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 […]
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What is the State Small Business Credit Initiative (SSBCI)?
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 […]
Linnea Dockter Wins Top Women in Finance Award
We are excited to share that CRF’s Director of Bond Guarantee Program Linnea Dockter received a 2024 Top Women in Finance award from Finance and Commerce. Finance and Commerce is an independent daily newspaper providing news, analysis, and commentary on Minnesota business. Their Top Women in Finance award recognizes industry-leading executives, business owners, and entrepreneurs […]
Fifth Third Launches Small Business Catalyst Fund in Partnership with Community Reinvestment Fund, USA
$7.85M in investments will help build a more equitable small business ecosystem CINCINNATI— Fifth Third Bank has partnered with Community Reinvestment Fund, USA (CRF) to launch the Small Business Catalyst Fund, a $7.85M investment that will empower small businesses across Fifth Third’s 11-state footprint to grow and create jobs in their communities and build a more […]
U.S. Department of the Treasury Announces BGP Issuance to CRF
CRF will use the $325 million issuance to support three CDFIs The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has announced the issuance of $325 million in bonds to CRF through the CDFI Bond Guarantee Program (BGP). With this issuance, CRF will issue bonds on behalf of three organizations, including […]
CRF receives $20 million gift from Philanthropist MacKenzie Scott
Community Reinvestment Fund, USA (CRF) is tremendously honored to receive a record $20 million grant from philanthropist MacKenzie Scott. This is the second award CRF has received from Scott, having received a $15 million donation in 2020. The unprecedented size and unique structure of this grant provides CRF with an extraordinary opportunity to maximize our […]
CRF boosts small business lending with private partner
April 3, 2024 (MINNEAPOLIS) In a new partnership, Community Reinvestment Fund, USA (CRF) and Mission Driven Finance aim to accelerate and expand its place-based small business lending. This partnership leverages the respective strengths of CRF and Mission Driven Finance to solve community finance challenges, including difficulties faced by many small businesses in accessing conventional sources of […]
Community Reinvestment Fund, USA Names Ben Jirik Senior Loan Officer
Community Reinvestment Fund, USA (CRF) is thrilled to share that Ben Jirik has recently joined the organization as a senior loan officer. Ben will work closely with entrepreneurs to connect them with capital and resources designed to support them along their small business journey. “With his deep understanding of credit and commitment to helping entrepreneurs […]
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 […]