state small business credit initiative application portal state small business credit initiative application portal

*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. How long will it take me to register with ID.me? Find out more about our Business Pandemic Recovery Initiative programs, including tax credits and grant funding, below. 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 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. Treasury Launches the 2021 State Small Business Credit Initiative (SSBCI) Technical Assistance Grant Application Portal on 8/1/2022 Treasury Announces North Carolina Approved to Receive Up to $201.9 Million to Promote Small Business Growth and Entrepreneurship through the American Rescue Plan (7/29/2022) State Small Business Credit Initiative SSBCI Self-Service Resources SSBCI Self-Service Resources View complete set of self-service resources. 6.1. Box 12428 Austin, Texas 78711 (512) 936-0100 SSBCI will allocate at least $500 million to Tribal governments. We and our partners use cookies to Store and/or access information on a device. All rights reserved. Addresses inequitable capital access by bridging the financing gaps facing new companies, under-banked communities and small businesses. 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). Contact Information 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 submit their completed SSBCI TA Grant Program application by December 9, 2022 at 11:59 pm ET. The U.S. Treasury has awarded $1.181 billion in SSBCI 2.0 funds to California, divided equally between CPCFA and IBank. For overall information about the program, including information on requesting funding, please see, For general questions about SSBCI, please email. 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). State Small Business Credit Initiative | Committee on Jobs, Economic Development, and the Economy Skip to main content Skip to: Content| Footer| Accessibility| Translate this website on Google Translate Search Input California State AssemblyCommittee on Jobs, Economic Development, and the Economy Committee Home JEDE Rules and Jurisdiction Economic development organizations must submit the online Electronic Single Application (ESA) for assistance. First, verify that your name and initials are correct. When approved a business can generally use the funds for: This can vary by state, so make sure to check. If you would like to change your name or initials, type the changes in the Full Name and Initials fields. 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). Through SSBCI 2.0, Treasury will provide funds to states, the District of Columbia, territories, and Tribal governments . Do I really have to provide ID.me with my personal information? What does the Change to UEI Number mean for Recipients? What Entities are eligible for the Technical Assistance Grant Program? /. 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. 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. Please note that SAM registration can take up to three weeks; delay in registering in SAM.gov could impact timely payment of funds. For further information on the transition to UEI Number, access SAM.gov. debt program, and AssistTN, the technical assistance components. This document also contains the preliminary allocation methodology summary for Tribal governments. The initiative features a newly developed refinancing mechanism to strengthen Community Development Financial Institutions lending to small business. Please refer to the Federal Service Desk for assistance with your SAM.gov account. The objective of SSBCI is to support state programs that provide resources to assist small business growth and create new jobs through increased access to small business funding. This initiative was originally created in 2009 under the Obama Administration. Please note that SAM.gov registration can take up to three weeks; delay in registering in SAM.gov could impact timely payment of funds. Their website is fsd.gov and you can also call them at 866-606-8220 from 8am - 8pm EST. You will need to verify your identity with ID.me. The maximum amount of the credit guaranty is $200,000. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. SSBCI 1.0was passed in 2010 and ran from 2011 to 2017. Helping NYS Businesses Build Back. All Recipients and Subrecipients can obtain a Unique Entity Identifier (UEI) number on the Sam.gov website and register for an account if needed: For more information, please access the SAM.gov website. It also provides technical assistance to small businesses applying for SSBCI funding. Minnesota has been approved by the U. S. Department of the Treasury for up to $97 million for small business financing support. Congress appropriated $1.5 billion to the Initiative. This means small business owners that otherwise wouldnt get any loans could qualify under SSBCI. What is the turnaround time for reviewing an application? 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. 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An overview of the results ishere. It seems the federal government offers loan guarantees and funds to states, who in turn offer loans processed by banks and credit unions. 2023 California State Treasurer's Office, Certification to Participate in the State Small Business Credit Initiative (SSBCI) Program, CalCAP Collateral Support Program Webpage, CalCAP for Small Business Program Webpage, CalCAP Participating Financial Institution Application, $1.18 B in SSBCI 2.0 Funds Awarded to California, accepting applications for SSBCI 2.0 Technical Assistance, CalCAP for Small Business Brochure (Including How It Works and Which Loans Qualify), CalCAP Collateral Support Brochure (Including How It Works and Which Loans Qualify), California Office of the Small Business Advocate (CalOSBA), referrals to help in more than 20 languages, Americas Small Business Development Centers, Within the second tranche: loan participation program. This will be evaluated by the state to determine management, lending experience, financial capacity, and ability. For more information, please see the Capital Program Policy Guidelines and FAQs on the program website at Treasury.gov/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. I have Subrecipients to report that have a DUNS, but no UEI. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. When logged into the Treasury Portal, click on the Avatar in the top right-hand corner of the screen. View complete set of self-service resources. The One-Stop Business Portal is also in development, which will provide small businesses with one resource for starting and running . 4.7. We recommend you review their webpage for full instructions. The State Small Business Credit Initiative (SSBCI) provides funds to States, Territories, and Tribal governments to enable these jurisdictions to support programs for small businesses. The Small Business Jobs Act of 2010 (the Act) became law in the fall of 2010. The best browsers to use are Microsoft Edge, Google Chrome or an updated version of Safari. The portal will provide access to $10 billion, which is made possible by the American Rescue Plan Act of 2021. On March 11, 2021, President Biden signed The American Rescue Plan Act, which reauthorized and funded the State Small Business Credit Initiative (SSBCI). Maine's Path to Recovery The $4.5 billion investment in Maine from the American Rescue Plan (ARP) is an unprecedented opportunity to support recovery from the COVID-19 pandemic, to improve the lives and livelihoods of Maine people, to make investments in solving Maine's long-term challenges, to develop strategies for new opportunities, and to strengthen our state for years to come. It can be used for planning purposes. 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. It will fund state, territory, and Tribal government small business credit support and investment programs. 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. All applications and required supplemental information must be electronically submitted by close of business on August 19, 2022. The Treasury Portal does not work well on Internet Explorer. Now open! 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. There does not seem to be a portal for small businesses yet - or . Treasury Announces Eleven Additional States to Receive up to $1 Billion from U.S. Treasury Department to Promote Small Business Growth and Entrepreneurship through the American Rescue Plan (10/11/2022), California to Receive up to $1.1 Billion from U.S. Treasury Department to Promote Small Business Growth and Entrepreneurship through the American Rescue Plan (9/21/2022), Capital Program Application Deadline Extended for Tribal Governments (Updated 8/26/2022), Treasury Approves Four Additional State Plans to Support Underserved Entrepreneurs and Small Business Growth Through the State Small Business Credit Initiative (8/19/2022), Treasury Launches the 2021 State Small Business Credit Initiative (SSBCI) Technical Assistance Grant Application Portal on 8/1/2022, Treasury Announces North Carolina Approved to Receive Up to $201.9 Million to Promote Small Business Growth and Entrepreneurship through the American Rescue Plan (7/29/2022), Treasury Approves Nine Additional State Plans to Support Underserved Entrepreneurs and Small Business Growth Through the State Small Business Credit Initiative (7/18/2022), Treasury Announces First State Small Business Credit Initiative Awards to Support Underserved Entrepreneurs and Small Business Growth in Key Industries (5/19/2022), Treasury Announces Plans to Deploy $300 Million in Technical Assistance to Underserved Entrepreneurs and Very Small Businesses through the State Small Business Credit Initiative (4/28/2022), Treasury Launches Historic Equity Measurements for American Rescue Plan Small Business Investments Program - Press Release 3/3/2022, Demographics-Related Reporting Requirements: Interim Final Rule (IFR), Tribal government Notice of Intent (NOI) Submissions(Updated 1/31/2022). 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. Small Business Loan Program. Financial support for small business across states. For more information on allocations and allocation methodology, please visit the State Small Business Credit Initiative website at Treasury.gov/SSBCI. Because ID.me verifies your individual identity (and not your company or agency identity), you will need to provide some personal information during the ID.me verification process. State Small Business Credit Initiative (SSBCI 2.0) Current Status The U.S. Treasury has awarded $1.181 billion in SSBCI 2.0 funds to California, divided equally between CPCFA and IBank. Before the end of the year, MBDA plans to . Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. Specifically, beginning in FY 2021, the Department of the Treasury (Treasury) is authorized to provide up to $10 billion in support for small business capital . For more information, please visit theU.S. Department of the Treasuryswebsite.