State Small Business Credit Initiative (SSBCI)
US Department of the Treasury
SSBCI is a Treasury program that allocates federal funds to all 50 states, DC, territories, and participating tribal governments to capitalize their own small-business lending and equity-investment programs, rather than funding companies directly from Washington.
Objectives
Originally created in 2010 and reauthorized and expanded by the American Rescue Plan Act in 2021 with a fresh $10B, SSBCI aims to unlock private lending and investment for small businesses that traditional credit markets underserve, with jurisdictions expected to leverage each federal dollar into roughly $10 of private financing.
Who can apply?
- Eligibility depends entirely on the specific program your state built with its SSBCI allocation — a venture-capital co-investment fund, loan-participation program, loan-guarantee program, or collateral-support program.
- Most SSBCI-funded programs target small businesses and startups that can show a private lender or investor already willing to participate alongside the state.
- States are required to dedicate a portion of funds to very small businesses (fewer than 10 employees) and underserved entrepreneurs.
What do you get?
- Access to state-run venture funds, loan guarantees, or collateral support that make a private lender or investor's deal possible.
- Program terms (loan size, equity check size, guarantee percentage) vary widely by state — check your state's specific SSBCI program page.
How to apply
Find your state's SSBCI-capitalized program through your state's economic development or treasury agency — Treasury's SSBCI page links to each participating jurisdiction's program page.