Treasury updates to SSBCI FAQs and a look at state fund deployments

The U.S. Department of the Treasury (Treasury) recently issued three new FAQs for the State Small Business Credit Initiative 2.0 (SSBCI) program. These FAQs clarify and reiterate the timeline for the end of the Capital Program, and the deadlines by which participating jurisdictions must request disbursement of any remaining allocated Capital Program funds.

In summary:

• All disbursement, technical support, and other program actions performed by Treasury will cease on March 11, 2028 (FAQ #8 in the general section).  
• All Capital Program disbursement requests must be submitted to Treasury by December 31, 2027 (FAQ #4 under Section III.b)
• Treasury expects to terminate disbursements to jurisdictions that have not qualified for their second tranche disbursement by their three-year anniversaries (FAQ #1 in Section III.c)

SSTI has confirmed with the SSBCI team at Treasury that no states have failed to meet their three-year deadline, although we recognize this to be an ongoing concern as some jurisdictions’ allocation agreement dates are as recent as mid-2024.

To gain insights into jurisdictions which may have funds at risk of termination, SSTI has created Figure 1, a stacked column chart that displays each reporting jurisdiction’s fund status broken down as a proportion of their total allocation, using data from Figure 5 of the SSBCI 2025 Q2 Quarterly Report. Data is sorted by share of allocated funds deployed.

Hovering over any jurisdiction’s column will reveal a pop-up with information on the column’s constituent values in USD and the allocation agreement date.

Note that data is current as of June 30, 2025, and may no longer accurately reflect some jurisdictions, as it is possible that jurisdictions have received additional tranches in the four months since the reporting period closed.  

Figure 1: Status of SSBCI 2.0 funds by jurisdiction as of June 30, 2025

With the Q3 2025 Capital Program Quarterly report for the period ending September 30 having been due at the end of October, SSTI anticipates new data to be released by Treasury in or around December 2025. Historically, quarterly reports have lagged approximately one quarter. All previous SSBCI reports can be found on Treasury’s website, here.

SSTI encourages participating jurisdictions to attend the weekly office hours hosted by Treasury staff, with separate calls each covering one of the following key topics: Lending Programs, Equity Programs, Technical Assistance, as well as a dedicated session for Tribal Governments. Note that Tribes are welcome at all office hours. It is encouraged for jurisdictions to join with any questions related to implementation, guidance, or transactions. Each session requires registration, and sessions are not set up as recurring meetings.

SSTI has also confirmed with the SSBCI team at Treasury that no changes have been announced with the Socially and Economically Disadvantaged Individuals (SEDI) component of SSBCI and SEDI incentive funding, as has been erroneously rumored.

Questions regarding the SSBCI program should be submitted to ssbci_information@treasury.gov.  

This page 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.