State Small Business Credit Initiative

Authority

State Small Business Credit Initiative is authorized by Small Business Jobs Act of 2010, Title III (State Small Business Credit Initiative Act of 2010), as reauthorized and amended by the American Rescue Plan Act of 2021, SBJA secs. 3001-3011 (P.L. 111-240); ARPA sec. 3301 (P.L. 117-2), administered by Treasury, as a formula program. Statute.

Main capital allocation (12 U.S.C. 5702(b)) is by formula based on each jurisdiction's job losses in proportion to the aggregate job losses of all jurisdictions, with each state, DC, and territory guaranteed a minimum of 0.9 percent of the $6 billion allocation for states, DC, and territories. SEDI (12 U.S.C. 5702(d)) and VSB (12 U.S.C. 5702(f)) capital allocations are formula-based on SEDI/VSB business populations. A separate Tribal allocation is based on Tribal enrollment, with a preliminary minimum of approximately 0.09 percent of the $500 million Tribal allocation. A $1.0 billion SEDI incentive allocation (12 U.S.C. 5702(e)) is earned by jurisdictions demonstrating robust support for and deployment of funds to underserved businesses. The formula TA Grant Program allocates $185.27 million to states/DC/territories pro rata to the sum of each jurisdiction's SEDI and VSB capital allocations. SSBCI requires private-capital leverage (e.g., 1:1 or 10:1 financing for other credit support programs under 12 U.S.C. 5705(c)); there is no jurisdictional cash match requirement.

Allocations by jurisdiction

58 jurisdictions, from the published allocation table.

Where the money lands

Place-of-performance obligations by state, with per-capita, sealed in the location chain.

Top recipients

Source documents

14 primary documents, parsed and sealed by content hash.

• 12 U.S.C. Chapter 54 - State Small Business Credit Initiative (secs. 5701-5708) statute
• Small Business Jobs Act of 2010 (P.L. 111-240), Title III - State Small Business Credit Initiative Act of 2010 statute, 102 pages
• American Rescue Plan Act of 2021 (P.L. 117-2), Sec. 3301 (reauthorizing and amending SSBCI) statute
• SSBCI Capital Program Policy Guidelines (revised October 4, 2024; initially released November 10, 2021) guidance, 50 pages, 4 tables
• SSBCI Technical Assistance Grant Program Guidelines (April 28, 2022) guidance, 14 pages
• SSBCI Preliminary Technical Assistance Grant Program Allocation Table (April 2022) allocation-table, 3 pages, 3 tables
• SSBCI Quarterly Report through June 30, 2025 (includes per-jurisdiction Allocation Agreement Total Allocation table and Tribal allocations) annual-report, 13 pages, 5 tables
• SSBCI Annual Report 2022-2023 annual-report, 66 pages, 77 tables
• SSBCI Investing in America Small Business Opportunity Program (SBOP) Notice of Funding Opportunity (NOFO), SSBCI-TA-2023-001 nofo, 41 pages, 5 tables
• Sample SSBCI Capital Program Allocation Agreement other, 13 pages
• SSBCI Frequently Asked Questions (updated May 11, 2026) guidance, 40 pages, 5 tables
• List of SSBCI Capital Programs and Contacts (per-jurisdiction administering agencies) other, 1 tables
• Federal Register: SSBCI Demographics-Related Reporting Requirements (Interim Final Rule) regulation
• State Small Business Credit Initiative (SSBCI) - U.S. Department of the Treasury agency-site

Questions

How does State Small Business Credit Initiative money reach recipients?

Treasury allocates SSBCI funds by formula directly to participating jurisdictions (the 50 states, the District of Columbia, 5 territories, eligible municipalities, and Tribal governments) under signed Allocation Agreements. Main capital flows in three tranches (33%, 33%, 34%), with the second and third tranches conditioned on the jurisdiction certifying it has expended, transferred, or obligated at least 80% of the prior disbursement. Each jurisdiction then runs its own approved capital programs (capital access programs, loan participation, loan guarantee, collateral support, and equity/venture capital) that deliver loans or investments to small businesses, leveraging private capital. Technical assistance reaches recipients through the formula TA Grant Program (also direct to participating jurisdictions) and the competitive SSBCI Investing in America Small Business Opportunity Program (SBOP) NOFO.

How much federal funding does State Small Business Credit Initiative represent?

As of 2026-06-05, $161.1M was obligated across 99 active awards to 99 recipients in 50 states and 44 counties. This is a sealed point-in-time figure from USAspending, the federal system of record.

What law authorizes State Small Business Credit Initiative?

State Small Business Credit Initiative is authorized by Small Business Jobs Act of 2010, Title III (State Small Business Credit Initiative Act of 2010), as reauthorized and amended by the American Rescue Plan Act of 2021, SBJA secs. 3001-3011 (P.L. 111-240); ARPA sec. 3301 (P.L. 117-2), administered by Treasury.