21.031: State Small Business Credit Initiative Technical Assistance Grant Program

21.031

Inactive

Sept. 8, 2022

Sept. 8, 2022

Section 3301 of the American Rescue Plan Act of 2021 (ARPA), Public Law No. 117-2 (March 11, 2021), reauthorized and amended the Small Business Jobs Act of 2010, codified at 12 U.S.C. § 5701 et seq., to permit Treasury to provide $9.5 billion to establish the State Small Business Credit Initiative (SSBCI) Capital Program and up to $500 million for technical assistance (TA) as a response to the economic effects of the COVID-19 pandemic. Under the SSBCI Capital Program, Treasury allocates funds to states of the United States, the District of Columbia, territories, eligible municipalities, and Tribal governments (eligible jurisdictions) for small business financing programs, which includes loan participation, loan guarantee, collateral support, venture equity, and capital access programs. Under Section 3003(c)(5) of the Small Business Jobs Act, as amended, SSBCI Capital Program funding is not considered financial assistance for purposes of subtitle V of title 31, United States Code. The SSBCI TA Grant Program provides $200 million in technical assistance funding for states, the District of Columbia, and territories that submitted a complete application for a SSBCI Capital Program by February 11, 2022; municipalities that submit a complete application for a SSBCI Capital Program by March 11, 2022; and Tribal governments that submit a complete application for a SSBCI Capital Program by May 11, 2022. These jurisdictions are the eligible recipients of the SSBCI TA Grant Program. The SSBCI TA Grant Program is intended to provide funds to eligible recipients to provide legal, accounting, and financial advisory services either directly or through a contractor to very small businesses (VSB) and business enterprises owned and controlled by socially and economically disadvantaged individuals (SEDI-owned businesses). The primary goal of the SSBCI TA Grant Program is to help VSB and SEDI-owned businesses meaningfully apply and participate in the SSBCI Capital Program or another Federal or jurisdiction program that supports small businesses. Eligible recipients may apply to Treasury for a portion of the SSBCI TA Grant Program funding. Eligible states, the District of Columbia, territories, and municipalities must submit TA applications no later than June 30, 2022; Tribal governments have until July 11, 2022, to submit TA applications. Treasury expects to issue SSBCI TA Grant Program guidance in advance of the application deadlines.

B - Project Grants

SSBCI TA Grant Program funding is available for states, the District of Columbia, and territories that submitted a complete application for a SSBCI Capital Program by February 11, 2022; municipalities that submit a complete application for a SSBCI Capital Program by March 11, 2022; and Tribal governments that submit a complete application for the SSBCI Capital Program by May 11, 2022. These jurisdictions are the eligible recipients of the SSBCI TA Grant Program.

Very small businesses and business enterprises owned and controlled by socially and economically disadvantaged individuals (SEDI-owned businesses).

https://sam.gov/fal/3af6a8cf39e14276a1b74d9fe8a3c2ed/view