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SSTI provides brief on SSBCI
The American Rescue Plan Act provides $10 billion for the State Small Business Credit Initiative (SSBCI) as part of the national response to the coronavirus pandemic-induced recession. This funding is unlike other small business assistance programs funded during the emergency so far in that SSBCI specifically provides funds to states — at least $56 million per state — to use for their own capital access initiatives, including programs that make investments in small businesses.
SSTI has made our brief, Addressing Capital Access in 2021, available for you to download. The paper is focused on helping states and their partners make the most of the opportunity presented by the newly-refunded State Small Business Credit Initiative (SSBCI 2.0), which provides $10 billion to states to support capital access. Topics covered include a review of SSBCI 1.0, the current landscape for debt and investment access, and recommendations for states developing programs in 2021.