State Small Business Credit Initiative - Frequently Asked Questions (Faqs) - U.s. Department Of The Treasury

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U.S. Department of the Treasury
State Small Business Credit Initiative
Frequently Asked Questions (FAQs)
General Information
1. What is the State Small Business Credit Initiative (SSBCI)?
The SSBCI is a Federal program administered by the Department of the Treasury (Treasury) which was
funded with $1.5 billion to strengthen state programs that support private financing to small businesses
and small manufacturers. In conjunction with leveraged private financing, the SSBCI is expected to help
spur up to $15 billion in lending to small businesses and manufacturers that are not getting the loans or
investments they need to expand and create jobs. The SSBCI allows states, territories and eligible
municipalities the opportunity to build upon or create successful models for state small business
programs, including Capital Access Programs (CAPs), and Other Credit Support Programs (OCSPs) such as
collateral support programs, loan participation programs, loan guarantee programs, and venture capital
programs.
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2. How long will the SSBCI operate?
The SSBCI is a one-time program of limited duration. The authorities and duties of the Secretary of
Treasury to implement and ad006Dinister the program terminate on September 27, 2017. The
obligations of participating states and territories to perform and report on progress will expire as
outlined in the terms of the Allocation Agreement. Allocation Agreements between the Treasury and the
participating states, territories and municipalities will expire on March 31, 2017.
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3. How much SSBCI funding is available to my state, territory, or eligible municipality?
The enacting legislation for the SSBCI, the Small Business Jobs Act of 2010 (P.L. 111-240) (the Act) set
out a formula that calculates the amount of funds available to each state, territory, and eligible
municipality. For ease of reference, the SSBCI website includes the maximum amounts allocated by the
Act to each state, territory, and eligible municipality. Please visit the website at
for more details.
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4. Can states, territories, and eligible municipalities work together to standardize their program rules
for CAPs?
Yes. CAPs are established and administered by each jurisdiction, individually. Several financial
institutions have commented to Treasury that standardizing CAP rules across states, territories, and
eligible municipalities would increase the program's efficiency and usability. States have the discretion
to standardize several program characteristics that would increase uniformity across jurisdictions. For
example, the states, territories, or eligible municipalities could use similar enrollment forms for financial
State Small Business Credit Initiative Application
Page 1 of 37
FAQs
April 21, 2016

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