State Small Business Credit Initiative (SSBCI)
On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010 (the "Act"). The Act created the State Small Business Credit Initiative, which was funded with $1.5 billion to strengthen state programs that support lending to small businesses and small manufacturers. The State Small Business Credit Initiative is expected to help spur up to $15 billion in lending to small businesses. Under the State Small Business Credit Initiative, participating states will use the federal funds for programs that leverage private lending to help finance small businesses and manufacturers that are creditworthy, but are not getting the loans they need to expand and create jobs. The State Small Business Credit Initiative will allow states to build on successful models for state small business programs, including collateral support programs, Capital Access Programs (CAPs) and loan guarantee programs. Existing and new state programs are eligible for support under the State Small Business Credit Initiative.
Map of Participating StatesThe map below shows the SSBCI allocation and approved programs for each state, territory, and municipality participating in the State Small Business Credit Initiative. Click on your state for more information.
For a larger map please click hereClick here to get a full listing of allocation amounts and programs of states, territories, and municipalities participating in the State Small Business Credit Initiative.
Click here to get an overview of SSBCI for lenders. The Office of the Comptroller of the Currency (OCC) created a dedicated page on its website with an overview of the program and FAQ.
Most Recent News and AnnouncementsObama Administration Announces Funding For North Carolina, South Carolina, And Wyoming To Spur At Least $773 Million In New Small Businesses Lending (11/1/12)
Treasury's State Small Business Credit Initiative: A Funding Resource Option for Small Business LendersTreasury Updates SSBCI National Standards (10/23/12)
Treasury Updates SSBCI National Standards (5/16/12)
Treasury's FAQ Document has been Updated (4/26/12)
A Boost for the Bluegrass State (08/29/2011)
U.S. Department of the Treasury Announces Funds to Spur $3.6 Billion in New Lending to Small Businesses, Help Create Jobs (08/16/2011)
Getting More Bang for US Bucks (08/16/2011)
To report allegations of waste, fraud, and abuse regarding the SSBCI program, you may file a complaint with the Office of the Inspector General at http://www.treasury.gov/services/report-fwa/Pages/ReportFWA.aspx.