WebState Small Business Credit Initiative (SSBCI) About SSBCI The State Small Business Credit Initiative (SSBCI) was created through the Small Business Jobs Act of 2010 (the “Act”). SSBCI was funded with $1.5 billion to strengthen state programs that support financing of small businesses. WebSep 21, 2024 · Michigan has started deploying the first round of State Small Business Credit Initiative (SSBCI) 2.0 funding from the U.S. Department of Treasury. Through this initial round of funding, up to $72 million will be available to support loans to small businesses through the MEDC's SSBCI 2.0 Access to Capital programs, including the Collateral ...
MEDC SSBCI 2.0 Funding Approved to Support Michigan
WebMar 19, 2024 · The SSBCI program provides federal funding to states to aid small businesses in accessing capital to invest in job-creating opportunities as the country emerges from the COVID-19 pandemic. The funding comes as part of the federal government’s SSBCI 2.0 program, for which Michigan received its first round of funding in … WebStates are asked to simultaneously do three things in SSBCI 2.0: reach businesses that get a 10:1 ratio of private leverage, reach “Very Small Businesses” with fewer than 10 employees, and reach businesses owned by Socially and Economically Disadvantaged Individuals (SEDI), for which the program sets aside $1.5 billion. mdcched
SSBCI 2.0: A New Capital Tool for Revitalizing and Diversifying ...
WebMichigan is deploying the first round of State Small Business Credit Initiative (SSBCI) 2.0 funding from the U.S. Department of Treasury. Through this initial round of funding, up to $72 million will be available to support loans to small businesses through the MEDC’s SSBCI 2.0 Access to Capital programs, including the Collateral Support, Loan Participation, […] WebAug 29, 2024 · Michigan - SSBCI 2.0. Michigan was approved for up to $236,990,950. Visit this website to learn more about Michigan's Capital Access Programs for small businesses. West Virginia - WV Capital Access Program (WVCAP) West Virginia was approved for up to $72,104,79. Applications are now being accepted here. there are few details available. WebA portion of all SSBCI 2.0 funding is targeted toward businesses owned by Socially and Economically Disadvantaged Individuals (SEDI) and very small businesses. For more information on eligibility and how your company can … pearl puff dress