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 2023 calendar year is March 31, 2024.

The U.S. Treasury’s Capital Program Reporting Guidance document outlines details and instructions for reporting, and we recommend that you review this material well ahead of reporting deadlines. In this blog, we’ll highlight a few key pieces of information you should know about SSBCI annual reporting.

Required Information for SSBCI Annual Reports

Annual reports are more extensive than the quarterly reports in terms of reporting requirements. In addition to providing basic information about their programs, participating jurisdictions are required to provide information about the businesses that received loans, including:

  • Social and Economically Disadvantaged individual (SEDI) status
  • Jobs created
  • Business revenue
  • SSBCI funds lost due to loan default or loss of investment
  • Business classifications
  • Matching funds

Other required information will vary depending on the type of SSBCI program implemented by the participating jurisdiction. The five major SSBCI program types are: loan participation funds, loan guarantee funds, collateral support programs, capital access programs, and venture capital programs.

SSBCI Annual Reporting Deadlines

Annual SSBCI reports are due for the next several years, and the table below illustrates the reporting period and corresponding submission deadlines noted in the U.S. Department of Treasury’s Capital Program Reporting Guidance document. The dates below may be automatically extended by federal statute without further action by the U.S. Treasury.

Reporting PeriodSubmission Deadline
January 1, 2023 to December 31, 2023March 31, 2024
January 1, 2024 to December 31, 2024March 31, 2025
January 1, 2025 to December 31, 2025March 31, 2026
January 1, 2026 to December 31, 2026March 31, 2027
January 1, 2027 to December 31, 2027March 31, 2028

SSBCI Annual Report Narrative Updates
As part of the annual report, jurisdictions are required to share updates on each approved program, highlighting progress made in implementing the approved SSBCI plan for that program. This includes details on how the required 1:1 private capital match is being funded, updates on anticipated benefits, the allocation of funds among approved programs, and how federal contributions are being used to enhance access to capital. 

Review the U.S. Department of Treasury’s Capital Program Reporting Guidance document for more details.

Know the SSBCI Reporting Process

SSBCI reporting data must be submitted through the U.S. Treasury’s online portal. It may be beneficial to spend some time familiarizing yourself with this platform ahead of deadlines to identify potential reporting issues and to avoid last-minute filing obstacles.

How CRF Technology Can Help with SSBCI Annual Reporting

Community Reinvestment Fund, USA (CRF) offers technology solutions to help participating jurisdictions collect, assemble, and submit quarterly and annual SSBCI reports. 

CRF’s technology can help centralize loan reporting and standardize data collection to easily track SEDI metrics, pull dynamic reports for up-to-the-minute and accurate portfolio information, reduce data reentry, and more.

Navigating SSBCI reporting may seem complex, but by strategically planning and reviewing the U.S. Treasury’s Capital Program Reporting Guidance document, you can enhance the efficiency of the process. The integration of CRF’s technology can also help streamline the SSBCI reporting process, freeing up valuable time to concentrate on capital deployment.

Learn more about CRF’s technology solutions for SSBCI reporting

Disclaimer: the information provided on this page is meant for general informational purposes only and may not reflect the most current resources and recommendations available. Please consult with your financial, tax, legal, and other relevant advisors when making decisions about your small business.

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