The State Small Business Credit Initiative (SSBCI) is part of the American Rescue Plan Act of 2021 and provides a combined $10 billion to states, the District of Columbia, territories, and Tribal governments to expand access to capital for small businesses emerging from the pandemic. This is the second iteration of SSBCI – the original […]
SSBCI Quarterly Reporting: 3 Things You Should Know
State Small Business Credit Initiative (SSBCI) quarterly reporting doesn’t need to be a daunting task. Planning and keeping several key reporting requirements top of mind will help participating jurisdictions efficiently and accurately fulfill reporting requirements. Before getting started, be sure to read and review the U.S Treasury’s Capital Program Reporting Guidance document which outlines details […]
The SSBCI Annual Report: What You Need to Know
If you are one of the jurisdictions participating in the federal State Small Business Credit Initiative (SSBCI), you are required to submit an annual report to the U.S. Treasury Department. Participants must submit annual reports for each calendar year by March 31 of the following year. For example, the annual report due date for the […]
Senior Counsel
Preparing For State Small Business Credit Initiative (SSBCI) Reporting
Administered by the U.S. Department of Treasury, the State Small Business Credit Initiative (SSBCI) is a federal program providing $10 billion to states, the District of Columbia, territories, and Tribal governments to promote small business growth and access to capital. SSBCI funding is deployed by jurisdictions to small businesses through equity/venture capital programs, loan participation […]
Insights – The Southern Opportunity and Resiliency (SOAR) Fund
Program Overview Launched in April 2021, the Southern Opportunity and Resiliency (SOAR) Fund provided affordable financing and free business support to services to eligible small businesses and nonprofits across the southern and southeastern United States to help them rebuild from the COVID-19 pandemic. The SOAR Fund included 12 Community Development Financial Institution (CDFI) participants that […]
Insights – California Rebuilding Fund
Program Overview The California Rebuilding Fund (CARF) provided flexible financing to California small businesses. Participating Community Development Financial Institutions (CDFIs) provided loans up to $100,000 to eligible California small businesses, which could be used for working capital, inventory, refitting for new social distancing guidelines, and more. Between January 2021 – June 2022, the Fund led […]
Insights – Chicago Small Business Resiliency Loan Fund
Program Overview 60 Decibels is partnering with CRF USA & Calvert Impact Capital to understand the impact of the Chicago Small Business Resiliency Loan Fund on small businesses. Partner organizations came together, via an innovative structure and collaborative funding model, to better understand and address common challenges in accessing and deploying capital for historically underserved […]
Insights – New York Forward Loan Fund Program
Program Overview Launched in 2020, the New York Forward Loan Fund (NYFLF) supported New York State small businesses with 50 or fewer full-time employees, nonprofits, and small residential landlords that experienced a loss of rental income. Through the fund, five local Community Development Financial Institutions (CDFIs) provided loans up to $100,000 to eligible New York […]