State Small Business Credit Initiative - Frequently Asked Questions (Faqs) - U.s. Department Of The Treasury Page 30
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37U.S. Department of the Treasury
State Small Business Credit Initiative
Municipalities
1. What is a municipality for purposes of the SSBCI?
For the purposes of administering the SSBCI program, Treasury defines a "municipality" as any
incorporated city, town, borough, village, or township; or a federally-recognized Indian tribe.
"Indian tribe" means an Indian or Alaska Native tribe, band, nation, pueblo, village, or
community that the Secretary of the Interior acknowledges to exist as an Indian tribe pursuant
to the Federally Recognized Indian Tribe List Act of 1994, 25 U.S.C. 479a.
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2. How can my municipality receive special permission from the Secretary to apply for SSBCI
funds?
Municipalities in Wyoming and North Dakota currently have permission to apply for SSBCI funds
because those two States did not file a notice of intent by November 27, 2010, as required in
order for a State to be eligible for SSBCI funding. By July 8, 2011, Treasury will post a notice on
SSBCI's website listing those States that had filed a notice of intent by November 27 but did not
file a complete application by June 27, 2011, so that municipalities in those States will have the
earliest possible notice that they may consider whether to apply directly. In August, Treasury
will post a notice on SSBCI's website listing additional States in which municipalities have
permission to apply for SSBCI assistance.
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3. If my municipality has permission to apply for SSBCI funding, what must I do in order for my
municipality to be considered?
In order to be considered for funding, eligible municipalities must file an application meeting
both of the following requirements no later than 5 p.m. Eastern Daylight Time on September 27,
2011:
1. The application is from an eligible applicant (i.e. a municipal department or agency
expressly designated by the municipality's chief executive to implement the program
pursuant to the designation letter attached to question 1B in the application) that can
bind the municipality to obligations with the federal government as well as have the
legal mechanisms in place to accept the transfer of SSBCI funds; and
2. The application contains a substantive response to all required fields and narratives. A
substantive response is one which reflects a good faith effort to answer the question.
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4. Is my municipality required to file a notice of intent to apply?
State Small Business Credit Initiative Application
Page 30 of 37
FAQs
April 21, 2016
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