Treasury approves an additional $106M in SSBCI 2.0 dollars for tribal governments
The Treasury Department has recently approved an additional $106 million in SSBCI dollars for tribal governments: $102 million as part of the Capital Program and $4 million as part of the Technical Assistance (TA) Grant Program. With this most recent wave of announcements, and including two $2 million Small Business Opportunity Program (SBOP) awards made to tribal governments, Treasury has now approved applications for over $520 million in overall SSBCI dollars to tribal governments.
All information used in this article is from Treasury’s most recent October 2024 program approval documents for the Capital Program and TA Program and Treasury press releases.
The information below and more can be found on SSTI’s SSBCI Information Page.
Tribal government Capital Program overview
The most recent wave of tribal government Capital Program awards, announced October, 2024 represents just over $102 million of SSBCI capital across nine awardees operating 11 programs—two equity/venture capital and nine credit support, as classified by SSTI.
Treasury awarded the bulk of this total, $86.8 million, to the Cherokee Nation to operate two loan participation programs. The Cherokee Nation has also received a $2 million SBOP award to connect underserved small businesses with industry experts and foster collaboration with local financial institutions across the Nation’s 14 counties in Oklahoma.
The remaining $15.2 million was concentrated between two awardees, The Tohono O’Odham Nation of Arizona and The Sisseton-Wahpeton Oyate of the Lake Traverse Reservation, which were awarded up to $7.9 million and $3.2 million, respectively. The six other awardees received amounts ranging from approximately $615,000 to $850,000.
Figure 1 shows tribal government Capital Program types by awardee, with a filter located under the title to narrow the scope of the visual to credit support or equity/venture capital programs.
Clicking on the name of any approved tribe(s) will show a breakdown of the credit support and equity/venture capital programs, and further clicking will show the specific program type(s) approved. For example, clicking “Navajo Nation, Arizona, New Mexico, & Utah,” then “Credit Support Programs,” reveals one loan guarantee and one loan participation program.
Figure 1: SSBCI 2.0 Capital Program breakdown of approved tribal government programs.
As seen in Figure 1, which includes the 11 programs in the October 2024 announcement, there are currently 99 approved programs, including 76 credit support-type and 23 equity/venture capital-type programs as categorized by SSTI.
While program-level allocation data is not yet available, high-level allocation data is. Figure 2 below shows all 68 approved applications, sized by allocation. Hovering over any circle will show the approved jurisdiction’s full name and approved dollar amount.
The 68 approved applications represent well over 200 tribes, so many applications represent multiple tribal governments. For example, the Alaska SSBCI Tribal Consortium represents 125 Alaska tribes. Thus, comparing the total allocations for each application may be misleading.
Figure 2 shows the 68 currently announced tribal governments and consortia with approved SSBCI 2.0 Capital Programs.
Figure 2: Tribal government and consortia with approved SSBCI 2.0 Capital Program awards, sized by award amount.
Tribal government TA Grant Program overview
A total of 15 tribal government TA Grant awards totaling just over $4 million have been announced as of October 2024. These awards varied greatly in size, ranging from just over $60,000 to $1 million, and were allocated by formula.
Levelock Village, approved for up to $65,327, was announced in July 2024, while the other 14 were announced in October 2024.
Figure 3 shows all 15 currently approved TA Grant awardees. Scrolling over any awardee will reveal the full awardee name, award amount, and description of the approved program.
Figure 3: Approved Tribal government TA Grant programs.
This article was prepared by SSTI using Federal funds under award ED22HDQ3070129 from the Economic Development Administration, U.S. Department of Commerce. The statements, findings, conclusions, and recommendations are those of the author(s) and do not necessarily reflect the views of the Economic Development Administration or the U.S. Department of Commerce.
useful stats, ssbci