State Small Business 

Credit Initiative 

 ̃° ̨ ̋ ̇ˆˇ ̆ ̆ ̋ ̇

 ̆ ̇
State Small Business Credit Initiative 

Program Overview 

Reauthorized and expanded by President Biden’s American Rescue Plan, the State Small Business Credit 

Initiative (SSBCI) is a nearly $10 billion program to support small businesses and entrepreneurship in 

communities across the United States by providing capital and technical assistance to promote small business 

stability, growth, and success. SSBCI will provide funding to states, the District of Columbia, territories, and 

Tribal governments (collectively, participating jurisdictions) for programs that catalyze lending and investing in 

small businesses, build ecosystems of opportunity and entrepreneurship, and create high-quality jobs. 

SSBCI is designed to catalyze private capital in the form of loans to and investments in small businesses, 

especially in historically underserved communities and among entrepreneurs who may have otherwise lacked 

the support needed to pursue their business ambitions. SSBCI support can be transformative in a range of 

industries, including small manufacturing, supply chain, and other sectors promoting key national priorities. 

Businesses, lenders, and investors can learn more about how to participate in these programs by referencing 

their jurisdiction’s programs at http://www.treasury.gov/ssbci/programs. 

Program Design 

SSBCI includes two programs: the Capital Program and the Technical Assistance (TA) Grant Program. Under the 

Capital Program, participating jurisdictions implement credit and equity/venture capital programs to provide 

capital to small businesses. Under the TA Grant Program, Treasury supports programs that provide legal, 

accounting, or financial advisory services to qualifying small businesses. 

Jurisdictions designed their SSBCI Capital Programs to support some combination of the credit and/or equity/ 

venture capital programs below. 

• Capital Access Programs provide portfolio insurance in the form of a loan loss reserve fund into which the 

lender and borrower contribute. 

• Collateral Support Programs provide cash collateral to improve small business’ ability to borrow funds to 

grow a business. 

• Loan Guarantee Programs support private loans that may have otherwise been inaccessible or prohibitively 

expensive by agreeing to reduce the lender’s exposure on a loan. 

• Loan Participation Programs provide credit support through the purchase of a portion of a loan made by a 

lender or through a direct loan alongside a private lender. 

• Equity/Venture Capital Programs provide capital in the form of equity investments to underserved startups 

and investors. 

U.S. DEPARTMENT OF THE TREASURY 

STATE SMALL BUSINESS CREDIT INITIATIVE 

1 
Implementation Status 

SSBCI Capital Program 

States, the District of Columbia, and territories have proposed over 130 credit support programs and over 

70 equity/venture capital programs. As of June 2023, Treasury has approved applications for capital programs 

representing over $8 billion in potential funding. Treasury received applications corresponding to over 280 

Tribal governments and over $580 million in funding. This represents the largest and most expansive one-time 

federal investment in Tribal governments for small business financing. 

SSBCI Technical Assistance Program 

In addition, Treasury allocated $200 million by formula to states, the District of Columbia, territories, and 

Tribal governments for the TA Grant Program. Fify-one of 56 jurisdictions (states, territories, and D.C.) applied 

and proposed programs ranging from $450,000 to $25 million; Tribal government applications are due in July 

2023. Treasury also transferred $100 million to the Minority Business Development Agency (MBDA) to support 

the Capital Readiness grant program, which targets incubators and accelerators that provide services to 

underserved businesses. 

SSBCI Capital Program Spotlight 

Jurisdictions develop credit support and investment programs that align with their local economic 

development challenges and goals. These examples demonstrate how jurisdictions use SSBCI to meet the 

unique financing needs of small businesses in their target markets. 

2 U.S. DEPARTMENT OF THE TREASURY 

Advancing the Competitiveness of Manufacturers in Minnesota: Minnesota’s Department of 

Employment and Economic Development (DEED) is implementing an Automation Loan Participation 

Program (ALPP) through SSBCI. The program ofers a companion loan to private financing provided by a 

lender to purchase machinery, equipment, and sofware designed to increase manufacturing eficiencies. 

The program complements an existing state program that funds training for workers to operate new 

automation equipment. Minnesota expects the ALPP to increase the number of re-shored manufacturing 

operations and allow companies to move some outsourced activities in-house. 

Engaging Underserved Business Owners in Utah: Utah’s Governor’s Ofice of Economic Opportunity 

(“Go Utah”) developed SSBCI programs focused on filling capital needs for small businesses that are 

historically underserved. Utah operates several credit support programs including a Capital Access 

Program that is anticipated to provide micro-loans to underserved small businesses that may have 

a limited credit history or face collateral shortfalls, while the Loan Participation Program partners 

with community development financial institutions to provide slightly larger loans to support small 

businesses that may not be fully integrated into the conventional market. 

Reaching Rural Businesses in Montana: The Montana Department of Commerce operates a loan 

participation program through the Business MT Division with a goal of enabling businesses statewide to 

access the programs. The Business MT Division developed a network of lenders across the state including 

Community Development Financial Institutions and local revolving loan funds. 

STATE SMALL BUSINESS CREDIT INITIATIVE 
 

Growing the Innovation Ecosystem in Rural Vermont: Vermont is implementing a venture capital 

program to invest in start-ups across the state, with a focus on growing the innovation ecosystem outside 

Vermont’s more populous hubs. Areas of concentration include renewable energy, innovative agriculture 

solutions, advanced manufacturing, and healthcare companies. 

Enabling Diverse Venture Capital Managers in Pennsylvania: In October 2022, Pennsylvania 

announced their first commitment of SSBCI funds on behalf of their venture capital program.  The 

program is focused on supporting venture capital funds led by diverse individuals who, in turn, target 

underserved entrepreneurs. The initial $4.5 million was awarded to two funds.  

SSBCI Transaction Spotlights 

Supporting non-profits in California: Farming Hope, a non-profit that provides 

culinary job training to formerly incarcerated and unhoused individuals in San 

Francisco, received a $50,000 bridge loan from REDF, a California-based CDFI. The 

California Small Business Guarantee Program operated by the California IBank 

provided an 80 percent guarantee to enable the transaction. 

Providing working capital for manufacturers in Michigan: Global Retool Group 

America is a manufacturer of automation equipment and assembly lines for use 

by a variety of industries, located in Brighton, Michigan. The company retools, 

retrofits, and overhauls of machinery worldwide.  Citizens Bank provided the 

company its first working capital line of credit, a $7 million facility enabled by the 

Michigan Strategic Fund’s collateral support program. 

Expanding access to equity financing in Kansas: WorkTorch is a Wichitabased, service industry career platform founded by sisters Deborah Gladney and 

Angela Muhwezi-Hall. Network Kansas and the Kansas Department of Commerce, 

through the GROWKS Loan Fund and Equity Programs invested SSBCI funds 

in WorkTorch alongside $2.2 million in private financing. 

Enabling green innovation in Massachusetts: Aeroshield, a womanled company, is manufacturing advanced materials in Hyde Park for more energyeficient windows.  MassVentures invested SSBCI funds to the company to expand 

its manufacturing capabilities, grow its team, and accelerate product development 

& partnerships to bring the first AeroShield-insulated window products to 

market. SSBCI funds were part of an overall $4M round. 

Helping rural communities thrive in New Hampshire: Montshire Farms, a 5th 

generation New Hampshire farm purchased a meat processing facility with the 

help of a $2.6 million loan from a community bank supported by New Hampshire’s 

loan participation program. The loan not only provided much-needed capital 

for Montshire Farms to purchase the facility and expand operations but was 

instrumental in keeping the local farming community healthy and thriving by 

providing a local option for meat processing. 

U.S. DEPARTMENT OF THE TREASURY 

STATE SMALL BUSINESS CREDIT INITIATIVE 

3 
Appendix A: State and Territory SSBCI Capital Programs 

Applicant 

Name 

Implementing 

Entity Name 

Name of Program 

Overview 

Program Type Administering 

Entities 

Amount 

Requested 

Contact 

Alabama* Alabama Department of 

Finance 

TBD Equity Capital 

Program (Funds) 

Alabama Innovation 

Corporation 

jordan.howard@ 

fnance.alabama.gov 

Alabama* Alabama Department of 

Finance 

TBD Equity Capital 

Program (Funds) 

Alabama Innovation 

Corporation 

jordan.howard@ 

fnance.alabama.gov 

Alaska State of Alaska, University 

of Alaska Small Business 

Development Center 

Alaska Equity Program Equity Capital 

Program (Funds) 

State of Alaska, University 

of Alaska Small Business 

Development Center 

(Implementing) 

$10,000,000 erin.baca@aksbdc.org 

Alaska State of Alaska, University 

of Alaska Small Business 

Development Center 

Alaska Loan Participation 

Program 

Loan Participation 

Program 

State of Alaska, University 

of Alaska Small Business 

Development Center 

(Implementing) 

$15,905,891 jim.harty@aksbdc.org 

Alaska State of Alaska, University 

of Alaska Small Business 

Development Center 

Alaska Loan Guarantee 

Program 

Loan Guarantee 

Program 

State of Alaska, University 

of Alaska Small Business 

Development Center 

(Implementing) 

$32,000,000 jim.harty@aksbdc.org 

Alaska State of Alaska, University 

of Alaska Small Business 

Development Center 

Alaska Collateral Fund 

Program 

Collateral Support 

Program 

State of Alaska, University 

of Alaska Small Business 

Development Center 

(Implementing) 

$2,000,000 jim.harty@aksbdc.org 

Arizona Arizona Commerce 

Authority 

Arizona Loan Guarantee 

Program 

Loan Guarantee 

Program 

Arizona Commerce Authority 

(Implementing) 

$24,031,354 AZSSBCI@ 

azcommerce.com 

Arizona Arizona Commerce 

Authority 

Arizona Multi-Fund 

Venture Program 

Equity Capital 

Program (Funds) 

Arizona Venture 

Development Corporation 

(Contracted) 

$50,000,000 AZSSBCI@ 

azcommerce.com 

Arizona Arizona Commerce 

Authority 

Arizona Venture Co-Invest 

Program 

Equity Capital 

Program (Direct) 

Arizona Venture 

Development Corporation 

(Contracted) 

$37,000,000 AZSSBCI@ 

azcommerce.com 

Arkansas Arkansas Development 

Finance Authority 

ADFA Bond Guaranty/ 

CDFI Loan Participation 

Program 

Loan Participation 

Program 

Arkansas Development 

Finance Authority 

(Implementing) 

$7,500,000 Charles.Cathey@ 

arkansas.gov 

Arkansas Arkansas Development 

Finance Authority 

Arkansas Capital Access 

Program 

CAP Arkansas Development 

Finance Authority 

(Implementing) 

$621,691 Charles.Cathey@ 

arkansas.gov 

Arkansas Arkansas Development 

Finance Authority 

Arkansas Venture 

Development Fund 

Equity Capital 

Program (Funds) 

Arkansas Development 

Finance Authority 

(Implementing) 

$20,000,000 Charles.Cathey@ 

arkansas.gov 

Arkansas Arkansas Development 

Finance Authority 

Arkansas Venture Capital 

Development Fund 

Equity Capital 

Program (Direct) 

Arkansas Development 

Finance Authority 

(Implementing) 

$26,000,000 Charles.Cathey@ 

arkansas.gov 

Arkansas Arkansas Development 

Finance Authority 

ADFA Bond Guaranty/ 

Loan Participation 

Program 

Loan Participation 

Program 

Arkansas Development 

Finance Authority 

(Implementing) 

$7,500,000 Charles.Cathey@ 

arkansas.gov 

Arkansas Arkansas Development 

Finance Authority 

ADFA DBE MWOBE - Loan 

Mobilization Revolving 

Fund 

Loan Guarantee 

Program 

Arkansas Development 

Finance Authority 

(Implementing) 

$15,000,000 Charles.Cathey@ 

arkansas.gov 

Arkansas Arkansas Development 

Finance Authority 

ADFA Small Business 

Revolving Loan Guaranty 

Program 

Loan Guarantee 

Program 

Arkansas Development 

Finance Authority 

(Implementing) 

$5,000,000 Charles.Cathey@ 

arkansas.gov 

4 U.S. DEPARTMENT OF THE TREASURY 

STATE SMALL BUSINESS CREDIT INITIATIVE 
Applicant 

Name 

Implementing 

Entity Name 

Name of Program 

Overview 

Program Type Administering 

Entities 

Amount 

Requested 

Contact 

California California Infrastructure and 

Economic Development 

Bank 

Collateral Support Program (CSP) Collateral Support 

Program 

California Pollution Control 

Financing Authority (Contracted) 

$472,799,045 CalCAP@ 

Treasurer.ca.gov 

California California Infrastructure and 

Economic Development 

Bank 

Small Business Loan 

Guarantee Program 

(SBLGP) 

Loan Guarantee 

Program 

California Infrastructure 

and Economic Development 

Bank (Implementing) 

$390,998,806 SSBCI@IBank.ca.gov 

California California Infrastructure 

and Economic 

Development Bank 

Inclusive California 

Initiative 

Other California Infrastructure 

and Economic Development 

Bank (Implementing) 

$100,000,000 SSBCI@IBank.ca.gov 

California California Infrastructure 

and Economic 

Development Bank 

Emerging California 

Initiative 

Other California Infrastructure 

and Economic Development 

Bank (Implementing) 

$50,000,000 SSBCI@IBank.ca.gov 

California California Infrastructure 

and Economic 

Development Bank 

California Co-investment 

Initiative 

Other California Infrastructure 

and Economic Development 

Bank (Implementing) 

$50,000,000 SSBCI@IBank.ca.gov 

California California Infrastructure 

and Economic 

Development Bank 

California Capital Access 

Program (CalCAP) 

CAP California Pollution Control 

Financing Authority 

(Contracted) 

$118,199,762 CalCAP@ 

Treasurer.ca.gov 

Colorado Colorado Economic 

Development Commission 

(CEDC) within the Offce 

of Economic Development 

and International Trade 

Cash Collateral Support Collateral Support 

Program 

Colorado Housing 

and Finance Authority 

(Contracted) 

$35,000,000 sboice@chfainfo.com 

Colorado Colorado Economic 

Development Commission 

(CEDC) within the Offce 

of Economic Development 

and International Trade 

Colorado Venture Capital 

Authority 

Equity Capital 

Program (Funds) 

Colorado Venture Capital 

Authority (Contracted) 

$59,773,554 sonya.guram@ 

state.co.us 

Colorado Colorado Economic 

Development Commission 

(CEDC) within the Offce 

of Economic Development 

and International Trade 

CLIMBER Loan Fund Loan Participation 

Program 

Colorado Housing 

and Finance Authority 

(Contracted) 

$10,000,000 sboice@chfainfo.com 

Connecticut State of Connecticut, 

Department of Economic 

and Community 

Development 

CT Innovations Equity 

Fund 

Equity Capital 

Program (Direct) 

Connecticut Innovations, 

Inc. (Contracted) 

$89,414,934 pauline.murphy@ 

ctinnovations.com 

Connecticut State of Connecticut, 

Department of Economic 

and Community 

Development 

CT Venture Debt Fund Other Connecticut Innovations, 

Inc. (Contracted) 

$30,000,000 pauline.murphy@ 

ctinnovations.com 

Delaware Delaware Division of Small 

Business (DSB) 

Delaware Capital Access 

Program 

CAP Delaware Division of 

Small Business (DSB) 

(Implementing) 

$3,500,000 regina.mitchell@ 

delaware.gov 

Delaware Delaware Division of Small 

Business (DSB) 

Delaware Strategic Fund 

(DSF) Loan Participation 

Program 

Loan Participation 

Program 

Delaware Division of 

Small Business (DSB) 

(Implementing) 

$27,473,103 regina.mitchell@ 

delaware.gov 

Delaware Delaware Division of Small 

Business (DSB) 

Delaware Early Stage VC 

Program 

Equity Capital 

Program (Funds) 

Delaware Division of 

Small Business (DSB) 

(Implementing) 

$22,500,000 regina.mitchell@ 

delaware.gov 

Delaware Delaware Division of Small 

Business (DSB) 

Delaware Accelerator and 

Seed Capital Program 

Equity Capital 

Program (Direct) 

Delaware Division of 

Small Business (DSB) 

(Implementing) 

$7,500,000 regina.mitchell@ 

delaware.gov 

U.S. DEPARTMENT OF THE TREASURY 

STATE SMALL BUSINESS CREDIT INITIATIVE 

5 
Applicant 

Name 

Implementing 

Entity Name 

Name of Program 

Overview 

Program Type Administering 

Entities 

Amount 

Requested 

Contact 

District of 

Columbia* 

Department of Insurance, 

Securities and Banking 

(DISB) 

Collateral Support 

Program 

Collateral Support 

Program 

Department of Insurance, 

Securities and Banking 

(Implementing) 

$15,046,000 Aaron.fenwick@ 

dc.gov 

District of 

Columbia* 

Department of Insurance, 

Securities and Banking 

(DISB) 

Loan Participation 

Program 

Loan Participation 

Program 

Department of Insurance, 

Securities and Banking 

(Implementing) 

$20,935,062 Aaron.fenwick@ 

dc.gov 

District of 

Columbia* 

Department of Insurance, 

Securities and Banking 

(DISB) 

DC Venture Capital 

Program 

Equity Capital 

Program (Funds) 

Offce of the Deputy Mayor 

for Planning and Economic 

Development (DMPED) 

(Contracted) 

$26,046,000 bizdev@dc.gov 

Florida Florida Department of 

Economic Opportunity 

Florida Small Business 

Loan Program - Collateral 

Support Program 

Collateral Support 

Program 

Florida Department of 

Economic Opportunity 

(Implementing),Enterprise 

Florida, Inc. 

(Contracted),Florida First 

Capital Finance Corporation, 

Inc. (Contracted) 

$250,000,000 SSBCI@DEO. 

MyFlorida.com 

Florida Florida Department of 

Economic Opportunity 

Florida Venture Capital 

Program 

Equity Capital 

Program (Direct) 

Florida Department of 

Economic Opportunity 

(Implementing),Enterprise 

Florida, Inc. (Contracted) 

$100,000,000 SSBCI@DEO. 

MyFlorida.com 

Florida Florida Department of 

Economic Opportunity 

Florida Small Business 

Loan Program - Loan 

Participation Program 

Loan Participation 

Program 

Florida Department of 

Economic Opportunity 

(Implementing),Enterprise 

Florida, Inc. 

(Contracted),Florida First 

Capital Finance Corporation, 

Inc. (Contracted) 

$50,000,000 SSBCI@DEO. 

MyFlorida.com 

Florida Florida Department of 

Economic Opportunity 

Florida Small Business 

Loan Program - Loan 

Guarantee Program 

Loan Guarantee 

Program 

Florida Department of 

Economic Opportunity 

(Implementing),Enterprise 

Florida, Inc. (Contracted), 

Florida First Capital 

Finance Corporation, Inc. 

(Contracted) 

$50,000,000 SSBCI@DEO. 

MyFlorida.com 

Florida Florida Department of 

Economic Opportunity 

Florida Capital Access 

Program 

CAP Florida Department of 

Economic Opportunity 

(Implementing) 

$38,486,572 SSBCI@DEO. 

MyFlorida.com 

Georgia Georgia Department of 

Community Affairs 

Georgia Loan 

Participation Program 

Loan Participation 

Program 

Georgia Department 

of Community Affairs 

(Implementing) 

$70,000,000 SSBCI.Manager@dca. 

ga.gov 

Georgia Georgia Department of 

Community Affairs 

Georgia Small Business 

Credit Guarantee 

Program 

Loan Guarantee 

Program 

Georgia Department 

of Community Affairs 

(Implementing) 

$19,616,860 SSBCI.Manager@dca. 

ga.gov 

Georgia Georgia Department of 

Community Affairs 

Georgia Venture Capital 

Program 

Equity Capital 

Program (Funds) 

Invest Georgia (Contracted) $30,000,000 SSBCI.Manager@dca. 

ga.gov 

Georgia Georgia Department of 

Community Affairs 

Georgia Equity Direct 

Program 

Equity Capital 

Program (Direct) 

Invest Georgia (Contracted) $20,000,000 SSBCI.Manager@dca. 

ga.gov 

Georgia Georgia Department of 

Community Affairs 

Georgia CDFI Program Loan Participation 

Program 

Georgia Department 

of Community Affairs 

(Implementing) 

$60,000,000 SSBCI.Manager@dca. 

ga.gov 

Hawaii Hawaii Technology 

Development Corporation 

HI-CAP Loans Loan Participation 

Program 

Hawaii Green Infrastructure 

Authority (Contracted) 

$15,500,000 info@htdc.org 

Hawaii Hawaii Technology 

Development Corporation 

HI-CAP Collateral Collateral Support 

Program 

Hawaii Green Infrastructure 

Authority (Contracted) 

$20,521,957 info@htdc.org 

6 U.S. DEPARTMENT OF THE TREASURY 

STATE SMALL BUSINESS CREDIT INITIATIVE 
 

Applicant 

Name 

Implementing 

Entity Name 

Name of Program 

Overview 

Program Type Administering 

Entities 

Amount 

Requested 

Contact 

Hawaii Hawaii Technology Development Corporation HI-CAP Invest Equity Capital 

Program (Funds) 

Hawaii Technology 

Development Corporation 

(Implementing) 

$21,000,000 info@htdc.org 

Hawaii Hawaii Technology 

Development Corporation 

HI-CAP CDFI Loan Pool 

Program (HI-CAP CDFI) 

Loan Participation 

Program 

Hawaii Green Infrastructure 

Authority (Contracted) 

$5,000,000 info@htdc.org 

Idaho The State of Idaho 

Executive Offce of the 

Governor- Division of 

Financial Management 

Idaho Small Business 

Revolving Loan Fund 

Loan Participation 

Program 

Region IV Development 

Association, Inc. 

(Contracted),Clearwater 

Economic Development 

Association, Inc. 

(Contracted),Southeast 

Idaho Council of 

Governments, Inc. 

(Contracted),Panhandle 

Area Council, Inc. 

(Contracted),East Central 

Idaho Planning and 

Develoment Association, Inc. 

(Contracted) 

$26,000,000 david.fulkerson@ 

dfm.idaho.gov 

Idaho The State of Idaho 

Executive Offce of the 

Governor- Division of 

Financial Management 

Idaho Collateral Support 

Program 

Collateral Support 

Program 

Idaho Housing and Finance 

Association (Contracted) 

$39,677,548 coryp@ihfa.org 

Illinois Illinois Department of 

Commerce and Economic 

Opportunity (DCEO) 

Advantage Illinois LPP Loan Participation 

Program 

Illinois Department of 

Commerce and Economic 

Opportunity (DCEO) 

(Implementing) 

$105,000,000 CEO.Advantage. 

Illinois@illinois.gov 

Illinois Illinois Department of 

Commerce and Economic 

Opportunity (DCEO) 

Advantage Illinois LGP Loan Guarantee 

Program 

Illinois Department of 

Commerce and Economic 

Opportunity (DCEO) 

(Implementing) 

$114,813,285 CEO.Advantage. 

Illinois@illinois.gov 

Illinois Illinois Department of 

Commerce and Economic 

Opportunity (DCEO) 

Climate Bank Finance Loan Participation 

Program 

Illinois Finance Authority 

(Contracted) 

$20,000,000 SSBCI@il-fa.com 

Illinois Illinois Department of 

Commerce and Economic 

Opportunity (DCEO) 

IN-VENT Equity Capital 

Program (Direct) 

Illinois Department of 

Commerce and Economic 

Opportunity (DCEO) 

(Implementing) 

$114,813,285 CEO.Invent@ 

illinois.gov 

Indiana Indiana Economic 

Development Corp (IEDC) 

Indiana Twenty-First 

Century Research and 

Technology Fund (21 

Fund) - Indiana Angel 

Network Fund (IANF) 

Equity Capital 

Program (Direct) 

Elevate Ventures Inc 

(Contracted),Indiana 

Economic Development 

Corp (IEDC) (Implementing) 

$70,351,021 plodato@ 

elevateventures.com 

Indiana Indiana Economic 

Development Corp (IEDC) 

Indiana Twenty-First 

Century Research and 

Technology Fund (21 

Fund) – Fund Investment 

Program (FIP) 

Loan Participation 

Program 

Indiana Economic 

Development Corp (IEDC) 

(Implementing) 

$28,736,704 mtuohy@iedc.in.gov 

Iowa Iowa Economic 

Development Authority 

Targeted Small Business 

Collateral Support 

Program 

Collateral Support 

Program 

Iowa Economic 

Development Authority 

(Implementing) 

$15,102,644 tsbloan@ 

iowaeda.com 

Iowa Iowa Economic 

Development Authority 

Venture Capital CoInvestment Fund Equity Capital 

Program (Direct) 

BioConnect Iowa 

(Contracted) 

$31,000,000 steve.brody@ 

bioconnectiowa.org 

U.S. DEPARTMENT OF THE TREASURY 

STATE SMALL BUSINESS CREDIT INITIATIVE 

7 
Applicant 

Name 

Implementing 

Entity Name 

Name of Program 

Overview 

Program Type Administering 

Entities 

Amount 

Requested 

Contact 

Iowa Iowa Economic 

Development Authority 

Manufacturing 4.0 Loan 

Participation Program 

Loan Participation 

Program 

Iowa Economic 

Development Authority 

(Implementing) 

$28,000,000 info@iowamfg.com 

Iowa Iowa Economic 

Development Authority 

IEDA Innovation 

Continuum 

Other Iowa Economic 

Development Authority 

(Implementing) 

$22,000,000 innovation@ 

iowaeda.com 

Kansas Kansas Department of 

Commerce 

GROWKS Loan Fund Loan Participation 

Program 

Network Kansas 

(Contracted) 

$41,758,108 Info@ 

networkkansas.com 

Kansas Kansas Department of 

Commerce 

GROWKS Angel Capital 

Support Program 

Equity Capital 

Program (Direct) 

Network Kansas 

(Contracted) 

$16,838,739 Info@ 

networkkansas.com 

Kansas Kansas Department of 

Commerce 

GROWKS Community 

Angel Support Program 

Equity Capital 

Program (Direct) 

Network Kansas 

(Contracted) 

$5,000,000 Info@ 

networkkansas.com 

Kansas Kansas Department of 

Commerce 

GROWKS Multi-Fund 

Equity Program 

Equity Capital 

Program (Funds) 

Network Kansas 

(Contracted) 

$6,000,000 Info@ 

networkkansas.com 

Kentucky Kentucky Cabinet for 

Economic Development 

Kentucky Collateral 

Support Program (KYCSP) 

Collateral Support 

Program 

Kentucky Cabinet for 

Economic Development 

(Implementing) 

$17,568,382 kylee.palmer@ky.gov 

Kentucky Kentucky Cabinet for 

Economic Development 

Kentucky Venture Capital 

Program (KYVCP) Direct 

Equity Capital 

Program (Direct) 

Kentucky Science and 

Technology Corporation 

(Contracted) 

$65,588,632 monique. 

quarterman@ky.gov 

Kentucky Kentucky Cabinet for 

Economic Development 

Kentucky Venture Capital 

Program (KYVCP) Funds 

Equity Capital 

Program (Funds) 

Kentucky Science and 

Technology Corporation 

(Contracted) 

$16,397,158 monique. 

quarterman@ky.gov 

Kentucky Kentucky Cabinet for 

Economic Development 

Kentucky Loan 

Participation Program 

(KYLPP) 

Loan Participation 

Program 

Kentucky Cabinet for 

Economic Development 

(Implementing) 

$17,568,377 kylee.palmer@ky.gov 

Louisiana Louisiana Economic 

Development (LED) 

Louisiana Collateral 

Support Program 

Collateral Support 

Program 

Louisiana Economic 

Development Corporation 

(LEDC) (Contracted) 

$11,000,000 ledssbci2@la.gov 

Louisiana Louisiana Economic 

Development (LED) 

Louisiana Small Business 

Loan Guaranty Program 

Loan Guarantee 

Program 

Louisiana Economic 

Development Corporation 

(LEDC) (Contracted) 

$1,500,000 ledssbci2@la.gov 

Louisiana Louisiana Economic 

Development (LED) 

Louisiana Micro Loan 

Program 

Loan Participation 

Program 

Louisiana Economic 

Development Corporation 

(LEDC) (Contracted) 

$9,000,000 ledssbci2@la.gov 

Louisiana Louisiana Economic 

Development (LED) 

Louisiana Seed Capital 

Program 

Equity Capital 

Program (Funds) 

Louisiana Economic 

Development Corporation 

(LEDC) (Contracted) 

$31,571,405 ledssbci2@la.gov 

Louisiana Louisiana Economic 

Development (LED) 

Louisiana Venture Capital 

Program 

Equity Capital 

Program (Funds) 

Louisiana Economic 

Development Corporation 

(LEDC) (Contracted) 

$60,000,000 ledssbci2@la.gov 

Maine Finance Authority of Maine Regional Economic 

Development Revolving 

Loan & Direct Loan 

Program 

Loan Participation 

Program 

Finance Authority of Maine 

(Implementing) 

$22,232,918 mlindquist@ 

famemaine.com 

Maine Finance Authority of Maine CDFI and MVF Equity Capital 

Program (Funds) 

Finance Authority of Maine 

(Implementing) 

$8,000,000 mlindquist@ 

famemaine.com 

Maine Finance Authority of Maine Finance Authority of 

Maine, Commercial Loan 

Insurance Program 

Loan Guarantee 

Program 

Finance Authority of Maine 

(Implementing) 

$20,000,000 mlindquist@ 

famemaine.com 

Maine Finance Authority of Maine Maine Venture Fund (MVF) Equity Capital 

Program (Direct) 

Finance Authority of Maine 

(Implementing) 

$12,000,000 mlindquist@ 

famemaine.com 

8 U.S. DEPARTMENT OF THE TREASURY 

STATE SMALL BUSINESS CREDIT INITIATIVE 
Applicant 

Name 

Implementing 

Entity Name 

Name of Program 

Overview 

Program Type Administering 

Entities 

Amount 

Requested 

Contact 

Maryland Maryland Department of 

Housing and Community 

Development 

Neighborhood Business 

Works Loan Participation 

(DHCD) 

Loan Participation 

Program 

Maryland Department 

of Housing and 

Community Development 

(Implementing) 

$86,404,958 dhcd.ssbci@ 

maryland.gov 

Maryland Maryland Department of 

Housing and Community 

Development 

MSBDFA Equity 

Participation Investment 

Program - Loan 

(Commerce) 

Loan Participation 

Program 

Maryland Department 

of Commerce 

(Contracted),Meridian 

Management Group, Inc. 

(Contracted) 

$33,000,000 mmgdeal@ 

mmgcapitalgroup. 

com 

Maryland Maryland Department of 

Housing and Community 

Development 

Venture Equity Fund 

(TEDCO) 

Equity Capital 

Program (Direct) 

Maryland TEDCO 

(Contracted) 

$13,000,000 investments@ 

tedco.md 

Maryland Maryland Department of 

Housing and Community 

Development 

Venture Capital Limited 

Partnership Equity 

(TEDCO) 

Equity Capital 

Program (Funds) 

Maryland TEDCO 

(Contracted) 

$10,000,000 investments@ 

tedco.md 

Maryland Maryland Department of 

Housing and Community 

Development 

Social Impact Funds 

(TEDCO) 

Equity Capital 

Program (Direct) 

Maryland TEDCO 

(Contracted) 

$12,000,000 investments@ 

tedco.md 

Maryland Maryland Department of 

Housing and Community 

Development 

Seeds Funds Equity 

(TEDCO) 

Equity Capital 

Program (Direct) 

Maryland TEDCO 

(Contracted) 

$15,000,000 investments@ 

tedco.md 

Maryland Maryland Department of 

Housing and Community 

Development 

MSBDFA Equity 

Participation Investment 

Program - Equity 

(Commerce) 

Equity Capital 

Program (Direct) 

Maryland Department 

of Commerce 

(Contracted),Meridian 

Management Group, Inc. 

(Contracted) 

$12,000,000 mmgdeal@ 

mmgcapitalgroup. 

com 

Maryland Maryland Department of 

Housing and Community 

Development 

Neighborhood Business 

Works Venture Debt 

(DHCD) 

Other Maryland Department 

of Housing and 

Community Development 

(Implementing) 

$17,000,000 dhcd.ssbci@ 

maryland.gov 

Massachusetts Executive Offce of 

Housing & Economic 

Development 

Massachusetts Growth 

Capital Corp. Commercial 

Lending Program 

Loan Participation 

Program 

Massachusetts Growth 

Capital Corporation 

(Contracted) 

$51,500,000 michael.spicer@state. 

ma.us 

Massachusetts Executive Offce of 

Housing & Economic 

Development 

Massachusetts Growth 

Capital Corp. Community 

Loan Fund Guarantee 

Program 

Loan Guarantee 

Program 

Massachusetts Growth 

Capital Corporation 

(Contracted) 

$25,091,178 michael.spicer@state. 

ma.us 

Massachusetts Executive Offce of 

Housing & Economic 

Development 

MassDevelopment 

Economically Distressed 

Area (EDA) Loan 

Enhancement & 

Equipment Program 

Loan Participation 

Program 

Massachusetts 

Development 

Finance Agency 

("MassDevelopment") 

(Contracted) 

$47,000,000 michael.spicer@state. 

ma.us 

Massachusetts Executive Offce of 

Housing & Economic 

Development 

MassDevelopment Loan 

Guarantee Program 

Loan Guarantee 

Program 

Massachusetts 

Development 

Finance Agency 

("MassDevelopment") 

(Contracted) 

$15,000,000 michael.spicer@state. 

ma.us 

Massachusetts Executive Offce of 

Housing & Economic 

Development 

MassVentures Deep Tech 

Diversity Venture Fund 

Equity Capital 

Program (Direct) 

MassVentures (Contracted) $30,000,000 michael.spicer@state. 

ma.us 

Michigan Michigan Strategic Fund Michigan Business 

Growth Fund - Loan 

Participation Program 

Loan Participation 

Program 

Michigan Strategic Fund 

(Implementing) 

$48,235,293 businessloans@ 

michigan.org 

U.S. DEPARTMENT OF THE TREASURY 

STATE SMALL BUSINESS CREDIT INITIATIVE 

9 
Applicant 

Name 

Implementing 

Entity Name 

Name of Program 

Overview 

Program Type Administering 

Entities 

Amount 

Requested 

Contact 

Michigan Michigan Strategic Fund Michigan Business 

Growth Fund - Capital 

Access Program 

CAP Michigan Strategic Fund 

(Implementing) 

$2,369,910 businessloans@ 

michigan.org 

Michigan Michigan Strategic Fund Michigan Business 

Growth Fund - Loan 

Guarantee Program 

Loan Guarantee 

Program 

Michigan Strategic Fund 

(Implementing) 

$40,288,462 businessloans@ 

michigan.org 

Michigan Michigan Strategic Fund Michigan Business 

Growth Fund - Collateral 

Support Program 

Collateral Support 

Program 

Michigan Strategic Fund 

(Implementing) 

$71,097,285 businessloans@ 

michigan.org 

Michigan Michigan Strategic Fund Michigan Business 

Growth Fund - Small 

Business Venture Capital 

Program 

Equity Capital 

Program (Funds) 

Michigan Strategic Fund 

(Implementing) 

$75,000,000 businessloans@ 

michigan.org 

Minnesota Minnesota Department of 

Employment and Economic Development 

Growth Loan Fund Other Minnesota Department of 

Employment and Economic 

Development (Implementing) 

$12,500,000 SSBCI.DEED@ 

state.mn.us 

Minnesota Minnesota Department 

of Employment and 

Economic Development 

Minnesota Loan 

Guarantee Program 

Loan Guarantee 

Program 

Minnesota Department 

of Employment and 

Economic Development 

(Implementing) 

$12,500,000 SSBCI.DEED@ 

state.mn.us 

Minnesota Minnesota Department 

of Employment and 

Economic Development 

Small Business Loan 

Participation Program 

Loan Participation 

Program 

Minnesota Department 

of Employment and 

Economic Development 

(Implementing) 

$25,000,000 SSBCI.DEED@ 

state.mn.us 

Minnesota Minnesota Department 

of Employment and 

Economic Development 

Automation Loan 

Participation Program 

Loan Participation 

Program 

Minnesota Department 

of Employment and 

Economic Development 

(Implementing) 

$12,500,000 SSBCI.DEED@ 

state.mn.us 

Minnesota Minnesota Department 

of Employment and 

Economic Development 

Multi-Fund VC Program Equity Capital 

Program (Funds) 

University of Minnesota 

(Contracted) 

$22,433,187 SSBCI.DEED@ 

state.mn.us 

Minnesota Minnesota Department 

of Employment and 

Economic Development 

Direct Investment VC 

Program 

Equity Capital 

Program (Direct) 

University of Minnesota 

(Contracted) 

$12,079,409 SSBCI.DEED@ 

state.mn.us 

Mississippi* Mississippi Development 

Authority 

Mississippi CDFI Small 

Business Loan Fund 

Loan Participation 

Program 

Mississippi Development 

Authority 

$45,000,000 ssbci@mississippi.org 

Mississippi* Mississippi Development 

Authority 

Mississippi Loan 

Guarantee Program 

Loan Guarantee 

Program 

Mississippi Development 

Authority 

$15,078,447 ssbci@mississippi.org 

Mississippi* Mississippi Development 

Authority 

Mississippi Direct 

Investment Program 

Equity Capital 

Program (Direct) 

Innovate Mississippi $11,000,000 ssbci@mississippi.org 

Mississippi* Mississippi Development 

Authority 

Mississippi Venture 

Capital Program 

Equity Capital 

Program (Funds) 

Innovate Mississippi $15,000,000 ssbci@mississippi.org 

Missouri Missouri Department of 

Economic Development 

IDEA Fund Co-Investment 

Program 

Equity Capital 

Program (Direct) 

Missouri Technology 

Corporation (Contracted) 

$94,855,803 grants@ded.mo.gov 

10 U.S. DEPARTMENT OF THE TREASURY 

STATE SMALL BUSINESS CREDIT INITIATIVE 
Applicant 

Name 

Implementing 

Entity Name 

Name of Program 

Overview 

Program Type Administering 

Entities 

Amount 

Requested 

Contact 

Montana Montana Department of 

Commerce 

MT SSBCI 2.0 Loan 

Participation Program 

Loan Participation 

Program 

Montana Department of 

Commerce (Implementing) 

$61,327,969 MTSSBCI@mt.gov 

Nebraska Nebraska Department of 

Economic Development 

Nebraska Growth Loan 

Fund (NGLF) 

Loan Participation 

Program 

Omaha 100, Inc. 

(Contracted),Nebraska 

Enterprise Fund 

(Contracted),Nebraska 

Department of 

Economic Development 

(Implementing) 

$32,002,859 joe.fox@nebraska.gov 

Nebraska Nebraska Department of 

Economic Development 

Nebraska Seed and 

Development Fund 

(NSDF) 

Equity Capital 

Program (Direct) 

Invest Nebraska Corporation 

(Contracted),Nebraska 

Department of 

Economic Development 

(Implementing) 

$32,002,859 joe.fox@nebraska.gov 

Nevada Nevada Governor's Offce 

of Economic Development 

State Sponsored Venture 

Capital Program 

Other Nevada Battle Born Growth 

Escalator, Inc. (NBBGEI) 

(Contracted) 

$36,000,000 kheise@goed.nv.gov 

Nevada Nevada Governor's Offce 

of Economic Development 

Collateral Support 

Program 

Collateral Support 

Program 

Nevada Battle Born Growth 

Escalator, Inc. (NBBGEI) 

(Contracted) 

$10,156,523 Mendy@ 

fynngiudiciga.com 

Nevada Nevada Governor's Offce 

of Economic Development 

Nevada Loan Participation Program – Standard 

Loans (>$250k) 

Loan Participation 

Program 

Nevada Battle Born Growth 

Escalator, Inc. (NBBGEI) 

(Contracted) 

$15,900,000 Mendy@ 

fynngiudiciga.com 

Nevada Nevada Governor's Offce 

of Economic Development 

C-PACE Loan Participation 

Program 

Nevada Battle Born Growth 

Escalator, Inc. (NBBGEI) 

(Contracted) 

$35,000,000 Mendy@ 

fynngiudiciga.com 

Nevada Nevada Governor's Offce 

of Economic Development 

Nevada Loan 

Participation Program – 

Small Loans (<$250k) 

Loan Participation 

Program 

Nevada Battle Born Growth 

Escalator, Inc. (NBBGEI) 

(Contracted) 

$15,900,000 Mendy@ 

fynngiudiciga.com 

New Hampshire New Hampshire 

Department of Business 

and Economic Affairs 

Capital Access Program CAP New Hampshire Business 

Finance Authority 

(Contracted) 

$1,500,000 info@nhbfa.com 

New Hampshire New Hampshire 

Department of Business 

and Economic Affairs 

Loan Participation 

Program – Direct Loans 

Loan Participation 

Program 

New Hampshire Business 

Finance Authority 

(Contracted) 

$10,000,000 info@nhbfa.com 

New Hampshire New Hampshire 

Department of Business 

and Economic Affairs 

Loan Participation 

Program – Aid to 

Local Development 

Organizations (ALDO) 

Loan Participation 

Program 

New Hampshire Business 

Finance Authority 

(Contracted) 

$7,000,000 info@nhbfa.com 

New Hampshire New Hampshire 

Department of Business 

and Economic Affairs 

Loan Guarantee Program Loan Guarantee 

Program 

New Hampshire Business 

Finance Authority 

(Contracted) 

$2,000,000 info@nhbfa.com 

New Hampshire New Hampshire 

Department of Business 

and Economic Affairs 

Loan Participation 

Program – Term 

Loan Participation 

Program 

New Hampshire Business 

Finance Authority 

(Contracted) 

$40,968,436 info@nhbfa.com 

New Jersey New Jersey Department of 

the Treasury 

Recovery Loan Loss 

Reserve Fund 

Loan Guarantee 

Program 

New Jersey Economic 

Development Authority 

(Contracted) 

$25,000,000 SSBCI@njeda.com 

New Jersey New Jersey Department of 

the Treasury 

Blended Capital Fund Loan Participation 

Program 

New Jersey Economic 

Development Authority 

(Contracted) 

$50,000,000 SSBCI@njeda.com 

New Jersey New Jersey Department of 

the Treasury 

SEDI Seed Fund Equity Capital 

Program (Funds) 

New Jersey Economic 

Development Authority 

(Contracted) 

$20,000,000 SSBCI@njeda.com 

U.S. DEPARTMENT OF THE TREASURY 

STATE SMALL BUSINESS CREDIT INITIATIVE 

11 
Applicant 

Name 

Implementing 

Entity Name 

Name of Program 

Overview 

Program Type Administering 

Entities 

Amount 

Requested 

Contact 

New Jersey New Jersey Department of 

the Treasury 

Life Science Fund Equity Capital 

Program (Funds) 

New Jersey Economic 

Development Authority 

(Contracted) 

$60,000,000 SSBCI@njeda.com 

New Jersey New Jersey Department of 

the Treasury 

Angel Match Program Other New Jersey Economic 

Development Authority 

(Contracted) 

$20,197,631 SSBCI@njeda.com 

New Jersey New Jersey Department of 

the Treasury 

Clean Energy Business 

Financing 

Loan Participation 

Program 

New Jersey Economic 

Development Authority 

(Contracted) 

$80,000,000 SSBCI@njeda.com 

New Mexico New Mexico Economic 

Development Department 

NM Growth Fund Equity Capital 

Program (Funds) 

New Mexico Economic 

Development Department 

(Implementing) 

$65,488,000 johanna.nelson@ 

state.nm.us 

New Mexico New Mexico Economic 

Development Department 

Collateral Assistance 

Program 

Collateral Support 

Program 

New Mexico Economic 

Development Department 

(Implementing) 

$9,000,805 johanna.nelson@ 

state.nm.us 

New York Empire State Development Contractor Financing 

Revolving Loan Fund 

Loan Guarantee 

Program 

Empire State Development 

(Implementing) 

$22,011,437 NYSCFP@esd.ny.gov 

New York Empire State Development New York Forward Loan 

Fund II 

Loan Participation 

Program 

Empire State Development 

(Implementing),Calvert 

Impact, Inc. (Contracted) 

$47,011,437 nyloanfund@ 

esd.ny.gov 

New York Empire State Development Capital Project Loan Fund Loan Participation 

Program 

Empire State Development 

(Implementing) 

$106,187,266 CPLF@esd.ny.gov 

New York Empire State Development Small Business Revolving 

Loan Fund II 

Loan Participation 

Program 

Empire State Development 

(Implementing) 

$55,583,259 SBRLF@esd.ny.gov 

New York Empire State Development Emerging and Regional 

Manager Multi-Fund 

Program 

Equity Capital 

Program (Funds) 

Empire State Development 

(Implementing) 

$154,011,436 NYSManagerFundRFA@ 

esd.ny.gov 

New York Empire State Development Pre-Seed and Seed 

Investment Matching 

Program 

Equity Capital 

Program (Direct) 

Empire State Development 

(Implementing) 

$30,011,438 NYVenturesPreSeed@ 

esd.ny.gov 

New York Empire State Development NYS Innovation Venture 

Capital Fund 

Equity Capital 

Program (Direct) 

Empire State Development 

(Implementing) 

$35,344,770 NewYork.Venture@ 

esd.ny.gov 

New York Empire State Development Capital Access Program CAP Empire State Development 

(Implementing) 

$29,414,907 nyscap@esd.ny.gov 

New York Empire State Development New York State Bonding 

Assistance Program 

Loan Guarantee 

Program 

Empire State Development 

(Implementing) 

$22,011,437 BAP@esd.ny.gov 

North Carolina North Carolina Department 

of Commerce 

NC Capital Access 

Program 

CAP Rural Economic 

Development Center, Inc. 

(Contracted) 

$10,000,000 ssbci@ 

ncruralcenter.org 

North Carolina North Carolina Department 

of Commerce 

NC Loan Participation 

Program 

Loan Participation 

Program 

Rural Economic 

Development Center, Inc. 

(Contracted) 

$160,000,000 ssbci@ 

ncruralcenter.org 

North Carolina North Carolina Department 

of Commerce 

NC Venture Capital 

Program 

Equity Capital 

Program (Funds) 

Rural Economic 

Development Center, Inc. 

(Contracted) 

$31,897,680 ssbci@ 

ncruralcenter.org 

North Dakota North Dakota Department 

of Commerce 

Angel Match Program 

North Dakota 

Equity Capital 

Program (Direct) 

North Dakota Development 

Fund (Contracted) 

$13,641,843 sakason@nd.gov 

North Dakota North Dakota Department 

of Commerce 

Direct Investment 

Program 

Equity Capital 

Program (Direct) 

O’Leary Ventures 

(Contracted) 

$45,000,000 sakason@nd.gov 

12 U.S. DEPARTMENT OF THE TREASURY 

STATE SMALL BUSINESS CREDIT INITIATIVE 
Applicant 

Name 

Implementing 

Entity Name 

Name of Program 

Overview 

Program Type Administering 

Entities 

Amount 

Requested 

Contact 

Ohio Ohio Department of 

Development 

Ohio Venture Fund Other Ohio Department 

of Development 

(Implementing) 

$75,000,000 ssbci@ 

development.ohio.gov 

Ohio Ohio Department of 

Development 

Ohio Early Stage Focus 

Fund 

Other Ohio Department 

of Development 

(Implementing) 

$36,718,475 ssbci@ 

development.ohio.gov 

Ohio Ohio Department of 

Development 

CDFI Loan Participation 

Program 

Loan Participation 

Program 

Ohio Department 

of Development 

(Implementing) 

$45,718,475 ssbci@ 

development.ohio.gov 

Ohio Ohio Department of 

Development 

Collateral Enhancement 

Program 

Collateral Support 

Program 

Ohio Department 

of Development 

(Implementing) 

$24,910,942 ssbci@ 

development.ohio.gov 

Oklahoma Oklahoma Center for the 

Advancement of Science 

and Technology (OCAST) 

Oklahoma Venture Capital 

Investments 

Equity Capital 

Program (Funds) 

Oklahoma Center for the 

Advancement of Science 

and Technology (OCAST) 

(Implementing) 

$48,906,317 SSBCI-RFP@ 

ocast.ok.gov 

Oklahoma Oklahoma Center for the 

Advancement of Science 

and Technology (OCAST) 

Oklahoma Business 

Lending Partnerships 

Loan Participation 

Program 

Oklahoma Center for the 

Advancement of Science 

and Technology (OCAST) 

(Implementing) 

$32,740,289 SSBCI-RFP@ 

ocast.ok.gov 

Oregon Oregon Business Development Department (DBA 

Business Oregon) 

Business Oregon Venture 

Direct Program 

Other Oregon Business 

Development Department 

(aka Business Oregon) 

(Implementing) 

$15,000,000 Ricardo.Lopez@ 

biz.oregon.gov 

Oregon Oregon Business 

Development Department 

(DBA Business Oregon) 

Credit Enhancement Fund Loan Guarantee 

Program 

Oregon Business 

Development Department 

(aka Business Oregon) 

(Implementing) 

$32,501,226 Blair.Sundell@ 

biz.oregon.gov 

Oregon Oregon Business 

Development Department 

(DBA Business Oregon) 

Oregon Royalty Fund Other Oregon Business 

Development Department 

(aka Business Oregon) 

(Implementing) 

$12,000,000 thomas.schnell@ 

biz.oregon.gov 

Oregon Oregon Business 

Development Department 

(DBA Business Oregon) 

Business Oregon 

Relender Program 

Loan Participation 

Program 

Oregon Business 

Development Department 

(aka Business Oregon) 

(Implementing) 

$9,000,000 thomas.schnell@biz. 

oregon.gov 

Oregon Oregon Business 

Development Department 

(DBA Business Oregon) 

Business Oregon Venture 

Fund Program 

Other Oregon Business 

Development Department 

(aka Business Oregon) 

(Implementing) 

$15,000,000 Ricardo.Lopez@ 

biz.oregon.gov 

Pennsylvania Pennsylvania Department 

of Community & Economic 

Development 

PA-SSBCI Diverse Venture 

Loan Program 

Equity Capital 

Program (Funds) 

Pennsylvania Department 

of Community & 

Economic Development 

(Implementing) 

$17,000,000 ra-dcpassbci@pa.gov 

Pennsylvania Pennsylvania Department 

of Community & Economic 

Development 

PA-SSBCI Revolving Loan 

Fund Program 

Loan Participation 

Program 

York County 

Economic Alliance 

(Contracted),Women's 

Opportunity Resource 

Center (Contracted),VestedIn 

(Contracted),Tioga County 

Development Corporation 

(Contracted),The Progress 

Fund (Contracted),The 

Enterprise Center 

(Contracted),SEDA-COG 

(Contracti 

$125,838,132 ra-dcpassbci@pa.gov 

U.S. DEPARTMENT OF THE TREASURY 

STATE SMALL BUSINESS CREDIT INITIATIVE 

13 
Applicant 

Name 

Implementing 

Entity Name 

Name of Program 

Overview 

Program Type Administering 

Entities 

Amount 

Requested 

Contact 

Pennsylvania Pennsylvania Department 

of Community & Economic 

Development 

PA-SSBCI Equity Capital 

Program 

Equity Capital 

Program (Direct) 

Life Sciences Greenhouse 

of Central Pennsylvania 

(Contracted),Innovation 

Works (Contracted), 

BioAdvance (Contracted), 

Ben Franklin Technology 

Partners of Southeastern PA 

(Contracted),Ben Franklin 

Technology Partners of 

Northeastern Pennsylvania 

(Contract) 

$125,000,000 ra-dcpassbci@pa.gov 

Rhode Island State of Rhode 

Island Department of 

Administration 

Capital Access Program CAP Commerce Corporation 

(Contracted) 

$3,346,320 William.Ash@ 

CommerceRI.com 

Rhode Island State of Rhode 

Island Department of 

Administration 

Loan Participation 

Program 

Loan Participation 

Program 

Commerce Corporation 

(Contracted) 

$26,880,000 William.Ash@ 

CommerceRI.com 

Rhode Island State of Rhode 

Island Department of 

Administration 

Venture Capital Program Equity Capital 

Program (Direct) 

Commerce Corporation 

(Contracted) 

$31,500,000 William.Ash@ 

CommerceRI.com 

South Carolina South Carolina JobsEconomic Development 

Authority 

South Carolina SSBCI 

Loan Participation 

Program 

Loan Participation 

Program 

Business Development 

Corporation 

(Contracted),South 

Carolina Jobs-Economic 

Development Authority 

(Implementing) 

$50,342,659 NGreen@BDCofSC. 

org 

South Carolina South Carolina Jobs-Economic Development 

Authority 

South Carolina SSBCI 

Venture Capital Program 

Equity Capital 

Program (Funds) 

South Carolina Jobs-Economic Development Authority (Implementing),InvestSC, 

Inc. (Contracted) 

$51,000,000 SSBCI@scjeda.com 

South Dakota Governor's Offce of 

Economic Development 

SD Works Loan Participation 

Program 

Governor's Offce of 

Economic Development 

(Implementing) 

$60,010,454 Travis.Dovre@ 

sdgoed.com 

Tennessee Tennessee Department of 

Economic & Community 

Development (TNECD) 

TN Loan Participation 

Program 

Loan Participation 

Program 

Tennessee Department of 

Economic & Community 

Development (TNECD) 

(Implementing) 

$46,929,549 Lamont.Price@tn.gov 

Tennessee Tennessee Department of 

Economic & Community 

Development (TNECD) 

BuildTN Regional Seed 

Program 

Equity Capital 

Program (Direct) 

Tennessee Technology 

Development Corp dba 

Launch Tennessee 

(LaunchTN) (Contracted) 

$28,000,000 Lamont.Price@tn.gov 

Tennessee Tennessee Department of 

Economic & Community 

Development (TNECD) 

BuildTN Multi-Fund 

Program 

Equity Capital 

Program (Funds) 

Tennessee Technology 

Development Corp dba 

Launch Tennessee 

(LaunchTN) (Contracted) 

$12,000,000 Lamont.Price@tn.gov 

Tennessee Tennessee Department of 

Economic & Community 

Development (TNECD) 

BuildTN Tech Fund 

Program 

Equity Capital 

Program (Direct) 

Tennessee Technology 

Development Corp dba 

Launch Tennessee 

(LaunchTN) (Contracted) 

$30,000,000 Lamont.Price@tn.gov 

Texas Offce of The Governor of 

Texas 

Texas Small Business 

Credit Initiative (TSBCI) 

Capital Access Program 

CAP Offce of The Governor of 

Texas (Implementing) 

$118,023,533 tsbci@gov.texas.gov 

Texas Offce of The Governor of 

Texas 

Texas Small Business 

Credit Initiative (TSBCI) 

Loan Guarantee Program 

Loan Guarantee 

Program 

Offce of The Governor of 

Texas (Implementing) 

$354,070,600 tsbci@gov.texas.gov 

Utah Utah Governor's Offce of 

Economic Opportunity 

Loan Participation 

Program 

Loan Participation 

Program 

Utah Governor's Offce 

of Economic Opportunity 

(Implementing) 

$27,602,400 aleciahart@utah.gov. 

14 U.S. DEPARTMENT OF THE TREASURY 

STATE SMALL BUSINESS CREDIT INITIATIVE 
 

Applicant 

Name 

Implementing 

Entity Name 

Name of Program 

Overview 

Program Type Administering 

Entities 

Amount 

Requested 

Contact 

Utah Utah Governor's Offce of 

Economic Opportunity 

Loan Guarantee Program Loan Guarantee 

Program 

Utah Center for 

Neighborhood Stabilization's 

(UCNS) Utah Small Business 

Growth Initiative (USBGI) 

(Contracted) 

$31,052,700 dan@utcns.com 

Utah Utah Governor's Offce of 

Economic Opportunity 

Capital Access Program CAP Utah Governor's Offce 

of Economic Opportunity 

(Implementing) 

$10,350,900 aleciahart@utah.gov. 

Vermont Vermont Economic 

Development Authority 

Vermont Loan 

Participation Program 

Loan Participation 

Program 

Vermont Economic 

Development Authority 

(Implementing) 

$28,973,989 trichardson@veda.org 

Vermont Vermont Economic 

Development Authority 

Vermont Equity Capital 

Program (Direct) 

Equity Capital 

Program (Direct) 

Vermont Center for 

Emerging Technologies, Inc. 

(VCET) (Contracted),Center 

on Rural Innovation (CORI) 

(Contracted) 

$18,000,000 trichardson@veda.org 

Vermont Vermont Economic 

Development Authority 

Vermont Equity Capital 

Program (Funds) 

Equity Capital 

Program (Funds) 

Vermont Economic 

Development Authority 

(Implementing) 

$10,973,989 trichardson@veda.org 

Virginia Virginia Small Business 

Financing Authority 

(VSBFA) 

SSBCI Loan Participation 

Program 

Loan Participation 

Program 

Virginia Small Business 

Financing Authority (VSBFA) 

(Implementing) 

$20,734,000 cheryl.bostick@sbsd. 

virginia.gov 

Virginia Virginia Small Business 

Financing Authority 

(VSBFA) 

SSBCI Loans to CDFI 

Program 

Loan Participation 

Program 

Virginia Small Business 

Financing Authority (VSBFA) 

(Implementing) 

$5,181,669 cheryl.bostick@sbsd. 

virginia.gov 

Virginia Virginia Small Business Financing Authority (VSBFA) SSBCI Venture Capital 

Program 

Equity Capital 

Program (Funds) 

Virginia Innovation Partnership Corporation (VIPC) 

(Contracted) 

$89,332,379 robert.stolle@ 

virginiaipc.org 

Virginia Virginia Small Business 

Financing Authority 

(VSBFA) 

SSBCI Loan Guaranty 

Program 

Loan Guarantee 

Program 

Virginia Small Business 

Financing Authority (VSBFA) 

(Implementing) 

$31,101,000 cheryl.bostick@sbsd. 

virginia.gov 

Virginia Virginia Small Business 

Financing Authority 

(VSBFA) 

SSBCI Venture Capital 

Program (Direct) 

Equity Capital 

Program (Direct) 

Virginia Innovation 

Partnership Corporation 

(VIPC) (Contracted) 

$84,085,955 robert.stolle@ 

virginiaipc.org 

Washington Washington State 

Department of Commerce 

(Commerce) 

Washington State Venture 

Capital Fund 

Equity Capital 

Program (Funds) 

Washington State 

Department of Commerce 

(Implementing) 

$49,000,000 Linda.Womack@ 

Commerce.WA.Gov 

Washington Washington State 

Department of Commerce 

(Commerce) 

Revenue Based Loan 

Program 

Loan Participation 

Program 

National Development 

Council (NDC) (Contracted) 

$13,000,000 Linda.Womack@ 

Commerce.WA.Gov 

Washington Washington State 

Department of Commerce 

(Commerce) 

Small Business Collateral 

Support Program 

Collateral Support 

Program 

Evergreen Business Capital 

Community Finance 

(Contracted) 

$10,460,354 Linda.Womack@ 

Commerce.WA.Gov 

Washington Washington State 

Department of Commerce 

(Commerce) 

Micro and Small Business 

Loan Fund 

Loan Participation 

Program 

Calvert Impact Capital 

(Contracted) 

$65,000,000 Linda.Womack@ 

Commerce.WA.Gov 

Washington Washington State 

Department of Commerce 

(Commerce) 

Commercial Real Estate 

Loan Program 

Loan Participation 

Program 

Heritage Bank Community 

Development Entity, LLC 

(Contracted) 

$26,000,000 Linda.Womack@ 

Commerce.WA.Gov 

West Virginia West Virginia Jobs 

Investment Trust 

Seed Capital CoInvestment Fund Equity Capital 

Program (Direct) 

West Virginia Jobs 

Investment Trust 

(Implementing) 

$37,494,495 WVCAP@wv.gov 

West Virginia West Virginia Jobs 

Investment Trust 

Subordinated Debt Fund Loan Participation 

Program 

West Virginia Jobs 

Investment Trust 

(Implementing) 

$29,610,303 WVCAP@wv.gov 

U.S. DEPARTMENT OF THE TREASURY 

STATE SMALL BUSINESS CREDIT INITIATIVE 

15 
Applicant 

Name 

Implementing 

Entity Name 

Name of Program 

Overview 

Program Type Administering 

Entities 

Amount 

Requested 

Contact 

West Virginia West Virginia Jobs 

Investment Trust 

Collateral Support Fund Collateral Support 

Program 

West Virginia Jobs 

Investment Trust 

(Implementing) 

$5,000,000 WVCAP@wv.gov 

Wisconsin Wisconsin Department of 

Administration 

Wisconsin Forward CoInvestment Fund Equity Capital 

Program (Direct) 

Wisconsin Economic 

Development Corporation 

(WEDC) (Contracted) 

$25,000,000 SSBCI_Info@ 

wedc.org 

Wisconsin Wisconsin Department of 

Administration 

WHEDA Capital Access 

Program 

CAP Wisconsin Housing and 

Economic Development 

Authority (WHEDA) 

(Contracted) 

$3,000,000 SSBCI@WHEDA.com 

Wisconsin Wisconsin Department of 

Administration 

WHEDA Subordinate Loan 

Participation Program 

Loan Participation 

Program 

Wisconsin Housing and 

Economic Development 

Authority (WHEDA) 

(Contracted) 

$6,000,000 SSBCI@WHEDA.com 

Wisconsin Wisconsin Department of 

Administration 

WHEDA Collateral 

Support Program 

Collateral Support 

Program 

Wisconsin Housing and 

Economic Development 

Authority (WHEDA) 

(Contracted) 

$6,000,000 SSBCI@WHEDA.com 

Wisconsin Wisconsin Department of 

Administration 

WEDC Technology 

Development Fund 

Other Wisconsin Economic 

Development Corporation 

(WEDC) (Contracted) 

$8,125,677 SSBCI_Info@ 

wedc.org 

Wisconsin Wisconsin Department of 

Administration 

WEDC Capital Catalyst 

Fund 

Loan Participation 

Program 

Wisconsin Economic 

Development Corporation 

(WEDC) (Contracted) 

$6,000,000 SSBCI_Info@ 

wedc.org 

Wisconsin Wisconsin Department of 

Administration 

Wisconsin Forward 

Venture Fund 

Equity Capital 

Program (Funds) 

Wisconsin Economic 

Development Corporation 

(WEDC) (Contracted) 

$25,000,000 SSBCI_Info@ 

wedc.org 

Wyoming Wyoming Business Council Wyoming Venture Funds Equity Capital 

Program (Funds) 

Wyoming Business Council 

(Implementing) 

$23,426,481 VentureCapital@ 

wyo.gov 

Wyoming Wyoming Business Council Wyoming Venture Direct Equity Capital 

Program (Direct) 

Wyoming Business Council 

(Implementing) 

$35,000,000 VentureCapital@ 

wyo.gov 

American 

Samoa* 

American Samoa 

Government Department 

of Commerce 

Loan Guarantee Program Loan Guarantee 

Program 

American Samoa 

Government Department of 

Commerce (Implementing) 

$32,537,178 ssbci@doc.as.gov 

American 

Samoa* 

American Samoa 

Government Department 

of Commerce 

Loan Participation 

Program 

Loan Participation 

Program 

American Samoa 

Government Department of 

Commerce (Implementing) 

$8,562,415 ssbci@doc.as.gov 

American 

Samoa* 

American Samoa 

Government Department 

of Commerce 

Collateral Support 

Program 

Collateral Support 

Program 

American Samoa 

Government Department of 

Commerce (Implementing) 

$5,708,278 ssbci@doc.as.gov 

American 

Samoa* 

American Samoa 

Government Department 

of Commerce 

AS Co-Investment Fund Equity Capital 

Program (Direct) 

American Samoa 

Government Department of 

Commerce (Implementing) 

$10,274,898 ssbci@doc.as.gov 

Commonwealth 

of Puerto Rico 

Economic Development 

Bank for Puerto Rico (EDB) 

Loan Participation 

Program 

Loan Participation 

Program 

Economic Development 

Bank for Puerto Rico (EDB) 

(Implementing) 

$21,874,614 scarlo@bde.pr.gov 

Commonwealth 

of Puerto Rico 

Economic Development 

Bank for Puerto Rico (EDB) 

Collateral Support 

Program 

Collateral Support 

Program 

Economic Development 

Bank for Puerto Rico (EDB) 

(Implementing) 

$87,498,455 scarlo@bde.pr.gov 

Commonwealth 

of the Northern 

Mariana 

Islands* 

CNMI Department of 

Commerce 

Loan Participation 

Program 

Loan Participation 

Program 

CNMI Department of 

Commerce (Implementing) 

$19,019,255 kcody@commerce. 

gov.mp 

16 U.S. DEPARTMENT OF THE TREASURY 

STATE SMALL BUSINESS CREDIT INITIATIVE 
 

Applicant 

Name 

Implementing 

Entity Name 

Name of Program 

Overview 

Program Type Administering 

Entities 

Amount 

Requested 

Contact 

Commonwealth 

of the Northern 

Mariana Islands* 

CNMI Department of 

Commerce 

Loan Guarantee Program Loan Guarantee 

Program 

CNMI Department of 

Commerce (Implementing) 

$19,019,254 kcody@commerce. 

gov.mp 

Commonwealth 

of the Northern 

Mariana Islands* 

CNMI Department of 

Commerce 

Collateral Support 

Program 

Collateral Support 

Program 

CNMI Department of 

Commerce (Implementing) 

$19,019,254 kcody@commerce. 

gov.mp 

Guam Guam Economic 

Development Authority 

Loan Guarantee Program Loan Guarantee 

Program 

Guam Economic 

Development Authority 

(Implementing) 

$36,280,720 tara.murakami@ 

investguam.com 

Guam Guam Economic 

Development Authority 

Collateral Support 

Program 

Collateral Support 

Program 

Guam Economic 

Development Authority 

(Implementing) 

$12,389,202 tara.murakami@ 

investguam.com 

Guam Guam Economic 

Development Authority 

Destinu Guahan Venture 

Corporation 

Equity Capital 

Program (Direct) 

Guam Economic 

Development Authority 

(Implementing) 

$10,000,000 tara.murakami@ 

investguam.com 

United States 

Virgin Islands 

Virgin Islands Economic 

Development Authority 

(USVIEDA) 

Loan Participation 

Program 

Loan Participation 

Program 

Virgin Islands Economic 

Development Authority 

(Implementing) 

$25,500,000 SSBCI@usvieda.org 

United States 

Virgin Islands 

Virgin Islands Economic 

Development Authority 

(USVIEDA) 

Loan Guarantee Program Loan Guarantee 

Program 

Virgin Islands Economic 

Development Authority 

(Implementing) 

$22,860,549 SSBCI@usvieda.org 

United States 

Virgin Islands 

Virgin Islands Economic 

Development Authority 

(USVIEDA) 

Collateral Support 

Program 

Collateral Support 

Program 

Virgin Islands Economic 

Development Authority 

(Implementing) 

$5,000,000 SSBCI@usvieda.org 

United States 

Virgin Islands 

Virgin Islands Economic 

Development Authority 

(USVIEDA) 

Payment Surety and 

Performance Bond 

Program 

Loan Guarantee 

Program 

Virgin Islands Economic 

Development Authority 

(Implementing) 

$4,500,000 SSBCI@usvieda.org 

*The following applications are under review as of March 31, 2023: Alabama, American Samoa, District of Columbia, Northern Mariana Islands, Mississippi 

U.S. DEPARTMENT OF THE TREASURY 17 

STATE SMALL BUSINESS CREDIT INITIATIVE 
THE 

D

EPARTMENT OF THE TREA

S

URY 

1789