SSBCI State Resources Map by sending information, comments, or materials to CDFA.

CDFA has developed deep expertise in SSBCI due to its vast experience with the program. Since 2010, CDFA has advised state agencies and intermediaries on the implementation and ongoing deployment of SSBCI funds. After leading advocacy efforts to secure reauthorization of the SSBCI program in 2021, CDFA hosted a 10-part biweekly SSBCI Briefing Series and continues to hold an annual SSBCI Learning Series. It runs a monthly national SSBCI Coalition meeting of more than 300 members, works with SSBCI practitioners to provide recommendations to Treasury on program guidance, and provides direct technical assistance to various states.

Contact CDFA to discuss your technical assistance needs.

As of January 31,2024, the U.S. Department of the Treasury has approved 36 out of 108 tribal government capital applications, totaling $252 million for tribal small businesses.

On December 18, 2023, the U.S. Department of the Treasury published the SSBCI Implementation Snapshot for Tribal Governments.

On June 26, 2023, the U.S. Department of the Treasury announced the first SSBCI Capital Program awards to Tribal governments, totaling $74 million for 39 awardees. To view the full list of awardees, click here.

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Overview
The State Small Business Credit Initiative (SSBCI) authorizes the U.S. Department of the Treasury (Treasury) to allocate federal funds to states, U.S. Territories, Washington, D.C., and tribal governments (Juridictions) to capitalize local small business support programs. Jurisdictions must match SSBCI funds with private capital, and aspire to leverage each dollar to attract 10 dollars in private financing. The SSBCI program was reauthorized and enhanced in 2021 in the American Rescue Plan Act. To date, Treasury has approved 54 of 56 jurisdictional applications and 36 of 108 tribal government applications, totaling over $1 billion in allocated fundning for small businesses.

History
SSBCI was originally introduced in 2010 to deliver urgently needed capital to small businesses in the United States. The first version of the program was active through 2017 and became one of the most successful federal programs to expand access-to-capital delivery mechanisms during its time. SSBCI allowed states the flexibility to design their own small business support programs to accommodate the variation in small business needs across the nation.

Because of the flexibility and adaptability of the SSBCI program, states were able to deploy over $1.4 billion in SSBCI funding to support small businesses. That $1.4 billion leveraged well over $8 billion in private loans and equity investments through five SSBCI-approved program structures:

• Capital Access Program
• Loan Participation Program
• Loan Guarantee Program
• Collateral Support Program
• Venture Capital Program

The original SSBCI program’s ability to leverage private capital made it an ideal federal program, being both incredibly cost-effective and highly impactful. Of all SSBCI loans and equity investments, 80% went to businesses with 10 or fewer employees and 42% went to businesses in low- and moderate-income communities. More than 16,900 small businesses received financial support, resulting in the creation or retention of 190,000 jobs.

Reauthorization
CDFA worked with our members and partners across the country to encourage Congress to reauthorize funding for SSBCI and recapitalize state programs that had expired in 2017. The American Rescue Plan Act of 2021 reauthorized SSBCI at $10 billion in total funding and enhanced the program to provide dedicated funding for technical assistance activities and opened program participation to Tribal Governments. The reauthorized SSBCI program also requires Jurisdictions to target a portion of loans and investments to Very Small Businesses and businesses owned or controlled by socially and economically disadvantaged individuals (SEDI businesses).

Visit the CDFA Advocacy Center to learn more about CDFA's advocacy efforts on SSBCI and to get involved.

Program documents and announcements are available in the Resources section.