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U.S. Department of the Treasury

Office of Recovery Programs

State Small Business Credit Initiative (SSBCI) Investing in America Small Business Opportunity 

Program (SSBCI Investing in America SBOP)

Assistance Listing Number: 21.034 

Grants.gov Funding Opportunity Number: SSBCI-TA-2023-001

Notice of Funding Opportunity (NOFO) Release Date: October 25, 2023

Application Deadline: 60 calendar days from the date the SSBCI Investing in America SBOP

application is available. Treasury will publish a separate notification when the program

application is published that specifies the application deadline and will update this NOFO 

accordingly. 

Overview

The U.S. Department of the Treasury (Treasury) is pleased to announce that it is seeking 

applications from eligible applicants for grant funding under the new SSBCI Investing in 

America SBOP that propose innovative and high-impact models for delivering technical 

assistance (TA) in the areas of legal, accounting, and financial advisory services to very small 

businesses (VSBs) and businesses owned and controlled by socially and economically 

disadvantaged individuals (SEDI-owned businesses).

The SSBCI Investing in America SBOP is related to and supports the SSBCI Capital Program

and the allocation formula-based SSBCI TA Grant Program. The SSBCI Capital Program is a 

federal program administered by Treasury that provides funding to states, the District of 

Columbia, territories, and Tribal governments to expand access to capital for small businesses 

emerging from the pandemic, build ecosystems of opportunity and entrepreneurship, and create 

high-quality jobs. The formula SSBCI TA Grant Program is also a federal program administered 

by Treasury that funds the provision of TA services in the areas of legal, accounting, and 

financial advisory services to eligible small businesses applying for SSBCI funding and other 

government small business programs.

All awards are subject to the availability of appropriated funds and any modifications or 

additional requirements that may be imposed under applicable law.

Eligible Applicants

Any state, territory, the District of Columbia, or Tribal government (each a “jurisdiction”) that 

has been approved as a participating jurisdiction in the SSBCI Capital Program is eligible to 

apply. Jurisdictions that are not yet approved as participating jurisdictions in the SSBCI Capital 

Program, but that have submitted complete and timely SSBCI Capital Program applications (or 

are part of a joint Tribal government application), are also eligible to apply; however, to receive 
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an SSBCI Investing in America SBOP award, a jurisdiction must be approved as a participating 

jurisdiction in the SSBCI Capital Program. 

Groups of Tribal governments may apply jointly (i.e., in consortia). For additional requirements 

applicable to joint Tribal applications, please see TA Grant Program FAQ #3 “Can a 

Tribal-affiliated entity or non-Tribal entity apply for a TA grant, sign a TA Grant Agreement, 

and implement the grant on behalf of a group of Tribal governments” under Section III. Eligible 

Recipients, Beneficiaries, and TA Providers at

https://home.treasury.gov/system/files/136/SSBCI-FAQs.pdf, which will apply to applications 

and grants under this NOFO. 

States, territories, and the District of Columbia may not apply jointly, but an application from 

these applicants or from Tribal governments will receive more points if the TA program is 

designed to serve eligible small businesses on a regional basis as described in Section C.1 below 

and the “Project Reach” evaluation criterion in Section E.1 below.

Contact Information

Applications must be submitted through Treasury’s forthcoming Portal, which will be available

at https://portal.treasury.gov/cares/s/ssbci-home-page. For technical support with Treasury’s

Portal, please e-mail SSBCI_information@treasury.gov. 

Submission Information

SAM.gov Registration: To submit an application, all applicants must be registered in the System 

for Award Management (SAM) and provide a valid Unique Entity Identifier (UEI) in the 

application. Applicants may visit the SAM.gov website to complete SAM.gov registration and 

obtain a UEI. If an applicant has already registered on SAM.gov, please log on to SAM.gov and 

confirm that the applicant’s SAM.gov registration is active with current information and that a 

UEI has been assigned to the applicant. Please see the SAM.gov website at SAM.gov | Duns –

Sam UEI for more information on UEIs. Please also see Section D.3 below for additional 

information on UEI requirements and SAM.gov. 

Application submission: Treasury will establish an online portal for eligible applicants to submit 

their SSBCI Investing in America SBOP applications. For more information about how to submit

an application, see Section D below.

Additional guidance regarding the program will be available on Treasury’s website at State 

Small Business Credit Initiative (SSBCI) | U.S. Department of the Treasury. The complete 

application package (this NOFO and the application template) will be available on Treasury’s 

website at State Small Business Credit Initiative (SSBCI) | U.S. Department of the Treasury.

Authorizing Authority

The statutory authority for the SSBCI Investing in America SBOP is section 3009(e)(1) of the 

Small Business Jobs Act of 2010 (SSBCI statute), as added by section 3301(d) of the American 

Rescue Plan Act of 2021 (ARPA) and codified at 12 U.S.C. § 5708(e)(1).
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Appropriation Authority

This program is funded by section 3301(a)(2) of ARPA.

Announcement Type

Initial
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Table of Contents

A. PROGRAM DESCRIPTION ............................................................................................... 6

1. Overview.............................................................................................................................. 6

2. Key Terms............................................................................................................................ 6

3. Objectives ............................................................................................................................ 9

B. FEDERAL AWARD INFORMATION............................................................................. 11

1. Anticipated Total Amount to be Awarded......................................................................... 11

2. Anticipated Number and Amount of Awards.................................................................... 11

3. Anticipated Type and Duration of Awards........................................................................ 11

C. ELIGIBILITY INFORMATION....................................................................................... 11

1. Eligible Applicants............................................................................................................. 11

2. Eligible Beneficiaries......................................................................................................... 12

3. Eligible TA Providers........................................................................................................ 13

4. Eligible TA Services.......................................................................................................... 14

5. Non-Federal Matching Funds............................................................................................ 15

6. Other Eligibility Requirements.......................................................................................... 16

D. APPLICATION AND SUBMISSION INFORMATION................................................. 17

1. Address to Request Application Package .......................................................................... 17

2. Method and Content of Application Submission............................................................... 17

3. Unique Entity Identifier and System for Award Management (SAM).............................. 29

4. Creating an ID.me Account for Treasury Portal Access.................................................... 30

5. Submission Dates and Times............................................................................................. 30

6. Funding Restrictions.......................................................................................................... 31

E. APPLICATION REVIEW INFORMATION................................................................... 31

1. Evaluation Criteria ............................................................................................................ 32

2. Review and Selection Process ........................................................................................... 35

3. Due Diligence .................................................................................................................... 37

4. Title VI of the Civil Rights Act Pre-Award Compliance Review ..................................... 37

5. Awards in Excess of the Simplified Acquisition Threshold.............................................. 38

F. FEDERAL AWARD ADMINISTRATION INFORMATION ....................................... 38

1. Federal Award Notices ...................................................................................................... 38

2. Administrative and National Policy Requirements............................................................ 39

3. Reporting............................................................................................................................ 39
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4. Conflict of Interest .......................................................................................................................40

G. FEDERAL AWARDING AGENCY CONTACT...................................................................41
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A. PROGRAM DESCRIPTION

1. Overview

Treasury is pleased to announce that it is seeking applications from eligible applicants for grant 

funding under the new SSBCI Investing in America Small Business Opportunity Program

(SSBCI Investing in America SBOP). Treasury intends to award $75 million in federal grants 

through the program to eligible recipients to support programs that propose innovative and 

high-impact models for delivering technical assistance (TA) in the areas of legal, accounting, and 

financial advisory services to very small businesses (VSBs) and businesses owned and controlled 

by socially and economically disadvantaged individuals (SEDI-owned businesses). 

Under the program, applications that can maximize impact by providing or securing a dedicated 

cash match to supplement or expand TA offerings will receive more points in the evaluation 

process. 

In addition, an application will receive more points if the TA program is designed to serve 

eligible small businesses on a regional basis as described in Section C.1 below and the “Project 

Reach” evaluation criterion in Section E.1 below, and as illustrated in the non-exhaustive 

examples in Section A.3 below.

The SSBCI Investing in America SBOP is related to and supports the SSBCI Capital Program

and the allocation formula-based SSBCI TA Grant Program. The SSBCI Capital Program 

supports credit and investment programs for eligible small businesses, and the formula SSBCI

TA Grant Program funds the provision of TA services in the areas of legal, accounting, and 

financial advisory services to eligible small business beneficiaries applying for SSBCI funding 

and other government small business programs.

2. Key Terms

Treasury uses certain key terms throughout this NOFO, including:

• Eligible beneficiaries are VSBs and SEDI-owned businesses (as defined in this section) 

that are applying for a jurisdiction’s SSBCI Capital Program or other federal or other 

jurisdiction small business program. See Section C.2 below for additional information.

References throughout this NOFO to businesses applying for SSBCI capital programs or 

other small business programs also include businesses that are preparing to apply for or 

have previously applied for such programs.

• A legal, accounting, or financial advisory firm (LAF firm) is a for-profit or nonprofit 

entity that meets at least one of the following criteria:

1. A primary purpose of the entity or a central part of the entity’s mission is to provide 

legal, accounting, and/or financial advisory services, 

2. The entity regularly markets or publicizes itself as providing legal, accounting, and/or 

financial advisory services, or
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3. At least 25% of the entity’s revenues or staff are dedicated to providing legal, 

accounting, and/or financial advisory services.

See also FAQ # 2 “How does Treasury define a ‘legal, accounting, of financial advisory 

firm’ for purposes of the TA Grant Program?” under Section III. Eligible Recipients, 

Beneficiaries, and TA providers at https://home.treasury.gov/system/files/136/SSBCIFAQs.pdf, which will apply to applications and grants under this NOFO. 

• A SEDI-owned business is:

1. A business enterprise that certifies that it is owned and controlled by individuals who 

have had their access to credit on reasonable terms diminished compared to others in 

comparable economic circumstances due to:

• Membership of a group that has been subjected to racial or ethnic prejudice or 

cultural bias within American society;

• Gender; 

• Veteran status; 

• Limited English proficiency; 

• Disability

• Long-term residence in an environment isolated from the mainstream of 

American society; 

• Membership of a federally or state-recognized Indian Tribe;

• Long-term residence in a rural community; 

• Residence in a U.S. territory; 

• Residence in a community undergoing economic transitions (including 

communities impacted by the shift towards a net-zero economy or 

deindustrialization); or

• Membership of an underserved community. (Underserved communities are 

populations sharing a particular characteristic, as well as geographic communities, 

that have been systematically denied a full opportunity to participate in aspects of 

economic, social, and civic life, as exemplified by the list in the definition of 

equity. Equity is consistent and systematic fair, just, and impartial treatment of all 

individuals, including individuals who belong to underserved communities that 

have been denied such treatment, such as Black, Latino, and Indigenous and 

Native American persons, Asian Americans and Pacific Islanders, and other 

persons of color; members of religious minorities; lesbian, gay, bisexual, 

transgender, and queer (LGBTQ+) persons; persons with disabilities; persons who 

live in rural areas; and persons otherwise adversely affected by persistent poverty 

or inequality.)
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2. A business enterprise that certifies that it is owned and controlled by individuals 

whose residences are in Community Development Financial Institution (CDFI) 

Investment Areas, as defined by 12 CFR § 1805.201 (b)(3)(ii).

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3. A business enterprise that certifies that it will build, open, or operate a location in a 

CDFI Investment area, as defined in 12 C.F.R § 1805(b)(3)(ii); or

4. A business enterprise that certifies that it is located in a CDFI Investment Area, as 

defined in 12 CFR § 1805.201(b)(3)(ii).

For purposes of SEDI-owned business category 4 above, an eligible recipient under the 

SSBCI Investing in America SBOP may reasonably identify businesses located in CDFI 

Investment Areas based on businesses’ addresses from relevant TA applications or 

documentation without additional certification.

For purposes of the definition of “SEDI-owned business,” a business is “owned and 

controlled” by applicable individuals:

• If the business is privately owned, if 51 percent or more is owned by such individuals;

• If the business is publicly owned, if 51 percent or more of the stock is owned by such 

individuals; and

• In the case of a mutual institution, such as a non-profit, if a majority of the board of 

directors, account holders, and the community which the institution serves is 

predominantly comprised of such individuals.

• TA providers provide TA services to eligible beneficiaries and must be either jurisdiction 

entities (e.g., state agencies or government corporations) or LAF firms as described in 

Section C.3 below. 

• TA services are legal, accounting, and financial advisory services provided to eligible 

beneficiaries as described in Section C.4 below. 

• A VSB is a business with fewer than 10 employees, and includes independent contractors 

and sole proprietors.

1 For each calendar year, Treasury will use the list of CDFI Investment Areas identified by the CDFI Fund as of 

January 1 of that calendar year. If the CDFI Fund’s list is updated during that calendar year, the new list will not be 

adopted for purposes of the SSBCI Investing in America SBOP until the next calendar year, in order to provide 

advance notice to jurisdictions. Treasury has provided a mapping tool for the borrower or investee to use to identify 

whether the relevant address is in a CDFI Investment Area, available at https://home.treasury.gov/policyissues/small-business-programs/state-small-business-credit-initiative-ssbci/2021-ssbci/cdfi-fund-investment-areas.

The CDFI Fund evaluates Puerto Rico, but not other territories, in identifying CDFI Investment Areas. For purposes 

of the SSBCI, Treasury has also evaluated American Samoa, Guam, the Northern Mariana Islands, and the 

U.S. Virgin Islands and has determined that these territories in their entirety constitute CDFI Investment Areas, 

because each of these territories has a poverty rate of at least 20 percent. See 12 CFR § 1805.201(b)(3)(ii)(D)(1)). 
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3. Objectives

Treasury seeks to advance the following objectives through the SSBCI Investing in America 

SBOP:

• Connect VSBs and SEDI-owned businesses with loans or investments supported by the 

SSBCI Capital Program or other federal or other jurisdiction small business programs.

• Assist VSBs and SEDI-owned businesses to secure financing so they can access, 

leverage, and scale into business opportunities arising from legislation such as ARPA, the 

Bipartisan Infrastructure Law (BIL), the Creating Helpful Incentives to Produce 

Semiconductors and Science Act (CHIPS and Science Act), or the Inflation Reduction 

Act (IRA). 

• Incentivize innovation in the delivery of TA services through collaborations with other 

jurisdictions, SEDI-owned LAF firms, non-traditional TA providers, educational 

institutions, and community-serving organizations. For example:

o An applicant may propose a partnership, which may occur through a subaward or 

contract, with Community Navigators or other intermediaries that work with 

networks of TA providers, to quickly identify for the applicant SEDI-owned 

businesses and VSBs in need of TA services.

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o An applicant may show how an existing economic development cluster3 might 

leverage the reach of their proposed TA project. 

• Scale the impact of SSBCI Investing in America SBOP awards through matching funds,

including from the private sector.

As noted above, one objective of the program is to support eligible businesses as they connect 

and scale into opportunities resulting from or aligned with investments under federal legislation. 

Examples of such opportunities are: 

• Business opportunities related to BIL include high-speed internet expansion, road 

construction, airport modernization, power grid updates, and public transit expansion, all 

of which may include construction, engineering, installation, and manufacturing work.

• Business opportunities related to CHIPS include fabrication of semi-conductors, 

including the related supply chain logistics and needed service providers. 

• Business opportunities related to the IRA include the development or installation of 

renewable energy technologies; building weatherization and energy efficiency services; 

2 For more information on Community Navigators, see the Small Business Administration’s website at Community 

Navigators | U.S. Small Business Administration (sba.gov).

3 Please see Section D.2.b.iii.b under “Section 6: Proposed Solution” below for more information on how the term 

“economic development cluster” is defined for purposes of this program.
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and manufacturing of batteries, solar, and wind parts and the development of 

technologies like carbon capture systems and electrolyzers to make hydrogen, all of 

which may include construction, engineering, manufacturing, supply chain, and logistics

work. 

The following non-exhaustive examples help illustrate some types of TA projects that may 

receive high scores under this NOFO. Note that these are examples only and are not intended to 

limit an applicant’s program design. Experimentation and innovation are highly encouraged to 

maximize the impact of the TA services provided. 

• Tribe A identifies emerging supply chain business activity related to the BIL and CHIPS 

and identifies TA needs to enable businesses owned by Tribal members to scale into 

those business activities. Tribe A will partner (by contract or subaward) with 

TA providers owned by Tribal members to deliver services and has partnered with 

municipalities to market and identify TA beneficiaries. Tribe A has secured private 

matching funds from corporations that seek Tribal contracting and supply chain partners. 

• State B identifies supply chain and manufacturing opportunities related to the BIL, IRA, 

or CHIPS. The state’s proposed project identifies TA services needed to enable VSBs or 

SEDI-owned businesses to connect to those opportunities, and describes a need-based 

assessment that demonstrates the service is essential to improving the businesses’ chance 

of a successful SSBCI loan or investment decision. State B will partner (by subaward) 

with a local university and the state’s Manufacturing Extension Partnership Program 

center to manage the program. The subrecipients will contract with LAF firms to provide 

TA services (with a clear plan to prioritize LAF firms that are SEDI-owned businesses as 

prioritization is described in “Section 4: Key Partners and Project Support” of the 

Program Design and Substance in Section D.2.b.iii below) and have partnered with 

municipalities and Historically Black Colleges and Universities (HBCUs) throughout the 

state to market and identify TA beneficiaries. State B has secured private matching funds 

from corporations that seek underserved contracting and supply chain partners. 

• Tribe C, State D, and City E identify a region that is located within the geographic 

boundaries of all three jurisdictions, with great potential to leverage recent federal 

investments and where there is a need for TA services to help small businesses benefit 

from those investments. The three jurisdictions develop a clear plan to engage two 

TA providers with specific and extensive experience in assisting VSBs and SEDI-owned 

businesses to provide TA services throughout the multi-state region. Tribe C applies for 

the SSBCI Investing in America SBOP award (but State D and City E do not). Tribe C’s

application includes letters of support from the governor’s offices of State D, as well as 

from the economic development office of City E, detailing how the state and the city will 

support and be involved in the effort, including by providing independent non-SSBCI 

matching capital funds to leverage the award. 

• States F and G identify a distressed region with potential to leverage a growing economic 

development cluster. The states coordinate on a plan to support businesses in the region 
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with appropriate TA services to better leverage opportunities generated by the cluster. 

Both State F and State G submit separate, but complementary applications that clearly

indicate the two applications are meant to be read in concert. 

• State H identifies a region located within its borders with potential to connect eligible 

small businesses to opportunities created from federal investments. State H coordinates 

with Cities I and J to develop a plan with clear engagement from all three governments 

and that identifies TA providers with a track record of supporting eligible beneficiaries. 

State H submits an application that includes letter of support from the Mayors of Cities I

and J detailing how the cities will support State I’s application, including that Cities I and 

J will receive subawards from State H if State H receives an SSBCI Investing in America 

SBOP award. 

B. FEDERAL AWARD INFORMATION

1. Anticipated Total Amount to be Awarded 

Treasury anticipates $75 million in grant funding may be awarded under this NOFO. 

2. Anticipated Number and Amount of Awards

Treasury anticipates that it will make between 8 and 15 awards under this NOFO, with individual 

awards ranging from $5 million to $10 million. Treasury anticipates that larger awards will have 

a regional focus that involves collaboration between jurisdictions. The ranges in this paragraph 

are provided only for your information and may prove useful for planning purposes. Actual 

amounts awarded may be higher or lower, including based on the availability of funds.

3. Anticipated Type and Duration of Awards

Treasury anticipates awarding grants under this NOFO that will have a performance period of up 

to three consecutive years from the period of performance start date as specified in the award 

agreement. The length of the period of performance should be based on the assessed needs of the 

jurisdiction’s eligible small businesses and must be clearly articulated in all budget documents.

C. ELIGIBILITY INFORMATION

1. Eligible Applicants

Any state, territory, the District of Columbia, or Tribal government (each a “jurisdiction”) that 

has been approved as a participating jurisdiction in the SSBCI Capital Program is eligible to 

apply. Jurisdictions that are not yet approved as participating jurisdictions in the SSBCI Capital 

Program, but that have submitted complete and timely SSBCI Capital Program applications (or 

are part of a joint Tribal government application) are also eligible to apply; however, to receive 

an SSBCI Investing in America SBOP award, a jurisdiction must be approved as a participating 

jurisdiction in the SSBCI Capital Program.

In addition, the eligible applicant for a jurisdiction, which may be a specific department, agency, 

or political subdivision of the jurisdiction, will be required to submit a designation letter on 
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official letterhead signed by the governor of the state or mayor of the District of Columbia, or 

governing official of the territory or Tribal government. For more information, see “Applicant 

Letter of Designation” under Section D.2.b.i below. 

Groups of Tribal governments may apply jointly (i.e., in consortia). For additional requirements 

applicable to joint Tribal applications, please see TA Grant Program FAQ #3 “Can a 

Tribal-affiliated entity or non-Tribal entity apply for a TA grant, sign a TA Grant Agreement, 

and implement the grant on behalf of a group of Tribal governments” under Section III. Eligible 

Recipients, Beneficiaries, and TA Providers at 

https://home.treasury.gov/system/files/136/SSBCI-FAQs.pdf, which will apply to applications 

and grants under this NOFO.

States, territories, and the District of Columbia may not apply jointly, but an application from 

these applicants or from Tribal governments will receive more points if the TA program is 

designed to serve eligible small businesses in multiple jurisdictions within the same region. 

Cities and other municipalities (within or outside of a state applicant) are not themselves eligible 

applicants but are considered jurisdictions for the limited purpose of awarding regional 

collaboration points to eligible applicants. This may be achieved in one of four ways:

a. Only one collaborating jurisdiction submits an application, but includes letters of support 

from other jurisdictions detailing how the non-applying jurisdictions will support and be 

involved in the effort, including by providing independent non-federal matching funds to 

leverage the SSBCI Investing in America SBOP award.

b. Only one collaborating jurisdiction submits an application, but commits to making a 

subaward to another jurisdiction (consistent with Section C.3 below) to support a regional 

program.

c. Multiple Tribal governments submit a joint application.

d. Multiple states, territories, or the District of Columbia submit separate applications, but 

coordinate on a common plan and clearly indicate that their applications should be 

considered in concert. Because joint applicants are not permitted for these jurisdictions, 

Treasury reviewers will read these separate applications in concert but score them 

separately. Additional points for regional collaboration will only be awarded if multiple

coordinating jurisdictions are strong enough to be recommended for funding in 

accordance with the Senior Leadership Review described in Section E.2.c. If only one of 

the collaborating jurisdictions is slated to be recommended for funding, then no regional 

collaboration points will be awarded to any of the applicants and each application will be 

scored on its own merits. 

2. Eligible Beneficiaries

Eligible beneficiaries under this program are VSBs and SEDI-owned businesses that are 

applying for a jurisdiction’s SSBCI Capital Program or other federal or other jurisdiction small 

business program. See Section A.2, above for the definitions of “VSB” and “SEDI-owned 

business.”
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Some businesses may qualify as both VSBs and SEDI-owned businesses. A recipient can 

consider these businesses as VSBs, SEDI-owned businesses, or both for all purposes for grants 

made under this NOFO.

3. Eligible TA Providers

A recipient may (1) provide TA services itself under an SSBCI Investing in America SBOP

award, (2) make a subaward for certain subrecipients to provide TA services under an award, 

(3) contract with third-party LAF firms to provide the TA services, or (4) make a subaward to a 

non-federal entity (as defined at 2 CFR § 200.14) that is not an entity of the recipient (e.g., a state 

entity or other jurisdiction entity) or LAF firm, provided that:5

• A subrecipient must be either an entity of the recipient (e.g., a state agency or 

government corporation) or an LAF firm. See also FAQ # 1 “Can a state participating in 

the TA Grant Program make a subaward to a political subdivision of that state?” under 

Section III. Eligible Recipients, Beneficiaries, and TA providers at 

https://home.treasury.gov/system/files/136/SSBCI-FAQs.pdf, which will apply to 

applications and grants under this NOFO. 

• A third-party contractor must be an LAF firm. 

• In a subaward to a non-federal entity that is not an entity of the recipient or LAF firm, the 

subrecipient must act in an administrative role as a pass-through entity and must contract 

with or make subawards to jurisdiction entities or LAF firms that serve as TA providers

that will provide the TA services.

6 This includes subawards to other jurisdictions.7

Using SAM.gov, recipients must verify prior to entering into a subaward or contract that the 

subrecipient or contractor is not suspended, debarred, or otherwise excluded from or ineligible 

4 The regulation at 2 CFR § 200.1 defines “non-federal entity” as a state, local government, Indian tribe, institution 

of higher education, or nonprofit organization that carries out a federal award as a recipient or subrecipient.

5 Note that examples of potential TA providers or subrecipients used throughout this NOFO, such as Community 

Navigators, are only eligible to the extent that the specific proposed entity meets the criteria described in this 

section.

6 For example, a jurisdiction may make a subaward to a nonprofit entity that is not an LAF firm, which then makes a 

subaward to or contracts with LAF firms to provide TA services. The nonprofit entity will be responsible for the 

oversight of TA providers and reporting to the recipient. 

7 A subaward from a recipient jurisdiction to another jurisdiction or an entity of another jurisdiction is permissible if 

the subrecipient will act in an administrative role and will contract with or make subawards to LAF firms that serve 

as TA providers that will provide TA services (rather than providing TA services itself). Any subaward agreement 

must incorporate all the terms and conditions of the SSBCI Investing in America SBOP grant agreement and must 

include the information listed in 2 CFR § 200.332(a). A pass-through entity must require a subrecipient, including a 

lower-tier subrecipient, to comply with the terms and conditions of the SSBCI Investing in America SBOP grant

agreement, including the applicable requirements of the Uniform Guidance (2 CFR Part 200). In accordance with 

2 CFR § 200.332, pass-through entities must monitor subrecipients’ use of SSBCI Investing in America SBOP funds 

to ensure the subrecipients’ compliance with all SSBCI Investing in America SBOP award terms and conditions.
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for participation in federal assistance programs or activities pursuant to 31 CFR § 19.300 and 

2 CFR § 200.214.

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The regulation at 2 CFR § 200.331 provides guidance on determining when an entity is a 

subrecipient or a contractor. A recipient that makes a subaward to a subrecipient to carry out an

SSBCI Investing in America SBOP award is also known as a pass-through entity. 

A pass-through entity must execute a subaward agreement with the subrecipient, which is a 

legally binding written agreement that includes a budget consisting of separate line items 

reflecting the budget categories set forth in Section D.2.b.iv below or a fixed amount consistent 

with 2 CFR § 200.332. Any subaward agreement must incorporate all the terms and conditions 

of the SSBCI Investing in America SBOP grant agreement and must include the information 

listed in 2 CFR § 200.332(a).9 A pass-through entity must require a subrecipient, including a 

lower-tier subrecipient, to comply with the terms and conditions of the grant agreement, 

including the applicable requirements of the Uniform Guidance (2 CFR Part 200).

In accordance with 2 CFR § 200.332, pass-through entities must monitor subrecipients’ use of 

SSBCI Investing in America SBOP funds to ensure the subrecipients’ compliance with all award 

terms and conditions.

4. Eligible TA Services 

Funds provided under an SSBCI Investing in America SBOP award are for the provision of 

legal, accounting, and financial advisory services (i.e., TA services) intended to help VSBs and 

SEDI-owned businesses applying for SSBCI capital or for other federal or other jurisdiction 

programs that support small businesses. Such services include a wide variety of assistance 

throughout the business life cycle. 

Eligible TA services provided to an eligible beneficiary under an SSBCI Investing in America 

SBOP award include the following and other services that are similar to the following.

Legal Services

• Assisting with business formation or adopting corporate governance documents.

• Obtaining needed registrations, licenses, filings, and certifications.

• Advising on, or preparing documents for, the business to enter into contracts.

• Legal services related to the business obtaining capital from investors, such as the 

development of financial instruments, investment term sheets, purchase agreements, and 

shareholder rights agreements.

8 The “Help” tab on SAM.gov provides users with instructions on a variety of topics, including how to search for 

entity exclusions. To access the instructions on searching for exclusions, visit https://sam.gov/content/help and scroll 

down to “Help for Non-Federal Users.” Click on “Searching for Information in SAM.gov” and then click on 

“Looking for Exclusions.” You may also ask the Federal Service Desk at https://www.fsd.gov/gsafsd_sp.

 

9 See also 2 CFR § 200.101(b)(2) (Applicability to different types of Federal awards), which describes the 

applicability of 2 CFR Part 200 to various types of federal awards, including their application to subrecipients, and 

2 CFR §§ 200.331-333 (Subrecipient monitoring and management).
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• Legal services related to a transfer of ownership interests in a business, in the case of 

employee stock ownership plans (ESOPs) qualifying under section 401 of the Internal 

Revenue Code, worker cooperatives, employee ownership trusts, or related vehicles, 

provided that the transaction results in broad-based employee ownership for employees in 

the business and the employee stock ownership plan or other employee-owned entity 

holds a majority interest (on a fully diluted basis) in the business.

Accounting Services

• Preparing audits, financial statements, or business records.

• Digitizing financial records.

• Advisory services or training regarding accounting practices, recordkeeping, or 

accounting software.

Financial Advisory Services

• Assisting with the establishment of banking relationships or other financial services.

• Assisting with applications for government small business programs, including preparing 

financial analyses.

• Identifying sources of credit, capital, grants, and other financing.

• Advising on factors that may impede access to financing for the business.

• Advising on financial management.

• Developing presentations to potential investors, financial models, and business plans. 

The above list is not comprehensive of all eligible TA services that could assist an eligible small 

business beneficiary with applying for SSBCI capital or for another federal or other jurisdiction 

small business program. Applicants should consider services similar to those listed above that 

align with the needs of their eligible beneficiaries. 

Eligible TA services can be provided through a variety of delivery methods, including through 

consulting, mentoring, coaching, and advising on an individual basis; developing small group 

peer-to-peer learning cohorts, which may meet on a periodic basis; and providing TA to larger 

classroom-style groups targeted towards eligible beneficiaries. 

5. Non-Federal Matching Funds 

Non-federal matching funds (also referred to as cost sharing or third-party funds) are not 

required under the SSBCI Investing in America SBOP; however, applicants are encouraged to 

demonstrate an ability to leverage additional sources of funding in conjunction with the SSBCI 

Investing in America SBOP award to increase the impact of the award.10 Examples of private 

10 Matching funds committed under an SSBCI Investing in America SBOP award will be considered “voluntary 

committed cost sharing,” which is defined at 2 CFR 200.1 as “cost sharing specifically pledged on a voluntary basis 

in the proposal’s budget on the part of the non-Federal entity and that then becomes a binding requirement of 

Federal award.” See also 2 CFR § 200.306.
16

matching fund sources could include commitments from businesses, non-profits, including 

philanthropic partners, and the jurisdiction’s own non-federal funds. 

As further discussed under the “Budget and Timeline” evaluation criterion in Section E.1 below, 

applications that can demonstrate how the use of matching funds will be leveraged in 

conjunction with SSBCI Investing in America SBOP grant funds to make a significant impact in

providing needed TA services to eligible small businesses will be prioritized in the application 

evaluation criteria. Any proposed matching funds must be:

• Cash; 

• Included in the project budget; and 

• Available at the time of award, committed to the project, and not encumbered in any way 

that would preclude their use for the applicant’s proposed project.

11

In-kind contributions are prohibited as match under the SSBCI Investing in America SBOP.

12

For more information about the documentation required to support matching funds, see 

Section D.2.b.ix.a below.

6. Other Eligibility Requirements

Tribal Governments may apply jointly and may designate an “Agent for the Tribes” to act on 

behalf of the group of Tribal governments. For additional requirements applicable to joint Tribal 

applications, please see TA Grant Program FAQ #3 “Can a Tribal-affiliated entity or non-Tribal 

entity apply for a TA grant, sign a TA Grant Agreement, and implement the grant on behalf of a 

group of Tribal governments” under Section III. Eligible Recipients, Beneficiaries, and 

TA Providers, at https://home.treasury.gov/system/files/136/SSBCI-FAQs.pdf, which will apply 

to applications and grants under this NOFO.

States, territories, and the District of Columbia may not apply jointly, but can partner with one or 

more jurisdictions on projects of regional scope. In this case, one jurisdiction must submit the 

application and demonstrate a clear plan in the Program Design and Substance section of the 

application to provide TA services across jurisdiction lines or in a coordinated regional approach.

In addition, the application may include letters of support from governing bodies of the relevant 

partnering jurisdictions. For example, a jurisdiction may propose making subawards to 

partnering jurisdictions to provide TA services on a regional basis. See Section E.1 below for 

more information about how applications will be evaluated. 

11 A recipient under the SSBCI Investing in America SBOP is not precluded from later adding matching funds to an 

approved award during the period of performance. While post-award matching funds will not be considered during 

the application review process, when a recipient receives additional matching funds during the period of 

performance to provide TA services, the recipient must submit a request to Treasury for prior approval to amend its

approved grant budget to reflect the additional matching funds. See 2 CFR 200.308(c)(7).

12 In-kind contributions are the value of non-cash contributions (i.e., property or services) that (1) benefit a federally

assisted project or program and (2) are contributed by non-Federal third parties, without charge, to a non-Federal 

entity under a Federal award. As such, in-kind contributions must not be reflected in the applicant’s proposed project 

budget as a matching share.
17

D. APPLICATION AND SUBMISSION INFORMATION

1. Address to Request Application Package

An applicant must submit a complete application to be considered for funding through 

Treasury’s forthcoming portal, instructions for which will be posted on Treasury’s website. This 

NOFO will be available on Grants.gov and Treasury’s website.

2. Method and Content of Application Submission

An applicant must obtain, complete, and submit an application electronically through Treasury’s

Portal at https://portal.treasury.gov/cares/s/ssbci-home-page. Treasury will not accept paper, 

facsimile, or e-mail transmissions of applications unless the means of alternate submission has 

been approved in writing by Treasury prior to the application deadline. 

a. Alternatives to Submission through Treasury’s Application Portal

Treasury will only make exceptions to submission of applications through Treasury’s Portal to 

accommodate applicants’ accessibility requirements. Applicants needing to request such 

accommodation must contact Treasury at ssbci_information@treasury.gov (please reference 

“SSBCI Investing in America SBOP” in the email subject line). Regardless of submission 

method, all application materials must be submitted by the deadline.

b. Content of Application 

All applicants for grants under this NOFO must provide certain information in their application

and supporting documentation to be considered for funding under the SSBCI Investing in 

America SBOP. Treasury will establish an online portal for eligible applicants to submit their 

applications. 

The table below provides a summary of the application elements, with additional detail on each 

element provided below. In addition, the application template will be posted on Treasury’s 

website.

Application Documents

i. Applicant Letter of Designation 

ii. Delegation of Authority and Joint Tribal Application Designation Documentation (if 

applicable)

iii. Program Design and Substance

iv. Budget Narrative (using the budget categories of Form SF-424A “Budget Information 

– Non-Construction Programs”)

v. Negotiated Indirect Cost Rate Agreement/Cost Allocation Plan (if applicable)

vi. Form SF-LLL “Disclosure of Lobbying Activities” (if applicable)

vii. Assurances of Compliance with Civil Rights Requirements

viii. SSBCI Investing in America SBOP Assurances and Certifications 

ix. Other Supporting Documentation (if applicable)
18

i. Applicant Letter of Designation 

The eligible applicant, which may be a specific department, agency, or political subdivision of 

the relevant jurisdiction, will be required to submit a designation letter on official letterhead 

signed by the governor of the state. or mayor of the District of Columbia, or governing official of 

the territory or Tribal government stating or evidencing that they have designated the eligible 

applicant to do the following on behalf of the jurisdiction: 

• Submit the SSBCI Investing in America SBOP application;

• Sign the SSBCI Investing in America SBOP grant agreement on behalf of the eligible 

jurisdiction as the grant recipient, if approved;

• Receive and disburse SSBCI Investing in America SBOP funds, if approved; and

• Carry out the grant objectives on behalf of the eligible jurisdiction as the grant 

recipient, if approved.

This letter should include the title of the SSBCI Investing in America SBOP Authorized Official, 

who is the applicant official authorized to sign the application and grant agreement and make

decisions on behalf of the eligible jurisdiction as the grant recipient under the program.

In some cases where the governor, mayor, or governing official of the jurisdiction designates an 

entity as the recipient that does not appear to be a traditional agency, department, or subdivision 

of the jurisdiction (e.g., a quasi-governmental entity or a small business development center 

connected with a state university), a jurisdiction official, such as an official within the governor’s 

office or a department of the jurisdiction, may be required to sign the award agreement and agree 

that the jurisdiction will be responsible for the payment in full of any debt owed to the federal 

government in accordance with the terms of the award agreement and for performing all 

obligations of the designated recipient under the award agreement if the recipient for any reason 

does not do so in a timely manner. 

The eligible applicant will also be required to input certain identifying information about the 

applicant and the SSBCI Investing in America SBOP Authorized Official in Treasury’s Portal, 

including the applicant’s name, UEI, and contact information, and contact information for the 

designated Authorized Official. Please see the forthcoming application template, which will be

posted on Treasury’s website for more information. 

ii. Delegation of Authority and Joint Tribal Application Designation 

Documentation (if applicable)

If the Authorized Official named in the application has delegated the authority to another official 

of the applicant jurisdiction to certify and electronically sign the application on behalf of the 

jurisdiction, documentation evidencing the delegation of authority must be submitted to Treasury 

on official letterhead. In addition, joint Tribal applications require additional information. The 

forthcoming application template (which will be posted on Treasury’s website) will provide 

additional information on both of these requirements. 
19

iii. Program Design and Substance

a. Format

The description of Program Design and Substance should be a maximum of 15 total pages

(12-point font, one-inch margins), including any exhibits or attachments. Material beyond 

15 pages will not be read or considered.

b. Content and Structure

Section 1: Executive Summary: up to one page

Applicants must include a succinct overview of the proposed project and activities. The 

executive summary should include what the applicant plans to accomplish, a summary of the 

proposed activities and deliverables, and a brief description of the potential broader impact of the 

grant’s successful completion. 

Section 2: Description of Project Service Area and Potential to Connect Eligible 

Beneficiaries to Opportunities

Provide a description of the project’s location and region, including the areas of impact and the 

targeted participants to be served. Applicants should include a description of the service area’s 

existing resources and assets to support small businesses, which may include networks of 

existing TA providers and services or jurisdiction financial resources, and an explanation of the 

rationale for the service area’s selection. Projects may cover a service area that is regional or 

multi-jurisdictional, which should be clearly outlined in this section.

In this section, applicants should describe the types of business opportunities the project is 

designed to help eligible beneficiaries access and leverage. Such opportunities might include 

those arising from ARPA, BIL, the CHIPS and Science Act, or the IRA or from an existing 

economic development cluster.13 Applicants should also provide an assessment of the needs of 

eligible beneficiaries in the project service area in accessing and leveraging the identified 

opportunities and any limitations or gaps in coverage in providing TA services to eligible 

beneficiaries. 

Section 3: Proposed Solution

Applicant must describe their proposed solution and how it aligns with the needs of the 

eligible beneficiaries and overcomes any limitations or gaps in coverage in providing 

TA services, as described in Section 2 of the Program Design and Substance above. The 

proposed solution should describe how the proposed project will help eligible beneficiaries 

access, leverage, and scale into identified opportunities. This section should also include an 

explanation of how the proposed project supports eligible small business beneficiaries 

applying for the SSBCI Capital Program, and other programs that support small businesses. 

Applicants should describe how the project is connected to relevant small business programs 

13 For purposes of the SSBCI Investing in America SBOP, an economic development cluster means a network of 

similar, synergistic, or complementary entities that support an industry sector and its various supply chains. See also

the definition of “Regional Innovation Clusters or RICs” at 13 CFR 300.3. The applicant should clearly define the 

relevant local economic development cluster and how the proposed TA project supports the cluster.
20

and provide evidence that demonstrates how the applicant will leverage other existing 

programs and funding sources that currently assist VSBs and SEDI-owned businesses and 

describe how the project will launch new programming or scale existing programming aimed 

at reaching currently eligible beneficiaries that are currently underserved. Applicants should 

demonstrate clearly how the project will create added benefits for the project service area’s 

VSB and SEDI program infrastructure and provide data to support claims.

Applicants should provide information and data that they have used to design their proposed 

project in a way that effectively addresses eligible beneficiaries’ needs, particularly 

information and data on barriers to capital access and how the project will address those needs 

to connect beneficiaries to identified opportunities. Information and data may include 

information from organizations and businesses associated with eligible beneficiaries; historical 

records and research reports on the need for small business TA services in the project service 

area; and statistical data on local economic conditions such as unemployment or job-creation 

numbers. 

Section 4: Key Partners and Project Support

Applicants should describe their current partner network, including public and private entities 

at the national, state, regional, and local level, that will be working on the project. Applicants 

should identify the TA providers they plan to work with under the SSBCI Investing in 

America SBOP or examples of TA providers that are representative of the network of 

providers they intend to work with. If target partners are not identified, applicants should 

describe their strategy for identification and outreach. Through the application evaluation 

criteria, Treasury will prioritize applicants that demonstrate how they improve on any selfidentified limitations in their traditional networks to engage new and innovative partnerships, 

beyond the reach of their formula SSBCI TA Grant programs. 

Applicants should describe partners’ roles and responsibilities on the project and include 

information about any past collaboration efforts. Applicants should also describe concrete 

outreach plans to engage new partners that will support the project. 

Applicants should describe their strategy to reach VSBs and SEDI-owned businesses, such as 

regular internal organization meetings to assess project implementation and planned outreach 

efforts (e.g., publicity, e-mail campaigns, neighborhood canvassing).

As part of Section 4, the applicant must address the statutory requirement relating to 

prioritization of SEDI-owned TA providers by describing efforts to prioritize SEDI-owned 

providers to work on the project. If an applicant chooses to contract with third parties to 

deliver TA services, the applicant must prioritize providers that are SEDI-owned businesses, 

consistent with any applicable federal, state, and local requirements. In its application, the 

applicant must explain how it will implement this requirement and prioritize such providers. 

For purposes of this requirement, prioritization may be satisfied by having (i) a partnership 

with one or more SEDI-owned TA providers, or (ii) procurement processes, outreach efforts, 

and a program design that enables SEDI-owned TA providers to be reached. 
21

Section 5: Organizational Capacity and Experience

Applicants should articulate the relevant prior experience of the applicant and any proposed 

TA providers and describe the ability of both to execute the project. If TA providers have not 

yet been selected, the application should include a description of the process for identifying 

future TA providers, such as applicants’ procurement processes.14 Applicants must discuss 

their capability to directly implement the TA project or to manage subrecipient or contractor 

implementation. Applicants must also discuss any subrecipient’s or contractor’s capability to 

implement the TA project or to manage the implementation of lower-tier subrecipients or 

contractors. Applicants must discuss the process, sources, and tools used in identifying and 

determining the capability of the TA providers. 

Section 6: Performance Goals and Measures

Applicants are required to describe the goals of their proposed project and the output, outcome, 

and impact-based performance measures and benchmarks they will use to achieve those goals. 

Applicants’ goals must align with the overarching performance goals of the SSBCI Investing in 

America SBOP award to provide TA services to eligible beneficiaries, as described in the 

overview of this NOFO. Applicants’ performance measures must align with Treasury’s 

minimum performance measures set out below. If awarded, Treasury through performance 

reports will track the recipients’ progress in implementing the performance measures outlined in 

their application to meet the performance goals of the award. 

The following are Treasury’s minimum performance measures, with which applicants’

performance measures must align:

• Number of eligible beneficiaries that received TA services;

• 2017 North American Industry Classification System (NAICS) for each eligible 

beneficiary;

• Primary purpose of the TA service or TA services provided to each eligible 

beneficiary; and

• Identity of each TA provider.

14 In accordance with 2 CFR § 200.317, recipients that are states, the District of Columbia, and territories must 

follow the same policies and procedures they use for procurements from their non-federal funds and comply with 

2 CFR §§ 200.321, 200.322, 200.323, and 200.327. This means that these jurisdictions must use their own policies 

and procedures, subject to the SSBCI statutory requirement described in Section 4: Key Partners and Project Support

of the Program Design and Substance section to prioritize SEDI-owned businesses as TA providers. Tribal 

governments must follow the procurement standards in 2 CFR §§ 200.318-200.327, which include the requirement 

that recipients and subrecipients must maintain written standards of conduct covering conflicts of interest and 

governing the performance of their employees engaged in the selection, award, and administration of contracts. No 

employee, officer, or agent may participate in the selection, award, or administration of a contract supported by a 

federal award if he or she has a real or apparent conflict of interest. See Section F.4 of this NOFO for further 

information about conflicts of interest. Notwithstanding the above, if awarded, all jurisdictions and their 

subrecipients must maintain a conflict-of-interest policy consistent with 2 CFR § 200.318(c) that is applicable to all 

activities funded under the SSBCI Investing in America SBOP award.
22

The following sample output, outcome, and impact-based measures are examples of the types of 

performance measures that applicants may include in a proposed project. These are examples 

only and applicants are not required to include all of these measures.

Output measures Number of coaching/mentoring sessions delivered 

by the project

Number of classroom-style events completed by 

the project

Number of referrals of eligible beneficiaries to 

small business programs

Outcome measures SSBCI capital applications submitted by eligible 

beneficiaries participating in the project

Successful SSBCI capital applications for eligible 

beneficiaries participating in the project

Average increase in the revenue of participating 

eligible beneficiaries

Additional funding secured or leveraged through the 

project 

Impact-based measures Jobs created by eligible beneficiaries assisted by the 

project

Total amount of debt or equity investments secured by 

eligible beneficiaries assisted by the project

See also Section F.3 below for more information about reporting required under a TA award. 

iv. Budget Narrative

a. Overview 

The applicant must provide a budget narrative using Treasury’s budget narrative template, which 

will be posted on Treasury’s website. The applicant must identify and explain how funds in each 

line item of the budget will be used to support the proposed SSBCI Investing in America SBOP

project. The budget narrative must provide specific justification for all budget categories that 

apply, including eligible direct cost categories (i.e., personnel, fringe benefits, travel, equipment, 

supplies, contractual, and other), eligible indirect costs, and program income. The budget 

narrative must include an explanation of the necessity, allowability, reasonableness, and 

allocability of proposed costs. Eligible costs must be determined in accordance with 2 CFR Part 

200 Subpart E and other program guidance, including Section D.2.b.iv of this NOFO. Each cost 

category should be treated consistently in like circumstances as direct or indirect costs, and 

applicants must not double-count any costs as both direct and indirect costs. The budget narrative 

should not repeat information provided in the Program Design and Substance section but should 

provide additional detail needed to understand the amounts allocated to each budget line item. 

While matching funds are not required under the SSBCI Investing in America SBOP, any 

voluntary matching funds committed to the proposed project must be clearly identified in the 
23

budget narrative. See Section D.2.b.ix.a below for required documentation applicable to 

matching funds. 

If applicable, the applicant must clearly describe any proposed pre-award costs in the budget 

narrative.15

Recipients of an SSBCI Investing in America SBOP award must expend the award funds in 

accordance with the approved budget. Recipients are required to report deviations from the 

approved award budget and request prior written approval from Treasury in accordance with 

2 CFR §§ 200.308 and 200.407. In accordance with 2 CFR § 200.308(f), transfers of funds by 

the recipient among direct cost categories are permitted for awards in which the federal share of 

the project is equal to or less than the simplified acquisition threshold, which is currently 

$250,000. For awards in which the federal share of the project exceeds the simplified acquisition 

threshold, transfers of funds among direct cost categories must be approved in writing in 

accordance with 2 CFR § 200.308(f) by Treasury when the cumulative amount of such direct 

costs transfers exceeds 10 percent of the budget as last approved by Treasury. 

The recipient (and any subrecipient implementing an award) must maintain a financial 

management system that meet the requirements of 2 CFR § 200.302, including records that 

document the expenditure of funds under an award.

b. Allowable Costs by Budget Category

A complete budget narrative must include the following categories, as applicable to the proposed 

project budget.

Personnel

This refers to salaries and wages paid to employees of the applicant who are directly involved in 

SSBCI Investing in America SBOP award implementation. The budget narrative must identify 

the personnel category type by full-time equivalent employees (FTEs),

16 including FTE 

equivalents for part-time employees, number of personnel proposed for each personnel category, 

and the estimated funding amounts. The budget narrative should identify positions by title and 

function, include a brief description of duties, and state the rate of compensation and the amount 

of time to be allocated for each position. This line item does not include personnel of 

subrecipients; those costs are included in the “Contractual” line item below. See also 2 CFR

§ 200.430 (Compensation – personal services).

Fringe Benefits

This refers to the allowances and services the applicant provides to its employees as 

compensation in addition to regular salaries and wages. Fringe benefits include, but are not 

15 See Section D.6 below for requirements applicable to any proposed pre-award costs. 16 This is determined by adding (i) the number of full-time employees and (ii) the number of part-time and seasonal 

employees as a fraction of a full-time employee. For example, if a business has 100 employees working full-time 

(assuming a full-time week of 40 hours) and 50 employees working 20 hours per week, the total number of FTEs 

would be 125. For seasonal employees, the FTE count is based on a 2,080-hour year, so that an employee who 

works 520 hours per year counts as 0.25 FTE.
24

limited to, the costs of leave (vacation, family-related, sick, or military), employee insurance, 

pensions, and unemployment benefit plans. The budget narrative must provide a basis for the 

applicant’s fringe benefit amount. See also 2 CFR § 200.431 (Compensation – fringe benefits).

Travel

This refers to the expenses for transportation, lodging, subsistence, and related items incurred by 

employees who are in travel status on official business of the applicant. Such costs may be 

charged on an actual cost basis, on a per diem or mileage basis in lieu of actual costs incurred, or 

on a combination of the two, provided the method used is applied to an entire trip and not to 

selected days of the trip, and results in charges consistent with those normally allowed in like 

circumstances in the applicant’s non-federally funded activities and in accordance with the 

recipient’s written travel reimbursement policies. The budget narrative must provide an 

estimated number of trips, points of origin and destination, and purpose of travel. It should also 

show how each trip (or type of trip) is needed to achieve the goals and objectives of the 

applicant’s proposed projects. This line item does not include a subrecipient’s travel expenses; 

those costs are included in the “Contractual” line item. See also 2 CFR § 200.475 (Travel costs).

Equipment

This refers to tangible personal property (including information technology systems) having a 

useful life of more than one year and a per-unit acquisition cost that equals or exceeds the lesser 

of the capitalization level established by the applicant for financial statement purposes or the 

threshold provided in 2 CFR § 313(e)(1). The budget narrative must include an itemized listing of 

any proposed equipment to be purchased under the grant agreement. For each item to be 

purchased, provide an estimated unit cost, estimated useful life, basis for the estimated useful 

life, and justification for the purchase. Include a lease versus purchase analysis for each item of 

equipment. See the definition of “equipment” at 2 CFR § 200.1.

Supplies

This refers to all tangible personal property other than equipment to be purchased under the grant 

agreement. For example, a computing device is a supply if the acquisition cost is less than the 

lesser of the capitalization level established by the applicant for financial statement purposes or 

the threshold provided in 2 CFR § 314(a) regardless of the length of its useful life. The budget 

narrative must include a brief description of and justification for the supplies required to perform 

the work. These costs should be listed by major supply categories (e.g., office supplies, computer 

supplies), and include the estimated costs by category. See the definition of “supplies” at 2 CFR

§ 200.1.

Contractual

This refers to purchases of property or services needed to carry out the project under the grant 

agreement. It is not specific to the legal instrument used, so this line item must include proposed 

subawards and contracts. The budget narrative should clearly identify the amount of funds the 

applicant intends to award via contract or subaward, as well as the purpose of amounts to be 

awarded via contract or subaward. 
25

The applicant may provide the overall amount the applicant intends to award via contract or 

subaward. If known, the applicant may also identify each proposed contract and specify its 

purpose and estimated cost. Treasury expects the applicant to make reasonable efforts to carry 

out its project as proposed in the application, but Treasury recognizes that a plan regarding 

proposed TA providers may change over time. Post-award changes in the set of proposed 

TA providers are permitted subject to the restrictions on moving funds among direct cost 

categories described in Section D.2.b.iv.a above. See also the requirements for TA providers in 

Section C.3, and the requirements of the Uniform Guidance (2 CFR Part 200), including 

requirements applicable to subawards and procurements. Before disbursing funds to any 

proposed subrecipient, the recipient must identify the subrecipient and provide Treasury with an

itemized subrecipient budget using the same line items as specified here, with appropriate 

justification in a budget narrative.

Other

This refers to direct costs that do not fit any of the above categories, such as rent for buildings 

used to conduct award activities, utilities, or leased equipment, and costs for recipient personnel 

training. The budget narrative should list and describe other items by major type, provide a cost 

estimate or budget for each item, and describe the basis for the cost estimates or budget 

computations.

Indirect Costs

In accordance with 2 CFR § 200.1, indirect costs are defined as those costs incurred for a 

common or joint purpose benefitting more than one cost objective (i.e., program, function, 

activity, award, organizational subdivision, contract, or work unit), and not readily assignable to 

the cost objectives specifically benefitted, without effort disproportionate to the results achieved. 

Indirect costs must be supported by either a current federally approved Negotiated Indirect Cost 

Rate Agreement (NICRA) or, if the recipient does not have a current NICRA and receives less 

than $35 million in direct federal funding per year in accordance with Section D.1.b of 

Appendix VII to 2 CFR Part 200, the applicant may elect to use the de minimis indirect cost rate, 

10 percent of modified total direct costs (MTDC), as defined at 2 CFR § 200.414(f). Applicants 

electing to use the de minimis rate should specify in the budget narrative that the recipient does 

not have a current NICRA and is electing to take the 10 percent de minimis rate. See Section v 

below.

c. Unallowable costs (expenses that will not be funded)

The items listed in this section are generally considered unallowable and will rarely be approved 

by Treasury. Before including any of these items in your budget and application, please contact 

Treasury at ssbci_information@treasury.gov (please reference “SSBCI Investing in America 

SBOP” in the email subject line). The same unallowable costs identified across the different 

budget categories are also unallowable under subawards. Note that unallowable costs listed 

below are typically unallowable no matter which category they are placed under.
26

This is not an exhaustive unallowable costs list, and items not listed below will be reviewed on a 

case-by-case basis. Treasury reserves the right to deny funding for items not included on this 

unallowable cost list. See also Section D.6 “Funding Restrictions” below. 

Unallowable Personnel Costs 

If your organization charges an indirect cost, those costs normally include the following 

positions, and therefore these positions should not be charged as personnel costs to avoid 

possible duplication:

• Administration (e.g., director or program head).

• Clerical (e.g., secretary or administrative assistant).

• Accounting (e.g., controller or bookkeeper).

• Procurement (e.g., purchasing director or stockroom clerk).

• Housekeeping and maintenance (e.g., custodial and janitorial, repairman, or grounds 

keeper). NOTE: These positions can be charged directly if the individual is working a 

significant amount of time on the project. This will be approved on a case-by-case basis,

and your narrative should clearly articulate the need to charge these directly, if 

applicable.

• Salaries and benefits of personnel that do not work directly on the project.

• Salaries and benefits for contract or consultant personnel (such costs should be placed 

under the “Contractual” budget category).

Unallowable Fringe Benefits

If an applicant’s indirect cost rate agreement includes fringe benefits, the applicant may not 

charge these costs directly to the project. 

Unallowable Travel

Typically, unallowable travel costs include, but are not limited to, the following: 

• Bar charges/alcoholic beverages.

• Costs exceeding Federal Travel Regulations if no other organizational written policy is 

supplied that supersedes these established rates.

• Credit card fees.

• Entertainment, including amusement, diversion, social activities, and any associated costs 

(e.g., tickets to shows or sports events, meals, lodging, rentals, transportation, and 

gratuities).

• Foreign travel. 

Unallowable Supplies

Typically, unallowable supply costs include, but are not limited to, the following: 

• Conference or event swag, including T-shirts, bags, or mugs. 

• Promotional items and memorabilia, including challenge coins, pins, models, gifts, and 

souvenirs. 

• Shared items between projects. If supplies are to be used for concurrent projects, then this 

should be captured in your indirect charges or you should only charge the percentage 
27

allocated to this project (for example, if a laptop is being purchased for a program 

assistant who works 40 percent of their time on the project, then only charge 40 percent 

of the laptop cost to the project). 

Unallowable Contractual Costs

Typically, unallowable costs under procurement contracts include, but are not limited to, the 

following: 

• Compensation of federal employees. This category of unallowable costs includes salary 

payments, consulting fees, or other compensation to full-time federal employees.

• Building-based construction costs (i.e., any activity that disturbs the ground or modifies a 

structure). 

• Costs required for the establishment or reorganization of a recipient, subrecipient, or 

contractor under an award. 

Unallowable Other Costs 

Typically, unallowable other costs include, but are not limited to, the following: 

• Advertising and public relations designed solely to promote the recipient. 

• Costs for audits not required or performed in accordance with the Office of Management 

and Budget (OMB) Circular A-133 or 2 C.F.R. Part 200 Subpart F – Audit Requirement 

are unallowable. If the applicant organization did not meet the applicable expenditure

threshold during the organization’s fiscal year, the cost of any audit performed may not 

be charged to the award. 

• Membership fees to organizations whose primary activity is lobbying. 

v. Negotiated Indirect Cost Rate Agreement/Cost Allocation Plan (if applicable)

If indirect costs are proposed in the budget, such costs must be supported by either a current 

federally approved Negotiated Indirect Cost Rate Agreement (NICRA) or, if the applicant does 

not have a current NICRA and receives less than $35 million in direct federal funding per year in 

accordance with Section D.1.b of Appendix VII to 2 CFR Part 200, the eligible recipient may 

elect to use the de minimis indirect cost rate, 10 percent of modified total direct costs (MTDC), 

as defined at 2 CFR § 200.414(f).

vi. Form SF-LLL “Disclosure of Lobbying Activities” (if applicable)

Form SF-LLL is required for an applicant to disclose any lobbying activities pursuant to 

31 U.S.C. § 13.52. If an applicant does not have any lobbying activities to disclose, 

Form SF-LLL is not required to be submitted with the application. 

vii. Assurances of Compliance with Civil Rights Requirements

If approved, SSBCI Investing in America SBOP recipients must comply with legal requirements 

related to nondiscrimination and nondiscriminatory use of federal funds, where such laws are 

applicable to a recipient and any subrecipient or contractor operating program activities on the 

recipient’s behalf. To confirm that you will comply with these legal requirements if approved for 
28

SSBCI Investing in America SBOP funding, all state, D.C., and territory applicants must 

download, review, and have the SSBCI Investing in America SBOP Authorized Official sign the 

assurances of compliance with civil rights requirements form (which will be made available in 

Treasury’s forthcoming portal or on Treasury’s website) and upload the signed form in 

Treasury’s forthcoming application portal.

viii. SSBCI Investing in America SBOP Assurances and Certifications 

All applicants must review, sign, and submit the SSBCI Investing in America SBOP Assurances 

and Certifications which will be included with the application. Please read these documents 

carefully, as a signature on each document is treated as a material representation of fact upon 

which reliance will be placed when Treasury makes an award determination regarding your 

application. If awarded, these Assurances and Certifications will become part of the grant 

agreement.

ix. Other Supporting Documentation (if applicable) 

a. Letter(s) of Matching Funds Commitment

If an applicant includes proposed matching funds in the project budget, all such funds must be 

documented by a letter of commitment from each provider of the funds, as applicable, that 

clearly:

• States the amount; and 

• States or evidences that the funds are available, committed, and unencumbered. 

Matching funds that do not have corresponding letters of commitment will not be 

considered in the application review process. Applicants are not required to submit a 

corresponding letter if they do not propose matching funds.

Each letter of commitment must be signed by an authorized representative of the contributing 

organization and should include that organization’s contact information, to enable Treasury to 

verify the terms included in the document. Each letter must:

o State the complete value of the cash matching funds.

o State or evidence that, at the time of award, the matching funds:

o Are committed to the project;

o Will be available as needed; and 

o Are not conditioned or encumbered in any way that would preclude their use 

consistent with the requirements of an SSBCI Investing in America SBOP

award.

b. Optional Programmatic Supporting Documentation

While not required, applicants may provide documents that substantiate elements of their 

application and their ability to successfully execute the project. These documents may include: 
29

• Letters from other jurisdictions, including municipalities, demonstrating a plan to 

coordinate on a regional approach (as consistent with Section C.1 above); and 

• Letters of partnership support, which detail the specific roles and responsibilities of 

engaged project partners.

Though these documents are not required for a complete application, applicants that provide such 

documentation will be prioritized through the evaluation criteria. Applicants should not include 

information not directly related to their application under this NOFO; Treasury will not consider 

information that is unrelated to the application or repeats information required in other sections 

of this application. 

c. Title VI of the Civil Rights Act of 1964 Narrative Form

Any state, the District of Columbia, or territory that is recommended for funding under this 

NOFO will be required to undergo a Title VI of the Civil Rights Act pre-award compliance 

review before being funded and be required to complete a Title VI Narrative form that will be 

separately provided by Treasury. To expedite this review, applicants may, but are not required to 

submit a Title VI Narrative form with the SSBCI Investing in America SBOP application which

will be posted on Treasury’s website. If any item listed in the Title VI Narrative form is not 

relevant to the project for which federal financial assistance is requested, the item should be 

marked as “not applicable.” Applicants may refer to Treasury’s guidance on limited English 

proficient (LEP) persons when preparing their application for providing language assistance to 

persons with limited English proficiency.

In lieu of a Title VI Narrative form, applicants may submit a Title VI compliance form recently 

prepared and submitted (within one calendar year) to another federal agency to expedite this 

pre-award compliance review. If any information required by Treasury in the Title VI Narrative 

form is not included in the other agency’s Title VI compliance form, the missing information 

should be submitted with the application on the Title VI Narrative form to expedite the preaward compliance review. 

See Section E.4 below for more information on the Title VI of the Civil Rights Act pre-award 

compliance review.

3. Unique Entity Identifier and System for Award Management (SAM)

In accordance with the Federal Funding Accountability and Transparency Act of 2006, 

applicants are required to (i) be registered in SAM before submitting an application; (ii) provide 

a valid unique entity identifier (UEI) in the application (a valid UEI is also required for 

subrecipients); (iii) make certain certifications; and (iv) continue to maintain an active SAM 

registration with current information at all times during which they have an active federal award 

or an application or plan under consideration by a federal awarding agency. In addition, passthrough entities must ensure that any subrecipient is registered in SAM.gov before disbursing 

any award funds to that subrecipient.
30

Treasury may not make a federal award to an applicant until the applicant has complied with all 

applicable UEI and SAM.gov requirements, and if an applicant has not fully complied with the 

requirements by the time Treasury is ready to make an award, Treasury may determine that the 

applicant is not qualified to receive an award and use that determination as basis for making an 

award to another applicant. If awarded a grant, a recipient will be subject to reporting 

requirements outlined in award terms of the appendices of 2 CFR parts 25 and 170 that will be 

incorporated by reference into the grant agreement. 

4. Creating an ID.me Account for Treasury Portal Access

An applicant must create an ID.me account to submit an application through Treasury’s Portal 

under the SSBCI Investing in America SBOP. ID.me is a certified commercial identity provider 

offering Identity Assurance Level (IAL) 2 and Authentication Assurance Level (AAL) 2 

credentials. The requirements for credentials to access the Treasury Portal are defined by NIST 

SP 800-63 v3 (Digital Identity Guidelines).

Follow the steps below to receive a verified username and password. The entire process should 

take 5-10 minutes. 

To get started, visit Treasury’s ID.me “Create Account” page.

Step 1: Enter your e-mail and 

select a password

We recommend using the e-mail address you will use in your 

SSBCI Investing in America SBOP application for the 

primary contact to be notified regarding the application.

Step 2: Set up two-factor 

authentication

We recommend using a cell phone with text messaging

capability; however, other options are available.

Step 3: Verify your Identity Submit a picture of a government-issued photo ID. (If 

needed, you can call to verify your identity instead.)

When finished, you will receive a confirmation e-mail allowing you to log in to the Treasury 

Portal with your new ID.me username and password. 

If you have questions, detailed enrollment instructions can be found in the ID.me Help Center. 

5. Submission Dates and Times

The deadline for submitting an application to Treasury via the application portal is 60 calendar 

days from the date the SSBCI Investing in America SBOP application is available. Treasury will 

publish a separate notification when the application is published that specifies the application 

deadline and will update this NOFO accordingly. Applications will only be accepted 

electronically through Treasury’s Portal. Treasury strongly recommends that applicants 

submit applications substantially before the application submission deadline. Applications 

received after the application deadline will not be considered for funding.
31

Treasury will not accept any unsolicited changes, additions, revisions, or deletions to 

applications or supporting documents after the application submission deadline. Throughout the 

review and selection process, Treasury reserves the right to seek clarification from applicants 

whose applications are being reviewed and considered.

6. Funding Restrictions

Eligible costs made in an award under this NOFO are costs of providing TA services to eligible 

beneficiaries. 

In accordance with 2 CFR §§ 200.458 and 2 CFR 200.308(e)(1), Treasury will not allow 

reimbursement for costs incurred before an award is made (i.e., pre-award costs), unless a 

recipient demonstrates that the costs were incurred directly pursuant to the negotiation and in 

anticipation of the award, and that the costs were necessary for the efficient and timely 

performance of the scope of work. Pre-award costs are allowable only to the extent that they 

would have been allowable if incurred after the date of the award and only with Treasury’s 

written approval. All costs incurred before Treasury makes the award are at the eligible 

recipient’s risk. Any pre-award costs should be requested as part of an application under this 

NOFO. The application must clearly describe the proposed pre-award costs in the scope of work 

and budget justification, and provide a compelling justification as to why Treasury should 

approve them. 

Treasury recognizes that in many circumstances, having adequate facilities is important to a 

successful award under this NOFO. As such, costs related to securing adequate space (e.g., rent, 

leases) and other non-construction capital costs are allowable costs under this program. 

Building-based construction project costs (i.e., any activity that disturbs the ground or modifies a 

structure) are not allowable costs. 

E. APPLICATION REVIEW INFORMATION

Throughout the application review and selection process, Treasury, at its sole discretion, may 

seek clarification, including but not limited to written clarifications and corrected or missing 

documents, from applicants whose applications are being reviewed and considered and require 

that applicants provide such clarifications or corrections to continue to be considered for an 

award under this NOFO. Treasury will provide applicants a reasonable amount of time to 

provide any additional documentation that Treasury requests. An applicant’s failure to provide 

complete and accurate supporting documentation in a timely manner when requested by Treasury 

may result in removal of that application from consideration. Treasury may ask applicants to 

clarify application materials, objectives, and work plans, or modify budgets or other specifics as 

necessary to comply with federal requirements and the amount of available funding. Treasury, in 

its sole discretion, may continue the review process for applicants with issues that may be easily 

rectified or cured. 
32

1. Evaluation Criteria 

Applications submitted for a grant under this NOFO will be reviewed and scored competitively 

against the following criteria. Each criterion is given a weight, based on the points listed. Merit 

reviewers will respond to prompts for each criterion by indicating the extent to which they agree 

with the statement as it applies to the application, from “strongly disagree” (1 point) to “strongly 

agree” (5 points):

17

1 2 3 4 5

Strongly 

Disagree

Disagree Neutral Agree Strongly Agree

Proposed Goals and Proposed Solutions (40 points total)

This criterion considers whether the applicant’s proposed goals and solutions align with the 

assessed TA needs of small businesses in the project’s service area to connect them with capital. 

Treasury reviewers will consider the following factors to score this criterion:

 To what extent do you agree that the application identifies specific TA opportunities 

to connect businesses to capital needed to participate in an existing economic 

development cluster or to participate in manufacturing, supply chain, or contracting 

opportunities, particularly including opportunities generated by recent federal 

legislation? (15 points)

o Consider whether the project service area is clearly defined, and whether the plan 

contains data that clearly tie the TA service needs of VSBs and SEDI-owned 

businesses to the TA services proposed. 

o Consider whether the plan is likely to prepare businesses to participate in an

economic development cluster or to participate in manufacturing, supply chain or 

contracting opportunities, including opportunities generated by recent federal 

legislation, such as the Bipartisan Infrastructure Law and the CHIPS and 

Science Act.

o Consider whether the plan has a clear approach for serving businesses applying 

for SSBCI capital programs or other identified jurisdiction programs that support 

small businesses.

 To what extent do you agree that the application’s outreach strategy and partners 

credibly address the opportunities identified? (10 points) 

o Consider whether the plan describes how its outreach strategies and/or anticipated 

partners have the ability to address the opportunities identified.

17 To the extent that a given criterion is weighted more than five points, it will be appropriately scaled. For example, 

if a criterion is worth 10 points, and the and the Merit Reviewer’s response to the relevant criterion prompt is 

“Agree,” the application will receive 8 points for that criterion. 
33

o Consider whether the plan includes a detailed strategy for reaching VSBs and 

SEDI-owned businesses in need of TA services. 

 To what extent do you agree that the application effectively provides TA for 

SEDI-owned businesses and VSBs and identifies how the proposed project will 

improve outcomes from prior efforts to increase such businesses’ ability to secure 

financing and business opportunities. (10 points)

o Consider what types of new organizations will be engaged in providing TA that 

will produce improved outcomes for SEDI-owned businesses and why.

o If organizations that have previously provided TA will provide TA under the plan, 

consider how the plan addresses how they will do so differently than in the past to 

improve results for SEDI-owned businesses.

 To what extent do you agree that the application includes high-quality existing or 

proposed collaborations with project partners, which may include other 

jurisdictions, cities, or other political subdivisions, educational institutions, 

community-serving organizations, and industry stakeholders (e.g., companies, 

suppliers, and service providers)? (5 points)

o Consider formal relationships as subrecipients or TA providers, as permissible 

based on the type of entity, or informal collaborations where the applicant is 

informed by the experience of the other stakeholders. 

o Consider whether the plan includes partners that are likely to make the project 

successful and to meet the needs of the VSBs and SEDI-owned businesses in the 

project service area. 

o Consider whether the application includes a plan for engaging new partners,

and/or include information about how existing partners will be engaged in the 

project. 

o Consider whether the application includes letters of support from proposed project 

partners. 

Organizational Capacity (30 points total)

This criterion considers whether the applicant and any proposed project partners have the 

organizational capacity to succeed in connecting VSBs and SEDI-owned businesses to small 

business programs. If project partners have not yet been identified, the application should include 

a plan, process, and/or criteria for selecting partners. 

Consider the following factors to score this criterion:

 To what extent do you agree that the applicant and TA providers have the capacity 

to execute the plan presented? (20 points) 

o Consider previous experience of the applicant in overseeing compliant grant 

awards or other federal or state programs and of the TA providers in providing the 

services needed by VSBs and SEDI-owned businesses in the project service area. 
34

o Examine any data that show previous relevant successful outcomes and outreach 

efforts to reach SEDI-owned businesses. 

o Consider the depth and quality of plans for targeted outreach and project 

execution. 

o Consider whether, if the application does not specify TA providers, the 

application specifies a plan, process, and criteria for selecting TA providers that 

have the capacity to execute the plan presented.

 To what extent do you agree that the TA providers have the capacity to provide 

services in a linguistically and culturally relevant manner? (10 points) 

o Consider the specific identified needs of SEDI-owned businesses in the project’s 

service area, and examine whether the TA providers selected, or the plan to select 

them, aligns with these needs.

Budget and Timeline (25 points)

This criterion considers all budget documents, including the proposed project budget using the 

line items of Form SF-424A and the budget narrative, as well as letters of support and leveraged 

matching funds commitments from project partners. 

Consider the following factors to score this criterion:

 To what extent do you agree that the budget line items appear to be reasonable, 

allowable, and allocable to the proposed project? (5 points) 

o Consider the Program Design and Substance section of the application and 

whether the budget line items and narrative align with the costs identified in the 

proposed project. 

o Examine the project’s timeline and its alignment with the budget and proposed 

project outcomes.

 To what extent do you agree that the budget narrative appears to be feasible and 

aligns with the activities described in the Program Design and Substance section of 

the application? (10 points)

o Consider the descriptions provided in the budget narrative and whether the 

amounts are clearly valued. 

o Consider whether the outcomes listed in the application align with the values 

listed in the budget narrative. 

 To what extent do you agree that the application is supported by leveraged public or 

private matching fund commitments that will contribute to successful outcomes and 

project long-term sustainability? (10 points) 

o Consider the Program Design and Substance section of the application as well as 

any supporting documentation included to show commitment of matching funds 

to support the project. 
35

o Consider whether leveraged matching funds are tied to the needs of eligible 

beneficiaries and is likely to contribute to the proposed project’s success. 

Project Reach (10 points)

This criterion considers the defined project service area and identified project partners. 

Consider the following to score this criterion:

 To what extent do you agree that the proposed project will result in a regional 

economic benefit beyond the reach of the applicant’s standard jurisdiction?

(10 points)

o Consider whether the applicant proposes a clear plan to collaborate with other 

jurisdictions18 to develop a regional footprint and provide TA services across 

jurisdictional lines that is most aligned with beneficiary need. There are four 

permissible approaches for demonstrating regional collaboration, as described in 

Section C.1 above.19

o Consider whether the application contemplates a subaward to another jurisdiction 

and/or includes letters of partnership support that detail the specific roles and 

responsibilities of engaged project partners. 

2. Review and Selection Process

Throughout the review and selection process, Treasury reserves the right to seek clarification 

from applicants whose applications are being reviewed. Treasury may ask applicants to clarify 

application materials, objectives, and scope of work, or modify budgets or other specifics 

necessary to comply with federal requirements and the amount of available funding.

a. Review for Eligibility and Completeness 

Treasury will initially conduct an eligibility and technical completeness review of all 

applications received by the application submission deadline. Applications received from 

ineligible entities will not be considered further. Applications that do not contain all forms and 

required documentation may be deemed non-responsive and excluded from further 

consideration. Treasury expects all applicants to complete and include all required forms and 

documentation. However, Treasury, in its sole discretion, may determine that an omission is a 

technical deficiency if it can easily and quickly be rectified and therefore may continue its 

18 While applicants may propose collaborations of three or more jurisdictions, this criterion will be evaluated based 

on the strength of the proposed regional approach rather than solely based on the number of jurisdictions; a 

two-jurisdiction collaboration may receive full points if it is sufficiently strong under this criterion. 19 Note that if this is a multiple application state/territory/D.C. partnership where no subawards are proposed, 

additional points for regional collaboration will only be awarded if multiple coordinating jurisdictions are strong 

enough to be recommended for funding in accordance with the Senior Leadership Review described in Section 

E.2.c. If only one of the collaborating jurisdictions is slated to be recommended for funding, then no regional 

collaboration points will be awarded to any of the applicants and each application will be scored on its own merits.
36

consideration of the application despite the deficiency, pending submission by the applicant of 

any missing materials or information. 

b. Merit Review

Merit reviewers will evaluate applications against the evaluation criteria in Section E.1 of this 

NOFO. Each application will be reviewed by at least three merit reviewers. Merit reviewers may 

include but are not limited to Treasury personnel and other federal and non-federal subject matter 

experts. Treasury, in its sole discretion, may use a statistical technique to normalize, aggregate, 

and group merit reviewers’ quantitative evaluations (i.e., scores). 

c. Senior Leadership Review

The most highly ranked applications under this NOFO will be forwarded to senior-ranking 

federal employees, who will evaluate the application from merit review. During this process all 

advancing applications are evaluated based on merit review feedback, administrative compliance 

review, past performance, project scope, and budget. Senior leadership may also determine not to 

recommend a high-ranking application based on the results of the risk review described in 2 CFR 

§ 200.206(b), including performance under other federal awards. 

Senior leadership will also review the list of potential grant recipients to determine whether the 

pool of recipients collectively meets the following objectives:

i. Whether potential recipients’ proposed project service areas represent broad 

geographic coverage throughout the United States, including a diversity of service 

area types (urban, rural, territory, and Tribal service areas); and

ii. Whether potential recipients represent a range of sizes (by jurisdiction population)

and poverty rates.

If Treasury determines that the pool of highest ranked applicants does not sufficiently reflect the 

above objectives, senior leadership will skip one or more of the lowest ranked applications in the 

pool of potential grant recipients and replace them with the next highest scoring application(s). 

Treasury will repeat this process until the potential selection pool is appropriately balanced in 

reflecting the above objectives. If appropriate to accomplish the objectives listed, Treasury may 

also modify award amounts or determine initially to award only a portion of the total available 

amount of funding available under the SSBCI Investing in America SBOP and to make 

additional funding available under a separate application round at a later date.

Senior leadership will submit recommendations for funding to the Chief Program Officer.

d. Chief Program Officer’s selection 

Treasury anticipates that all final award decisions will be made by the Chief Program Officer of 

Treasury’s Office of Recovery Programs or her delegate, as applicable.
37

3. Due Diligence

If an application is preliminarily identified to receive grant funding under this NOFO, the 

applicant still may be required to complete certain due diligence requirements. Treasury may 

request that the applicant submit additional documents and information to allow Treasury to fully 

evaluate compliance with applicable rules and regulations. If the applicant provides the requested 

information and supporting documentation in a timely fashion and Treasury determines that the 

applicant and the applicant’s proposal are fully compliant with applicable rules, regulations, and 

program requirements, including under Title VI of the Civil Rights Act of 1964 (see also 

Section E.4 below), its application may be considered for a final decision and award approval. 

Applicants that do not provide the additional information and supporting documentation in a 

timely fashion or that are deemed to be not in compliance with applicable rules, regulations, and 

program requirements will receive notification that their application was not successful.

4. Title VI of the Civil Rights Act Pre-Award Compliance Review

Title VI of the Civil Rights Act prohibits discrimination on the grounds of race, color, or national 

origin in programs or activities receiving federal financial assistance. Treasury implements the

requirements of Title VI of the Civil Rights Act through Treasury’s implementing regulations at 

31 CFR Part 22. Treasury conducts investigations of civil rights complaints filed against its

recipients of financial assistance under any of its programs or activities and conducts pre- and 

post-award compliance reviews. Treasury financial assistance may be suspended, terminated, or 

refused in accordance with 31 CFR Part 22 for applicants who are not in compliance with Title 

VI of the Civil Rights Act. 

Any state, the District of Columbia, or territory that is recommended for funding under this 

NOFO will be required to undergo a Title VI of the Civil Rights Act pre-award compliance 

review before being funded and be required to complete a Title VI Narrative form that will be 

separately provided by Treasury. To expedite this pre-award review, applicants may, but are not 

required to submit a Title VI Narrative form with the SSBCI Investing in America SBOP

application, which will be posted on Treasury’s website. If any item listed in the Title VI 

Narrative form is not relevant to the project for which federal financial assistance is requested, 

the item should be marked as “not applicable.” Applicants may refer to Treasury’s LEP 

Guidance when preparing their plan for providing language assistance to persons with limited 

English proficiency.

In lieu of a Title VI Narrative form, applicants may submit a Title VI compliance form recently 

prepared and submitted (within one calendar year) to another federal agency to expedite this 

pre-award compliance review. If any information required by Treasury in the Title VI Narrative 

form is not included in the other agency’s Title VI compliance form, the missing information 

must be submitted with the application on the Title VI Narrative form to expedite the pre-award 

compliance review. 

More information about the requirements of the Title VI of the Civil Rights Act is available 

through Treasury’s Office of Civil Rights and Equal Employment Opportunity.
38

5. Awards in Excess of the Simplified Acquisition Threshold

Before making a federal award with a total amount of federal share greater than the simplified 

acquisition threshold (currently $250,000 but periodically adjusted), Treasury is required to 

review and consider any information about the applicant that is in the designated integrity and 

performance system accessible through SAM (formerly FAPIIS). See 41 U.S.C. § 2313.

Each applicant, at its option, may review information in the designated integrity and performance 

systems available through SAM.gov and comment on any information about itself that a federal 

awarding agency previously entered and is currently in the designated integrity and performance 

system accessible through SAM.gov. Treasury will consider any comments by the applicant, in 

addition to the other information in the designated integrity and performance system, in making a 

determination about the applicant’s integrity, business ethics, and record of performance under 

federal awards when completing the review of risk posed by applicants as described in 2 CFR 

§ 200.206.

F. FEDERAL AWARD ADMINISTRATION INFORMATION 

1. Federal Award Notices

It is anticipated that awards will be announced in or after summer 2024. Award notification will 

be sent electronically via email. Any public announcements on awarded applicants will be posted 

on Treasury’s website.

All award decisions are final and not subject to appeal.

If an application is selected for funding, Treasury will issue a grant agreement for the applicant’s 

signature, which is the notice of award document that includes the award terms and conditions

and special award conditions applicable to the award. Treasury intends to publish a standard 

template of the TA grant agreement on its website, but will provide each selected applicant’s 

specific and tailored award letter and grant agreement to the applicant’s Authorized 

Representative, such as through Treasury’s Portal. In accordance with 2 CFR § 200.208, 

Treasury may impose specific award conditions on a recipient’s award, including as a result of a 

pre-award risk assessment. 

By executing the grant agreement within the specified time indicated in the notice of award, the 

applicant agrees to comply with all award terms and conditions. The applicant’s Authorized 

Representative must review and accept the award agreement without modification within the 

specified timeframe indicated in the notice of award. If the applicant fails to execute and return 

the grant agreement within this timeframe, Treasury may irrevocably withdraw the grant without 

any additional notification to the applicant.

If an applicant is awarded funding, Treasury is not under any obligation to provide any additional 

future funding in connection with the award or to make any future awards. Amendment or 

renewal of an award to increase the grant funding or to extend the period of performance is at the 

discretion of Treasury. 
39

Treasury will provide written notice to all applicants informing them whether their application 

was selected for funding. Treasury will retain unsuccessful applications in accordance with the

applicable record retention schedule.

2. Administrative and National Policy Requirements

SSBCI Investing in America SBOP recipients will be required to comply with the requirements 

of this NOFO, the SSBCI statute, as amended (codified at 12 U.S.C. § 5701 et seq.,), and other 

relevant guidance, including frequently asked questions (FAQs) that Treasury may publish from 

time to time. Treasury anticipates publishing a separate SSBCI Investing in America SBOP

Guidelines document that incorporates relevant provisions of this NOFO along with certain other 

relevant SSBCI guidance and that will be available on Treasury’s website at 

https://home.treasury.gov/policy-issues/small-business-programs/state-small-business-creditinitiative-ssbci. 

Because awards under this program are considered federal financial assistance, eligible recipients 

must also comply with the Uniform Administrative Requirements, Cost Principles, and Audit 

Requirements for Federal Awards (Uniform Guidance), 2 CFR Part 200, unless otherwise 

specified in the Assistance Listing, this NOFO, or other relevant guidance.

3. Reporting

a. Financial, Performance, and Impact Reports

If awarded, Treasury anticipates that recipients will be required to submit progress performance 

reports annually and financial reports via Form SF-425 semi-annually, in accordance with 2 CFR 

§§ 200.328 and 200.329 and the terms and conditions of the grant. For progress performance 

reporting, recipients will be required to track and submit data on Treasury-specific data elements. 

Treasury anticipates publishing reporting guidance for the SSBCI Investing in America SBOP

that is anticipated to be generally consistent with the reporting guidance for the formula-based 

TA Grant Program, which may be found on Treasury’s website at SSBCI-Technical-AssistanceReporting-Guidance.pdf (treasury.gov), with potential new or modified data elements specific to 

this program. Treasury will clearly specify all reporting requirements specific to the SSBCI 

Investing in America SBOP. All reports must be submitted in electronic format as specified in 

the terms and conditions of the award. Failure by a recipient to submit required reports to 

Treasury may be deemed a violation of program requirements and may be subject to remedies in 

accordance with the grant agreement.

As part of its administration of this program, Treasury may conduct program evaluations. If so, 

Treasury may share performance data with evaluators, including but not limited to Treasury staff 

and outside parties contracted by Treasury. Treasury may also, for research purposes linked to 

improving outcomes, choose to share data with other federal partners, including but not limited 

to statistical agencies. For reporting or external data sharing, Treasury will, subject to applicable 

laws and regulations, withhold information that appears to be personally identifiable information 

(PII) and other sensitive information such as sensitive commercial or financial information 

associated with an individual person or business.
40

Treasury anticipates that it will separately publish guidance setting out the reporting 

requirements for this program. 

b. Federal Funding Accountability and Transparency Act of 2006 Reporting

The Federal Funding Accountability and Transparency Act of 2006 includes a requirement for 

recipients of applicable federal grants to report information about first-tier subawards and 

executive compensation under federal assistance awards issued in FY 2011 or later. All such 

recipients are required to report in the Federal Subaward Reporting System (FSRS) available at 

www.FSRS.gov on all subawards they make that are $30,000 or more. Please see 2 CFR 

Part 170, Appendix A- Award Term. Note that the award term that requires such reporting at 

2 CFR Part 170, Appendix A will be incorporated by reference into the SSBCI Investing in 

America SBOP grant agreement.

c. Requirements for Recipients with more than $10 million in Federal-wide 

Funding

As required by 2 CFR Part 200, Appendix XII, regarding Reporting of Matters Related to 

Recipient Integrity and Performance, a recipient with more than $10 million in federal-wide 

funding must maintain the currency of information reported to SAM.gov that is made available 

in the designated integrity and performance system (formerly FAPIIS) about civil, criminal, or 

administrative proceedings.

4. Conflict of Interest

If awarded, recipients and their subrecipients must maintain a conflict-of-interest policy 

consistent with 2 CFR § 200.318(c) that is applicable to all activities funded under the SSBCI 

Investing in America SBOP award. In accordance with 2 CFR§ 200.112, recipients and 

subrecipients must disclose in writing to Treasury (or the pass-through entity, in the case of a 

subrecipient) any potential conflict of interest affecting the awarded funds.

Recipients and subrecipients’ conflict-of-interest policy must include safeguards to prohibit 

employees from using their positions for a purpose that constitutes or presents the appearance of 

a personal or organizational conflict of interest or personal gain in the administration of an

SSBCI Investing in America SBOP award.

A conflict of interest generally exists when an interested party participates in a matter that has a 

direct and predictable effect on the interested party’s personal, organizational, or financial 

interests. A financial interest may include employment, stock ownership, a creditor or debtor 

relationship, or prospective employment with the entity selected, or to be selected, for a 

subaward or to be a TA provider. A conflict of interest also may exist where there is an 

appearance that an interested party’s objectivity in performing his or her responsibilities under 

the project is impaired (i.e., an appearance of a conflict). An appearance of a conflict may result 

from an organizational conflict where, because of activities or relationships with other persons or 

entities, an interested party may appear to be biased in rendering assistance, services, or advice to 

a participant in the project or beneficiary of award funds. Interested parties should avoid any 
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action that might result in, or create the appearance of, using an official position for private gain; 

giving special treatment to any person; losing complete independence or objectivity; making an 

official decision outside official channels; or affecting negatively the confidence of the public in 

the integrity of the recipient or subrecipient, the U.S. government, or the SSBCI program. 

Additionally, a conflict of interest may result from actual or apparent non-financial gain to an 

interested party, such as a benefit to reputation or prestige in a professional field or market. 

For purposes of grants made under this NOFO, an interested party includes, but is not necessarily 

limited to, any officer, employee, or director of a recipient, subrecipient, or contractor, including 

any other parties that advise on, approve, recommend, or otherwise participate in the business 

decisions of the recipient, subrecipient, or contractor, such as agents, advisors, consultants, 

attorneys, accountants, or shareholders. This also includes immediate family and other persons 

directly connected to the interested party by law or through a business arrangement. An 

interested party also includes anyone who meets the definition of “SSBCI insider” in 

Section VIII.f of the SSBCI Capital Program Guidelines.

G. FEDERAL AWARDING AGENCY CONTACT

For questions concerning this NOFO, you may contact Treasury at 

ssbci_information@treasury.gov (please reference “SSBCI Investing in America SBOP” in the 

email subject line). Please note that because this is a competitive NOFO, Treasury may only 

provide advice of a technical nature. Questions related to the strategic aspects of project creation 

cannot be answered during the application stage, out of fairness to all applicants. Treasury 

anticipates addressing common questions via publication of FAQs on Treasury’s website at State 

Small Business Credit Initiative (SSBCI) | U.S. Department of the Treasury.