State Small Business Credit Initiative (SSBCI)
Resources for Angels

As part of ACA’s ongoing efforts to safeguard the rights of American angel investors so that we can protect the foundation that fuels the startup economy, ACA is providing resources and tools for the US Treasury’s State Small Business Credit Initiative (SSBCI).

About the State Small Business Credit Initiative (SSBCI)

State Small Business Credit Initiative (SSBCI) was originally created in the Small Business Jobs Act of 2010 to increase availability of credit for small businesses. It was funded at $1.5 billion and implemented by Treasury and states and territories from 2011 through 2017. During this time, approximately 69 percent of the funding supported lending or credit support programs and 31 percent supported venture capital programs.

The American Rescue Plan Act of 2021, reauthorized SSBCI and provided $10 billon to implement the program. Funds will be broken down as follows:

  • $6.5 billion for State allocation
    • $6 billion based on unemployment
    • $0.5 billion based on percentage of companies with less than ten employees
  • $1.5 billion for businesses owned and controlled by socially and economically-disadvantaged individuals
  • $1 billion for incentives to States/Tribal governments that demonstrate robust support for businesses owned and controlled by socially and economically-disadvantaged individuals
  • $0.5 billion for technical assistance programs
  • $0.5 billion for Tribal governments

Treasury will post guidance, forms, and other resources with information about the 2021 SSBCI program below as they become available.

Resources and Tools

  • Treasury Clarifies SSBCI Application Requirements and Deadlines
  • CDFA's SSBCI Resource Center . This is our one-stop hub for all things SSBCI. It is regularly updated.
  • SSBCI Update Newsletter -This newsletter provides monthly updates on SSBCI, breaking news, and upcoming events. It's the best way for anyone interested in SSBCI to stay in-the-know.
  • SSBCI FAQs and Fact Sheet- This document has our answers to Frequently Asked Questions and basic facts about SSBCI 2.0.
  • SSBCI State Resources Map -  This is our interactive map of documents, reports, analysis, and information for SSBCI 1.0 and 2.0 programs in every state and territory.
  • The Key to Inclusive Business Recovery - How cities and states can use federal rescue funds to spark recovery.
  • Localizing the State Small Business Credit Initiative - Localizing the State Small Business Credit Initiative - general outlines of the program, highlight examples of success from SSBCI 1.0, and provide our guidance for maximizing the impact of SSBCI 2.0 funds.
  • ​Employee Ownership Catalyst Fund Preserves Local Businesses and Jobs - After a second pandemic summer, this Labor Day feels unique, says Alison Lingane, co-founder of Project Equity, a nonprofit that supports the transition of businesses to employee ownership. "As a society, we've come to understand in the last year and a half that people who do 'essential' work are barely surviving." Project Equity and its partner Mission Driven Finance, an impact investment firm, used Labor Day to announce the launch of the Employee Ownership Catalyst Fund.
  • Updated CRS Report on SSBCI Implementation and Funding Issues - This report, updated in April 2021, examines the SSBCI and its implementation, including Treasury's response to initial program audits conducted by the U.S. Government Accountability Office (GAO) and Treasury's Office of Inspector General (OIG). These initial audits suggest that SSBCI participants generally met the statute's requirements, but there were some compliance problems.

Access the Treasury website for additional SSBCI program details, including key dates, archives and more.