The State Small Business Credit Initiative (SSBCI) is a nearly $10 billion program to support small businesses and entrepreneurship in communities across the United States by providing capital and technical assistance to promote small business stability, growth, and success. SSBCI represents a transformational investment in American small businesses and is expected to catalyze up to $10 of private investment for every $1 of SSBCI Capital Program funding to increase access to capital to small businesses and entrepreneurs, including those in underserved communities.
Reauthorized and expanded by President Biden’s American Rescue Plan Act (ARPA), the SSBCI Capital Program provides funds to states, the District of Columbia, territories, and Tribal governments for those jurisdictions to create tailored programs that offer funding to small businesses and entrepreneurs through equity/venture capital, loan participation, loan guarantee, collateral support, and capital access programs.
In addition to capital access, SSBCI funding unlocks access to critical technical assistance through SSBCI’s formula Technical Assistance Grant Program and the SSBCI Investing in America Small Business Opportunity Program (SBOP). The Minority Business Development Agency at the U.S. Department of Commerce, through its Capital Readiness Program, also supports technical assistance to improve access to capital, including in traditionally underserved communities, with SSBCI funding.
SSBCI bolsters small business support networks – helping participating jurisdictions to invest in the future of the American economy, both on Main Street and in innovation hubs across the nation.
Summary of Participating Jurisdictions 2022 and 2023 Annual Reports (July 2024)
SSBCI Program Fact Sheet (June 2023)
List of SSBCI Capital Programs and Contacts
Technical Assistance Program Summaries
ssbci success spotlights
Chopper Landscaping in Utah
Chopper Landscaping is a South Jordan, Utah-based landscaping company. In 2024, Chopper aimed to move from a seasonal business to year-round operations. But the company did not have enough of a credit history, and that made it difficult to qualify for the commercial loan necessary for the transition.
Salmon River Outpost and Scotts Valley Energy Company, Supported by the Consortium Led By The Affiliated Tribes of Northwest Indians Economic Development Corporation
The Affiliated Tribes of Northwest Indians Economic Development Corporation (ATNI-EDC) serves Tribes across Oregon, Idaho, Washington, southeast Alaska, Northern California and Western Montana.
Extrunet in Michigan
Extrunet America is a supply chain company that produces extrusion machinery and tooling, primarily for clients in the decking, fencing, and window industries. The Michigan Economic Development Corp provided Extrunet America with $532,000 in SSBCI-funded collateral support, unlocking access to a $1.3 million bank loan to fund business expansion by nearly doubling their production facility and adding three new jobs.
Recent SSBCI News and Announcements
SSBCI Guidebook: Communications and Media Relations (6/3/2024)
Read more News and Announcements
Formula Technical Assistance Grants
IIA Small Business Opportunity Program (SBOP)
CONTACT US
Any questions regarding the SSBCI program should be submitted to ssbci_information@treasury.gov.
Please note that Treasury has assigned individual Outreach Managers to each State, Territory, and Tribal Government to serve as an individualized point of contact for the SSBCI Program. If you are a Participating Jurisdiction and do not know who your outreach manager is, please contact ssbci_information@treasury.gov.