State Small Business Credit Initiative Technical Assistance Grant Program

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 2010SSBCI statute, codified at 12 U.S.C. § 5701 et seq., to provide funding for (1) the SSBCI

The American Rescue Plan Act of 2021 (ARPA) permits Treasury to allocate funds for the State Small Business Credit Initiative (SSBCI) Technical Assistance (TA) Grant Program (Formula). The SSBCI Formula TA Grant Program provides financial assistance to eligible jurisdictions to carry out TA plans, under which eligible recipients will provide legal, accounting, and financial advisory services to very small businesses (VSBs) and business enterprises owned and controlled by socially and economically disadvantaged individuals (SEDI-owned businesses), either directly or contracted with legal, accounting, or financial advisory firms. The SSBCI Formula TA Grant Program is intended to assist VSBs and SEDI-owned businesses that are currently applying, preparing to apply for, or have previously applied for the SSBCI Capital Program or other Federal or jurisdiction program that supports small businesses.

SSBCI Formula TA Grant Program funding is available for states, the District of Columbia, territories, and Tribal governments that submitted complete and timely applications for the SSBCI Capital Program. These jurisdictions are the eligible jurisdictions of the SSBCI Formula TA Grant Program.

Very small businesses and business enterprises owned and controlled by socially and economically disadvantaged individuals (SEDI-owned businesses). Profit organization, Other private institution/organization, Small business, Private nonprofit institution/organization

Business/Commerce, Economic Development. Grant funds provided to recipients under the SSBCI Formula TA Grant Program are intended to be used by eligible recipients to assist very small businesses (VSBs) and business enterprises owned and controlled by socially and economically disadvantaged individuals (SEDI-owned businesses) applying for the SSBCI Capital Program, or another Federal or other jurisdiction program that supports small businesses. Generally, the types of assistance will include Business/Commerce, Economic Development, and Training.Grant funds may not be used in a manner that is prohibited by the grant agreement, including in a manner that is prohibited by the SSBCI statute (12 U.S.C. § 5701 et seq.), Treasury's SSBCI TA Grant Program guidance, including the SSBCI Formula TA Grant Program Guidelines and FAQs, and 2 CFR Part 200.

The SSBCI Formula TA Grant Program is a one-time program of limited duration. The obligation of participating states, the District of Columbia, territories, and Tribal governments to perform and report on progress will expire as outlined in the terms and conditions of the grant agreement.

SSBCI Formula TA Grant Program funding is available for states, the District of Columbia, territories, and Tribal governments that submitted complete and timely applications for the SSBCI Capital Program. These jurisdictions are the eligible recipients of the SSBCI Formula TA Grant Program. Eligible recipients that submit a complete TA application that meets the requirements in the SSBCI Formula TA Grant Program Guidelines and other guidance will receive funding. The amount of SSBCI Formula TA Grant Program funding available for each eligible recipient is based on a formula allocation. Awards are approved by the Chief Program Officer at the Office of Capital Access in Domestic Finance.

The deadline for SSBCI Formula TA Grant Program applications has passed for eligible recipients that are states, the District of Columbia, territories, and Tribal governments.