STATE SMALL BUSINESS

CREDIT INITIATIVE:

A SUMMARY OF STATES’

2016

ANNUAL REPORTS
DEPARTMENT OF THE TREASURY

WASHINGTON, D.C. 20220

July 24, 2017

We are pleased to present the Summary of States’ Annual Reports for the U.S. Treasury’s State 

Small Business Credit Initiative (SSBCI). SSBCI was created by the Small Business Jobs Act of 

2010 to support state-level small business financing programs in order to improve access to capital 

in the wake of the Great Recession. Seven years later, SSBCI continues to address long-standing 

financing gaps for small businesses, including early stage and women and minority-owned 

businesses. As the SSBCI was appropriated to run through 2017, Treasury’s administration of the 

program sunsets this year, making this the final summary of Annual Reports. 

Cumulatively, from 2011 to 2016, states reported the following notable accomplishments:

• States expended $1.2 billion in SSBCI funds which supported new financing to small 

businesses totaling $10.7 billion.

• SSBCI programs have supported $8.95 in new financing for every $1 of SSBCI funds.

• Small business owners reported that SSBCI funds will help create or save more than 

240,000 jobs.

We commend the state program managers and their partners for enabling thousands of small 

businesses to grow over the past six years, and for their ongoing efforts to recycle SSBCI funds 

to support even more small businesses.

For more information about SSBCI, including the SSBCI Program Evaluation Report, 

visit www.treasury.gov/ssbci.

Kipp Kranbuhl Jeffrey Stout

Deputy Assistant Secretary Director

Small Business, Community Development State Small Business Credit Initiative

And Affordable Housing Policy
SSBCI: Summary of States’ 2016 Annual Reports I

Table of Contents

Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

SSBCI-Supported Loans and Investments Financed Small Business Growth .

SSBCI Mobilized Local Sources of Capital .

SSBCI Program Performance .

Appendix A:

 State-by-State Results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

 Participating Municipalities .

 Participating Territories .

Appendix B:

 SSBCI Funds Expended by State Program . . . . . . . . . . . . . . . . . . . . . . . . . . . 54

Appendix C:

 Top 50 SSBCI Lenders by Dollar Amount Loaned and by Number of Loans .

Appendix D:

 Top 25 SSBCI CDFIs by Dollar Amount Loaned and by Number of Loans . . . . . . . . . . 65

Appendix E:

 SSBCI Program Types .

Acknowledgements .
SSBCI: Summary of States’ 2016 Annual Reports OVERVIEW 1

Overview

The State Small Business Credit Initiative1 (SSBCI) awarded over $1.4 billion to agencies in every state2

for small business financing programs. States designed programs in response to local economic 

conditions and targeted a range of challenges small businesses face securing financing. These programs 

spur private sector financing by sharing the risk of repayment with lenders and investors—primarily 

community banks, community development financial institutions (CDFIs), and local investors. States 

operated five types of programs under SSBCI: capital access programs, loan guarantee programs, loan 

participation programs, collateral support programs, and venture capital programs. SSBCI funds will 

remain with states to be recycled to support more small businesses over time. 

Each year Treasury releases a summary of data submitted to Treasury by the states in Annual Reports. As 

Treasury’s administration of SSBCI sunsets in September 2017, this is the final summary of Annual Reports.

1 The Small Business Jobs Act of 2010 authorized and funded SSBCI to operate through September 27, 2017.

2 SSBCI awarded funding to 47 states, the District of Columbia, five territories, and municipalities in three states, collectively 

referred to as “states” in this report.
SSBCI: Summary of States’ 2016 Annual Reports OVERVIEW 2

Highlighted Outcomes

$10.7 billion in new financing from over 21,000 loans and investments—From 2011 to 2016, the 

total value of new financing provided to small businesses supported by SSBCI funds reached $10.7 billion 

or almost $9 for every $1 in SSBCI funds loaned to or invested in a small business. 

Over 240,000 jobs created or retained—The small business owners who received SSBCI-supported 

funds projected that they will create over 79,000 jobs within two years of the loan or investment and 

will retain over 161,000 jobs that were at risk of loss.

Figure 1: New Financing Supported by SSBCI

$250 m – $500 m

$100 m – $250 m

$50 m – $100 m

$0 – $50 m

$500 m – $1.1bn

New Financing

ID

NW

AZ

AK

HI

NM

TX

CO

UT

MT ND

SD

WY

NE

KS

OK

AR

LA

MO

IA

MN

WI

IL IN

MI

OH

PA

NY

VT

ME

NH

MA

RI CT

NJ

DE

DC

VA WV

KY

TN

MS AL GA

NC

SC

FL

MD

WA

OR

CA

Puerto

Rico

American

Samoa

U.S. Virgin Guam

Islands

Northern

Mariana Islands
SSBCI: Summary of States’ 2016 Annual Reports OVERVIEW 3

Over 80 new small business support programs—The availability of SSBCI funds resulted in a new 

infrastructure of credit support programs across the country. SSBCI funded 154 programs nationwide, 

more than half of which were created as a result of SSBCI. States dedicated $1 billion (70 percent) 

to programs that support lending to small businesses and over $400 million (30 percent) to venture 

capital programs targeting investment in early stage small businesses.

3 The data presented throughout this report are cumulative through December 31, 2016.

Figure 2: Summary of Program Outcomes by Objective, cumulative through 

December 31, 20163

Objective Program Outcomes 

Support financing of small businesses Median business size: 3 full-time employees

Average business size: 11 full-time employees

Median loan/investment amount at closing: $33,000

Average loan/investment amount at closing: $381,700

Expand access to credit to businesses in low- and moderate-income 

(LMI) areas, minority and other underserved communities

42.9 percent in LMI areas

41 percent to women or minority-owned businesses*

Leverage new financing $8.95 in new financing for each $1 in SSBCI funds expended 

Create or retain jobs 240,669 projected jobs created or retained (79,193 created, 

161,476 retained) within two years of loan or investment closing 

as reported by small business owners

* This percentage does not reflect all women or minority-owned businesses supported by SSBCI funds because only some states reported this data.
SSBCI: Summary of States’ 2016 Annual Reports LOANS AND INVESTMENTS 4

SSBCI-Supported Loans and Investments 

Financed Small Business Growth

SSBCI funds supported over 21,000 loans and investments made to small businesses representing 

almost every major industry sector. States aligned programs with local economic development 

goals by addressing financing gaps facing neighborhood businesses, high-tech startups, and small 

manufacturers, among others. This section highlights some types of businesses that received a 

significant concentration of SSBCI-supported financing.

Small manufacturers

States sought to create additional economic 

benefits by supporting base industries like 

manufacturing. SSBCI supported 2,520 loans 

and investments totaling $2.5 billion in new 

financing to small manufacturers. These 

businesses reported that SSBCI-supported 

loans and investments would result in 41,000 

jobs created or retained. 

Women and minority-owned 

businesses

SSBCI required states to develop a plan to 

reach underserved communities but gave the 

states flexibility to define “underserved.”4

 Many 

states created programs specifically tailored for 

women and minority-owned businesses. More 

than 41 percent of SSBCI-supported loans or 

investments (totaling more than $1.6 billion) 

were made to women or minority-owned 

businesses.5

4 Small Business Jobs Act of 2010, Sec 3005(e)(8).

5 Business ownership demographics (women-owned 

and minority-owned) were optional data fields. In 

total, 43 out of 56 states reported on a total of 13,479 

transactions to either or both of these data fields. Of 

those transactions, 9,057 transactions were reported 

to be in a women- and/or minority-owned business. 

Those 9,057 transactions were responsible for $1.6 

billion in new financing, representing just over 41 

percent of the 21,963 total SSBCI transactions.

High growth potential businesses

Venture capital is highly concentrated in 

certain states. Many states funded venture 

capital programs that target early stage 

businesses in markets where venture capital 

is less accessible, which helped support over 

$4 billion in new financing through 1,623 

investments.

Businesses in economically distressed 

areas

SSBCI has been effective in supporting small 

businesses in areas that were hit hardest by 

the recession and where the need continues 

to be the greatest. Over 42 percent of SSBCIsupported loans and investments were made 

to businesses in low- and moderate-income 

(LMI) communities. 

Very small businesses

Over 17,000 transactions or 78 percent of 

all SSBCI-supported loans and investments 

were to businesses with under $1 million in 

revenues, a category of business that have 

more difficulty accessing capital.6

6 Small Business Credit Survey. Federal Reserve 

Banks. April 2017. Web accessed. Page iv. (https://

www.newyorkfed.org/medialibrary/media/

smallbusiness/2016/SBCS-Report-EmployerFirms-2016

.pdf)
SSBCI: Summary of States’ 2016 Annual Reports LOANS AND INVESTMENTS 5

Featured Small Businesses 

JSB Industrial Solutions (Kentucky)

Conventional financing was out of reach when 

Shane Wallingford tried to start a sheet metal 

manufacturing company. A local Community 

Development Financial Institution (CDFI), 

the Mountain Association for Community 

Economic Development (MACED), stepped in 

with support from the Kentucky Cabinet for 

Economic Development’s collateral support 

program to provide a loan for equipment and 

start-up costs. The loan enabled JSB Industrial 

Solutions to start up and create five new jobs 

in an economically distressed county.

Jada Beauty (Indiana)

When Danielle McDowell and Janell Shaffer 

sought seed capital for their e-commerce 

platform, Jada Beauty, Indiana’s SSBCI program 

matched an investment from a membermanaged angel fund. Jada Beauty launched 

and within 18 months was acquired by a 

national brand. Indiana generated sizable 

returns, providing additional early-stage 

capital available to be invested in future 

opportunities.

Prospect Mining (Alabama)

Special purpose buildings, such as a coal 

washing facility, are more difficult to finance 

because of limited resale demand. Alabama’s 

SSBCI program guaranteed a $5 million loan to 

Prospect Mining to finish construction of such 

a facility, saving the company over one million 

dollars per year on hauling expenses. Prospect 

Mining estimates the facility will support 

approximately 100 jobs in an economically 

distressed region of the state.

Thai Zap (Idaho)

Obtaining traditional financing can be difficult 

for first-time small business owners. Idaho’s 

SSBCI program provided collateral support 

to guarantee a $49,500 loan to start a food 

truck serving Thai cuisine to the residents of 

Pocatello, Idaho. The business owner was able 

to hire three employees. 
SSBCI: Summary of States’ 2016 Annual Reports MOBILIZED CAPITAL 6

SSBCI Mobilized Local Sources of Capital

States addressed local financing gaps by sharing risk with local lenders and investors. This section 

highlights the types of lenders and investors that participated in SSBCI programs.

Community banks

Sixty-three percent of the dollar amount 

of loans supported by SSBCI ($3.4 billion) 

were made by community banks. Over 700 

community banks participated in SSBCI 

programs across the country.

Community Development Financial 

Institutions (CDFIs)

CDFIs, lenders with a mission of community 

development, accounted for 54 percent of 

all SSBCI-supported loans or $835 million in 

new financing. The average CDFI borrower 

had four full-time employees, which is defined 

as a microbusiness by the Small Business 

Administration. 

Regional Banks

A number of regional banks were very active 

participants in SSBCI. Seven of the top 25 

lenders by volume were regional banks, which 

primarily funded more established businesses 

that averaged 22 full-time employees.

Equity Investors

Under SSBCI, 38 states funded venture capital 

programs. These programs engaged a variety 

of equity investors to improve access to equity 

investments in innovative businesses.7

 SSBCI 

venture capital programs helped support 

$4.2 billion in new financing.

7 Thirty-eight states funded venture capital programs. 

As of December 31, 2016, 36 venture capital programs 

had expended SSBCI dollars. In this report, those 36 

programs will be referred to as active programs.
SSBCI: Summary of States’ 2016 Annual Reports MOBILIZED CAPITAL 7

Featured Small Businesses

Servant’s Heart (North Carolina)

Servant’s Heart, a non-profit that provides 

coordinated care for adults with mental and 

developmental disabilities, received a loan to 

buy a new building and expand its operations. 

NewBridge Bank, a community bank, and The 

North Carolina Rural Center, which operates 

North Carolina’s Loan Participation Program, 

came together to make the loan possible.

Southern Girl Desserts (California)

After turning to merchant cash advances to 

finance the rapid expansion of Los Angelesbased Southern Girl Desserts, the owners 

faced monthly payments equal to 40 percent 

of the company’s cash flow. They refinanced 

their high cost debt through California’s CAP 

program with Opportunity Fund, a CDFI. The 

refinance cut their monthly payments by 

ninety percent.

Earnest Products (Florida) 

Earnest Products fabricates high-quality metal 

used to manufacture custom parts. Fifth Third 

Bank, a regional bank, financed the company’s 

recent expansion, including a $1.75 million 

line of credit guaranteed by Florida’s SSBCI 

program. The expansion created 25 new jobs 

and the business anticipates creating 100 more 

high-wage, skilled manufacturing jobs over the 

next few years.

Moleculera Labs (Oklahoma)

The founders of Moleculera Labs developed a 

test to help differentiate autism from Pediatric 

Acute-Onset Neuropsychiatric Syndrome (PANS). 

Moleculera struggled to raise investment 

to commercialize its test until i2E, a private 

non-profit that administers Oklahoma’s 

SSBCI program, invested over $1 million and 

helped attract co-investment from local angel 

investors. Moleculera now has 11 employees. 

Initially, Moleculera’s client base was 12 clinicians, 

but now nearly 850 order the test and over 

5,000 patients have been tested and treated. 
SSBCI: Summary of States’ 2016 Annual Reports PROGRAM PERFORMANCE 8

SSBCI Program Performance

2016 marked the sixth year of SSBCI program activity. This section highlights measures of performance 

assembled from the states’ 2016 Annual Reports.8

Aggregate Performance

States designed SSBCI programs suited to their local communities and had the flexibility to apply 

funds to the types of programs that they deemed most successful. Figure 3 highlights performance by 

program type.

Capital access programs (CAPs) provide a portfolio loan loss reserve for which the lender and 

borrower contribute a share of the loan value (up to seven percent) that is matched on a dollar-fordollar basis with SSBCI funds. Losses may be recovered from the reserve until there is no additional 

funding in the reserve. CAPs operate in 24 states, which allocated $40 million toward them. CAPs 

expended 71 percent of their allocated amounts (includes administrative expenses) by making 13,965 

small business loans.

Collateral support programs (CSPs) provide cash to lenders to boost the value of available collateral. 

A collateral shortfall is a common issue in many areas where the economy has not fully recovered from 

the Great Recession. CSPs operate in 17 states, which collectively allocated $269 million toward them. 

States have expended 89 percent of the funds allocated to CSPs, totaling $238 million. The average 

total financing per small business loan in a CSP was $866,200.

Loan guarantee programs (LGPs) provide an assurance to lenders of partial repayment in the event 

a loan goes into default. Guarantees typically support businesses that do not fit standard lending 

criteria. States allocated $246 million toward LGPs operating in 22 states, and have expended 

$182 million of that amount, or 74 percent. State LGPs supported 2,779 loans averaging 

$501,900 per loan.

8 The data throughout this report have not been verified or audited by Treasury.

Figure 3: Summary Data by Program Type

States with 

Programs

Loans/ 

Investments

Total New Financing 

($ millions) 

Average New Financing 

per Transaction

Leverage 

Ratio

Jobs 

Retained

Jobs 

Created

Capital Access 24 13,965 $640 $45,849 22.54:1 65,073 14,553

Collateral Support 17 1,530 $1,325 $866,195 5.57:1 14,059 12,105

Loan Guarantee 22 2,779 $1,395 $501,891 7.66:1 44,447 16,793

Loan Participation 40 2,065 $3,157 $1,528,715 7.53:1 27,208 22,173

Venture Capital 38 1,623 $4,171 $2,569,664 12.76:1 10,689 13,569
SSBCI: Summary of States’ 2016 Annual Reports PROGRAM PERFORMANCE 9

Loan participation programs (LPPs) purchase a portion of a loan that a lender makes or make a 

direct loan from the state in conjunction with a private loan (companion loan). The state typically is 

subordinate to the lender’s loan. LPPs operate in 40 states, which allocated $474 million—the largest 

allocation of SSBCI funds for any program type—toward them. States have expended $419 million of 

the allocation.

Venture capital programs (VCPs) provide financing by purchasing an ownership interest or providing 

equity-like loans to enterprises that typically do not participate in debt financing markets due to 

their business stage and structure. Forty states allocated $431 million toward VCPs, and expended 76 

percent, or $327 million. VCPs supported $4.2 billion in new financing, the most of any program type, 

and achieved a leverage ratio of 12.76 to 1.

See Appendix E for additional details on performance by program type.
SSBCI: Summary of States’ 2016 Annual Reports PROGRAM PERFORMANCE 10

New Financing Leveraged 

Through 2016, $8.95 in new financing resulted from every $1 of SSBCI funding (8.95:1 leverage ratio).9

Figure 4 summarizes the ratio of new financing supported to dollars of SSBCI expended from 

2011 to 2016. 

CAPs and VCPs achieved significantly higher leverage than LGPs, LPPs, and CSPs. CAPs achieve higher 

leverage (22.54) by virtue of the program’s design in which the state’s contribution is limited to 

two-to-seven percent of each loan and averaged four percent. VCPs achieved higher leverage 

(12.76) in large part because initial rounds of financing set the stage for future rounds. 

SSBCI funds will continue to spur more new financing as loans or investments are repaid and states 

recycle SSBCI funds into new small businesses, even after the SSBCI program sunsets. Through 2016, 

states recycled $280 million. Over half of all states reported recycling funds. 

9 New financing leverage calculations include SSBCI funds expended for administrative expenses and exclude 

non-private sources.

Figure 4: New Financing Leveraged

Total New Financing Leveraged Including

Subsquent Private Financing ($ millions)

SSBCI Funds Expended ($ millions)

0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

$4,500

0 $30 $80 $130 $180 $230 $280 $330 $380 $430

Loan Guarantee

Collateral Support

Loan Participation

Venture Capital

Capital Access

22.54

7.66 5.57

12.76

7.53

Figure 5: Leverage Ratios by Program Type

Program Type

SSBCI Funds Expended* 

($ millions)

Total New Financing Leveraged including 

Subsequent Private Financing**

($ millions)

Total Subsequent 

Private Financing

($ millions) Leverage Ratio

Capital Access $28 $640 $0 22.54:1

Collateral Support $238 $1,325 $0 5.57:1

Loan Guarantee $182 $1,395 $0 7.66:1

Loan Participation $419 $3,157 $270 7.53:1

Venture Capital $327 $4,171 $2,035 12.76:1

Total $1,195 $10,688 $2,305 8.95:1

* Includes SSBCI funds expended for program administration

** Includes financing leveraged with recycled SSBCI funds
SSBCI: Summary of States’ 2016 Annual Reports PROGRAM PERFORMANCE 11

Size and Purpose of SSBCI-Supported Loans and Investments 

Across all programs, the average loan or investment supported by SSBCI was $381,686 at closing 

with an average of $62,121 in SSBCI support.10 The average transaction size and the amount of SSBCI 

support per loan or investment varied by program type. The average amount of a CAP loan was the 

smallest, at approximately $46,000, with $1,752 of SSBCI support, whereas the average transaction size 

of an LPP loan was $1,398,011, with 17.2 percent of SSBCI support, or $240,406.

In 2016 Treasury collected additional data fields through an optional transaction-level data collection. 

Forty-one of 57 states reported transaction level data on the primary use of funds. Figure 7 shows that 

half of all loans and investments for which optional data was reported were primarily used for wages, 

working capital, and professional services.

10 The average level of SSBCI support for each loan or investment does not correlate directly with leverage ratios which 

include activity generated by recycling SSBCI funds and subsequent private financing for certain programs.

Figure 6: Average Transaction Size and Average Level of Support

$ in Thousands

Average Level of Support Average Transaction Size

$0

$800

$600

$400

$200

$1,000

$1,200

$1,400

$1,600

3.8%

CAP

20.8%

Collateral Support

17.6%

Loan Guarantee

17.2%

Loan Participation

15.1%

Venture Capital

Figure 7: Primary Use of Funds

Fund Construction Costs

Purchase Equipment

Purchase Real Estate Refinance

Wages, Working Capital

& Professional Services

3%

3% 5%

50% 39%
SSBCI: Summary of States’ 2016 Annual Reports PROGRAM PERFORMANCE 12

SSBCI-Supported Loans and Investments by Amount

Loans and investments of less than $100,000 made up only five percent of the total dollar amount 

of SSBCI-supported loans and investments through 2016, but they accounted for the bulk of all 

transaction volume. Over two-thirds (69 percent) of SSBCI-supported loans or investments were less 

than $100,000. Total financings of greater than half a million dollars represented 81 percent of the total 

dollar amount but just 14 percent of the total transaction volume.

Figure 8: SSBCI-Supported Loans or Investments

# of Loans/Investments

New Financing ($ millions)

# of Transactions New Financing

0 2,000 4,000 6,000 8,000

0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000

>$10 million

$500,000–$10 million

$100,000–$500,000

<$100,000

51

$ 950

2,994

$ 7,608

3,742

15,175

$ 1,499

$ 631
SSBCI: Summary of States’ 2016 Annual Reports PROGRAM PERFORMANCE 13

Jobs Created and Retained

Business owners projected that SSBCI-supported loans and investments would lead to the creation 

and retention of 240,669 jobs—79,193 jobs created and 161,476 jobs retained. Business owners 

estimated the number of full-time jobs that will be created within two years and that will be retained 

that were at risk of loss.11

11 Jobs Created include the number of new Full-Time Equivalent (FTE) jobs expected to be created as a direct result of the 

loan; according to the business owner, these jobs will materialize within two years from the date of the loan closing. Jobs 

Retained is the number of FTE jobs retained as a direct result of the loan that were at risk of loss. These numbers may 

duplicate job estimates for any loans reported under federal programs such as the SBA CDC/504 Loan Program. Treasury 

did not verify or audit these estimates.

Figure 9: Jobs Created and Retained by Program Type

Jobs Retained Jobs Created

0

20,000

40,000

60,000

80,000

CAP Collateral Support Loan Guarantee Loan Participation Venture Capital

79,626

26,164

61,240

49,381

24,258
SSBCI: Summary of States’ 2016 Annual Reports PROGRAM PERFORMANCE 14

Loans or Investments Made in Low- and Moderate-Income (LMI) Communities

The LMI designation is one proxy for the various “underserved” populations targeted by states. 

Treasury collected data on business location to analyze the percentage of states that used SSBCI 

to reach underserved communities. More than four out of every ten SSBCI-supported loans or 

investments were made to businesses in LMI communities.12

12 Calculated from total number of loans or investments made in low- and moderate-income census tracts. The “Low and 

Moderate Income” categorizations are derived from income data from the Census Bureau. The SSBCI Annual Report 

transaction statistics are linked to 2010 data from the Census Bureau’s 5-year American Community Survey which is the 

successor to the decennial census for census tract level data for income and poverty data. “Low income” households earn 

less than 50 percent of area median income. “Moderate income” households earn between 50 percent and 80 percent of 

area median income.

Figure 10: Percent of SSBCI-Supported Loans or Investments (by Number) 

in LMI Communities by Program Type

0% 10% 20% 30% 40% 50%

Cumulative

All Other

CAP

42.9%

34.3%

48%
SSBCI: Summary of States’ 2016 Annual Reports PROGRAM PERFORMANCE 15

Small Business Characteristics

This section highlights the variety of small businesses supported based on size (number of fulltime employees (FTEs) and revenue), age, and, in the case of venture capital, investment stage. The 

percentages are based on the volume of loans and investments, not dollar amount. SSBCI funds 

tended to support very small businesses. Over 80 percent of the loans and investments were made to 

businesses with 10 or fewer full-time employees. Two-thirds of SSBCI-supported loans and investments 

were made to businesses with revenue between $0 and $500,000. Additionally, over half of all SSBCIsupported loans and investments were made to businesses less than five years old.

VCPs had the option to report the stage at which SSBCI-supported investment was made in each 

business during Treasury’s 2016 optional transaction-level data collection. Twenty-three states with 

VCPs reported this information. Figure 14 shows that for the 967 investments reported, 85 percent 

were made in businesses at the pre-seed, seed, and early stage.

Figure 11: Size of 

Business, by FTEs

Figure 12: Size of 

Business, by Revenue

Figure 13: Age of 

Business, in Years

0–1 FTEs

2–10 FTEs

10+ FTEs

20% 32%

48%

<$100k

$100k–$500k

$500k–$1m

$1m–$5m

>$5m 

15%

7%

39%

29%

10%

0–1 Years

2–5 Years 6–10 Years

>10 Years

24% 23%

30%

21%

Figure 14: Stage of Venture Capital Investments

Seed

Early Stage

Mezzanine

Growth

Pre-Seed

27%

4%

45%

11%

13%
SSBCI: Summary of States’ 2016 Annual Reports PROGRAM PERFORMANCE 16

Based on the optional data provided by 43 states, at least 41 percent of all SSBCI-supported loans and 

investments made were to a woman or minority-owned small business. The top three states which 

reported the optional data represented 83 percent of the reported woman and minority-owned small 

business loans and investments.

Figure 15: Loans and Investments to Woman or Minority-Owned Small Businesses

State Number of Transactions Percentage of State’s Transactions

California 6,360 61.8

New York 862 48.9

North Carolina 342 44.5
SSBCI: Summary of States’ 2016 Annual Reports PROGRAM PERFORMANCE 17

Loans and Investments by Industry

SSBCI funds supported businesses in every major industry sector. Manufacturing, Professional, 

Scientific & Technical Services, and Information (which includes a diverse collection of other industries) 

accounted for large shares of SSBCI-supported loans or investments by total dollar amount, with 

Manufacturing alone generating $2.5 billion of new financing. The sector with the highest number of 

transactions was Retail Trade followed by Accommodation and Food Services. 

Figure 16: Industries by NAICS Sector

$145 

$147 

$163 

$174 

$188 

$208 

$263 

$270 

$327 

$391 

$585 

$604 

$864 

$937 

$1,080 

$1,794 

$2,548 

319 

320 

453 

1,014 

41 

381 

1,943 

1,789 

494 

1,586 

1,230 

1,172 

3,646 

2,602 

681 

1,771 

2,520 

0 

# of Loans/Investments 

2,000 4,000 6,000 8,000 10,000 

Other Sectors

Educational Services

Agriculture, Forestry, Fishing and Hunting

Administrative and Support and Waste

Management and Remediation Services

Mining, Quarrying, and Oil and Gas Extraction

Arts, Entertainment, and Recreation

Transportation and Warehousing

Other Services (except Public Administration)

Real Estate and Rental and Leasing

Health Care and Social Assistance

Construction

Wholesale Trade

Retail Trade

Accommodation and Food Services

Information

Professional, Scientific

and Technical Services

Manufacturing

0 500 1,000 1,500 2,000 2,500 3,000 

New Financing ($ millions) 

# of Transactions New Financing
SSBCI: Summary of States’ 2016 Annual Reports PROGRAM PERFORMANCE 18

Lender and Investor Characteristics

Most SSBCI-supported loans were made by lending institutions with less than $10 billion in assets.

Lenders with less than $10 billion in assets, including CDFIs, accounted for 95 percent of all SSBCIsupported loans by volume and 86 percent of all SSBCI-supported loans by dollar amount. Community 

banks alone accounted for 63 percent of all SSBCI-supported loans by dollar amount.

CDFI Participation in SSBCI Programs

CDFIs made nearly 11,000 loans or investments supported by SSBCI funds, totaling $835 million in new 

financing through 2016. CDFIs accounted for 93 percent of the total number of SSBCI-supported loans 

and investments and 8 percent of the total dollar amount financed.

Georgia and California loaned or invested the largest dollar amounts through CDFIs, followed by 

Washington, Pennsylvania, and Mississippi.

CDFIs accounted for just over 86 percent of the total number of SSBCI-supported loans and 

investments in Minnesota, followed by New York (86%), California (78%), Pennsylvania (60%), and 

Washington (59%).

Figure 17: Lender Participation, by Size of Lender

> $10b $1.2b–$10b < $1.2b

# of Transactions New Financing 0%

20%

40%

60%

80%

100%

82.6% 62.5%

12.3%

23.7%

5.1%

13.8%

Figure 18: CDFI v. Non-CDFI Summar

# of Transactions*

SSBCI Expended 

($ millions)

New Financing 

($ millions) Leverage** Jobs Supported

CDFI 10,923 $96.18 $835 8.69 x 56,658

Non-CDFI 9,416 $744.00 $5,682 7.64 x 159,752

Total 20,339 $840.18 $6,517 7.76 x 216,410

* The number of transactions does not include venture capital transactions.

** The leverage ratio does not include administrative expenses.
SSBCI: Summary of States’ 2016 Annual Reports PROGRAM PERFORMANCE 19

Venture Capital Investor Characteristics

State VCPs spurred private investment in small businesses through a variety of organizations and 

structures. This section presents the types of organizations that managed SSBCI dollars and the types 

of private investors that co-invested with them. The organizations that managed SSBCI VCPs fall into 

four general categories: funds, state-sponsored entities, co-investment funds, and state agencies. 

• Funds—SSBCI dollars are obligated to private venture capital funds to be invested alongside private 

capital in eligible deals

• State-Sponsored Entities—Quasi- or non-governmental entities are contracted by the state and 

serve as intermediaries that manage investments

• Co-Investment Models—States set defined criteria for eligible investments and automatically 

match eligible private investments on a formulaic basis

• State Agencies—Staff at the state agency source deals, conduct due diligence, and manage 

investments directly, often with an external investment committee

All SSBCI programs required a minimum of 20 percent matching private capital at risk in all 

transactions, and states targeted an overall private leverage ratio of 10 to 1. Within VCPs, the structural 

categories attracted various sources of private capital. Overall, angel investors and in-state venture 

funds were the most active co-investors in SSBCI venture capital transactions.

13 Primary source of co-investment was an optional data field. In total, 21 of the 36 states with active VCPs reported data on 

the primary source of co-investment, representing a total of 898 transactions, or over 55 percent of the total 1,623 SSBCI 

VCP transactions.

Figure 19: Venture Capital Program Allocations by Category 

VCP Category SSBCI Allocation ($ millions)

State Sponsored Entities (36%)

Co-Investment Models (11%)

State Agencies (6%)

Funds $197.8 Funds (46%)

State Supported Entities $156.7 

Co-Investment Models $49.0 

State Agencies $27.6 

Total $431.1 

Figure 20: Most Active Primary Co-Investor Type per Venture Capital Program 

Category, by number of transactions13

Venture Capital Program Category Most Active Primary Co-Investor Type

Funds Angel Investors

State-Sponsored Entities (SSE) Angel Investors

Co-Investment Models In-State Venture Capital Fund

State Agencies In-State Venture Capital Fund
SSBCI: Summary of States’ 2016 Annual Reports PROGRAM PERFORMANCE 20

According to the National Venture Capital Association’s 2017 Yearbook, California, Massachusetts, and 

New York account for 75 percent of U.S. venture capital dollars invested and 52 percent of total deals 

in the U.S. The top five states by the number of SSBCI VCP investments were Arkansas, Hawaii, Indiana, 

Missouri, and New York. Together these five states were responsible for 610 investments representing 

over one third of the total 1,623 SSBCI-supported venture capital investments in small businesses. 

Figure 21: SSBCI-Supported Venture Capital Investments Across the United States

* The Municipality of Anchorage, Hawaii, and Puerto Rico also expended SSBCI funds in VCPs, totaling $1.3 million, $5.2 million, and $1 million, respectively.
SSBCI: Summary of States’ 2016 Annual Reports PROGRAM PERFORMANCE 21

Performance by State

This section breaks down performance by state. The charts show the total financing supported by 

SSBCI funds by state and each state’s leverage ratio.

Figure 22: Amount of Financing (in millions) Supported by SSBCI by State

American Samoa

Alaska—Anchorage

North Dakota—Carrington

Northern Mariana Islands

Guam

U.S. Virgin Islands

District of Columbia

Nevada

Iowa

New Mexico

Louisiana

Maine

Wyoming—Laramie

Utah

Delaware

Puerto Rico

South Dakota

Indiana

Connecticut

Arizona

North Dakota—Mandan

Mississippi

Oklahoma

Nebraska

West Virginia

Virginia

Montana

Rhode Island

Kentucky

New Jersey

Massachusetts

Colorado

Wisconsin

Tennessee

Minnesota

South Carolina

New Hampshire

Vermont

Ohio

Washington

Oregon

Hawaii

Idaho

Arkansas

Alabama

Kansas

Pennsylvania

Georgia

Missouri

Florida

Maryland

Michigan

Texas

Illinois

New York

California

North Carolina

$0 

$7 

$8 

$9 

$10 

$19 

$20 

$39 

$46 

$52 

$56 

$57 

$59 

$62 

$63 

$65 

$66 

$68 

$73 

$83 

$84 

$85 

$86 

$91 

$103 

$115 

$121 

$121 

$122 

$124 

$133 

$135 

$152 

$160 

$175 

$175 

$177 

$177 

$178 

$179 

$179 

$182 

$208 

$224 

$231 

$232 

$241 

$276 

$374 

$389 

$405 

$525 

$553 

$664 

$697 

$707 

$1,052 

0 200 400 600 800 1000 

New Financing ($ millions)
SSBCI: Summary of States’ 2016 Annual Reports PROGRAM PERFORMANCE 22

Figure 23: Leverage Ratios for Each State

Ohio

Utah

American Samoa

Guam

Northern Mariana Islands

District of Columbia

North Dakota

U.S. Virgin Islands

Indiana

Puerto Rico

Nevada

Arizona

Wyoming—Laramie

New Jersey

Alaska—Anchorage

Florida

Iowa

Tennessee

Connecticut

Louisiana

New Mexico

Massachusetts

Georgia

Virginia

Delaware

Maine

Michigan

Oklahoma

Mississippi

Nebraska

California

Colorado

Alabama

South Dakota

West Virginia

Kentucky

North Dakota—Mandan

South Carolina

Montana

Illinois

Washington

Oregon

Wisconsin

Pennsylvania

Vermont

Texas

New Hamphire

Rhode Island

Minnesota

North Carolina

Missouri

Idaho

New York

Arkansas

Kansas

Hawaii

Maryland

0.00 x 

1.89 x

2.10 x

2.31 x

2.77 x

2.78 x

3.47 x

4.12 x 

4.44 x

4.52 x 

4.69 x

4.78 x

4.89 x

5.16 x

5.29 x

5.57 x

5.57 x

6.17 x

6.46 x

6.61 x 

6.62 x

6.67 x

6.77 x 

6.83 x

7.11 x 

7.19 x 

7.20 x

7.24 x

7.46 x

7.58 x

7.76 x

8.05 x

8.11x

8.22 x

8.35 x

8.37 x

8.85 x

9.70 x

9.83 x

9.84 x

10.52 x

11.14 x

11.53 x

13.17 x

13.63 x

13.84 x

14.04 x

15.22 x

15.30 x

15.95 x

16.34 x

16.45 x

16.88 x

17.93 x

18.64 x

29.36 x

34.72 x

0.00 x 5.00 x 10.00 x 15.00 x 20.00 x 25.00 x 30.00 x 35.00 x

Leverage Ratio
SSBCI: Summary of States’ 2016 Annual Reports PROGRAM PERFORMANCE 23

Measuring Losses and Economic Development

This report does not present the aggregate financial performance of state programs due to data 

constraints. Nevertheless, data from states’ final narratives, as well as the optional data reported by 

some states provides a starting point for further inquiry. 

States were required to submit a final narrative at the end of the program, providing written response 

to program evaluation questions. Among those questions, states were required to report data on 

losses in excess of 50 percent of the original loan or investment amount. Where possible, this data was 

supplemented by loss data collected through the optional data collection.14

In total, states reported $16.4 million in losses or 1.2 percent of total SSBCI dollars expended in lending 

programs. It is important to note that these figures represent a point in time and that programs will 

continue to generate income and experience losses after SSBCI sunsets. 

It is also important to note that in CAPs, states use SSBCI dollars to contribute a small percentage of a 

loan—typically 2–5 percent on any one transaction—to a loan loss reserve, which is available to cover 

up to 100 percent of any loans in the portfolio. This structure gives lenders an incentive to conduct 

an increased quantity of loans to build up the reserve, while also ensuring the state’s liability is never 

more than the fixed 2–5 percent of total lending the program enables. However, this structure also 

means SSBCI dollars lost as a percentage of SSBCI dollars expended tends to be high in CAPs despite 

the relatively low percentage of transactions recording losses.

Venture capital funds assess financial performance in terms of the net returns on investment over the life of 

the fund. Because funds have a 10–15 year lifecycle, this report cannot present the financial performance 

of VCPs. However, states with VCPs did report data on losses through the final narrative and optional data 

collection.15 This data is more complex due to variance in states management and reporting of losses in 

14 In total, 32 states with lending programs reported on SSBCI dollars lost, of which 20 states reported having transactions 

with losses. Those 32 states represented 15,707 transactions, or approximately 77 percent of all SSBCI lending transactions. 

In difference to the Final Narrative, optional data collected on SSBCI losses was inclusive of all losses, including losses less 

than 50 percent of the original loan or investment amount.

15 In total, 20 states with VCPs reported on SSBCI dollars lost, of which 18 states reported having transactions with losses. 

Those states represented 825 transactions, or approximately 51 percent of all SSBCI venture capital transactions. In 

difference to the Final Narrative, optional data collected on SSBCI losses was inclusive of all losses, including losses less 

than 50 percent of the original loan or investment amount.

Figure 24: Loss Percentages by Loan Program Type

Program Type

SSBCI Losses

SSBCI Program Activity

(Including Recycled Dollars) Losses as Percent of Activity

Amount 

($ millions)

Number of 

Transactions

Amount 

($ millions)

Number of 

Transactions

Dollar Amount 

(%)

Number of 

Transactions (%)

CAP $2.5 388 $24.5 13,965 10.4 2.8

Collateral Support $2.8 23 $275.2 1,530 1.0 1.5

Loan Guarantee $5.4 44 $245.4 2,779 2.2 1.6

Loan Participation $5.7 41 $496.4 2,065 1.1 2.0

Total $16.4 496 $1,364.3 20,339 1.2 2.4
SSBCI: Summary of States’ 2016 Annual Reports PROGRAM PERFORMANCE 24

VCPs. However, many of these states also reported on whether or not their portfolio companies were still in 

operation as of December 31, 2016.16 In total, these states reported that 157 transactions, or approximately 

9.7 percent of total SSBCI venture capital transactions, were in companies that had ceased operation as of 

the end of 2016. Ultimately, given that the participating funds are in the first to sixth year of the lifecycle, 

these data are not conclusive. Funds generate most of their returns from a minority of investments and a 

valid measure of performance—net gain or loss—can only take place at the end of a fund’s life cycle.

In addition to financial performance, state programs assess performance based on economic 

development impacts such as jobs created and increased tax revenues. The data currently available 

is not sufficient to confirm job and revenue growth over time. However, SSBCI has matched firm 

identifiers reported through the optional data collection with the U.S. Census Bureau’s Longitudinal 

Business Database, which utilizes IRS tax filings to track firm performance, such as jobs and revenues, 

over time. The matched dataset is available to eligible researchers17 through the Census Bureau’s 

Federal Statistical Research Data Centers.

16 In total, 24 states with VCPs reported on active operations status. Those 24 states that reported active operation status 

represented 1,067 transactions, or approximately 65.7 percent of all SSBCI venture capital transactions.

17 Researchers interested in gaining access to the matched dataset of SSBCI transactions and IRS tax filings providing 

measurement of firm performance over time must obtain Special Sworn Status from the U.S. Census Bureau, passing a 

background check and signing sworn agreements to protect confidentiality for life, facing legal and financial penalties 

under Title 13 and Title 26 for failure to do so. Approved researchers must further submit a project proposal demonstrating 

the need and use for the data to the U.S. Census Bureau for approval. All data is confidential and cannot be accessed 

outside of the Federal Statistical Research Data Centers.
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 25

Appendix A: State-by-State Results

Alabama

Allocation Amount: $31,443,076

Number of Loans/Investments 582

SSBCI Original Allocated Funds Expended $29,241,658

SSBCI Recycled Funds Expended $46,584,781

Total New Financing to Small Businesses $230,994,466

Leverage Ratio 7.90x

Transaction Size and Demographics

Median Principal Loan/Investment Size $150,000

Minimum Principal Loan/Investment Size $3,000

Maximum Principal Loan/Investment Size $5,000,000

LMI Census Tracts (by Number of Transactions) 33.8%

LMI Census Tracts (by Dollar Amount) 33.8%

Non-Metro Areas (by Number of Transactions) 43.1%

Non-Metro Areas (by Dollar Amount) 30.9%

Business Age and Size

Median Business Age at Loan/Investment 3

Median Business Size (FTEs) 3

Median Business Size (Annual Revenue) $254,156

Total Number of Jobs Created or Retained 6,533 

Jobs Created 2,404 

Jobs Retained 4,129 

Top 3 Industries by Number of Transactions

Retail Trade 92 

Manufacturing 69 

Health Care and Social Assistance 57 

Top 3 Industries by Dollar Amount

Retail Trade $36,200,264

Manufacturing $28,294,615

Health Care and Social Assistance $23,345,842

Lender Participation

Small Lenders* (by Number of Transactions) 86.3%

Small Lenders (by Dollar Amount) 68.6%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Arizona

Allocation Amount: $18,286,556

Number of Loans/Investments 61

SSBCI Original Allocated Funds Expended $18,286,556

SSBCI Recycled Funds Expended $2,201,144

Total New Financing to Small Businesses $82,710,192

Leverage Ratio 4.52x

Transaction Size and Demographics

Median Principal Loan/Investment Size $721,000

Minimum Principal Loan/Investment Size $61,709

Maximum Principal Loan/Investment Size $9,319,367

LMI Census Tracts (by Number of Transactions) 50.8%

LMI Census Tracts (by Dollar Amount) 37.9%

Non-Metro Areas (by Number of Transactions) 1.6%

Non-Metro Areas (by Dollar Amount) 9.0%

Business Age and Size

Median Business Age at Loan/Investment 5

Median Business Size (FTEs) 15

Median Business Size (Annual Revenue) $1,283,335

Total Number of Jobs Created or Retained 3,924 

Jobs Created 2,445 

Jobs Retained 1,479 

Top 3 Industries by Number of Transactions

Manufacturing 16 

Professional, Scientific, and Technical Services 8 

Construction 8 

Health Care and Social Assistance 8 

Top 3 Industries by Dollar Amount

Manufacturing $20,939,839

Health Care and Social Assistance $13,078,476

Construction $8,554,046

Lender Participation

Small Lenders* (by Number of Transactions) 68.9%

Small Lenders (by Dollar Amount) 75.1%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 26

Arkansas

Allocation Amount: $13,227,911

Number of Loans/Investments 284

SSBCI Original Allocated Funds Expended $12,885,729

SSBCI Recycled Funds Expended $2,191,101

Total New Financing to Small Businesses $223,822,458

Leverage Ratio 17.37x

Transaction Size and Demographics

Median Principal Loan/Investment Size $30,000

Minimum Principal Loan/Investment Size $1,000

Maximum Principal Loan/Investment Size $12,490,000

LMI Census Tracts (by Number of Transactions) 43.0%

LMI Census Tracts (by Dollar Amount) 64.4%

Non-Metro Areas (by Number of Transactions) 12.7%

Non-Metro Areas (by Dollar Amount) 15.2%

Business Age and Size

Median Business Age at Loan/Investment 1

Median Business Size (FTEs) 2

Median Business Size (Annual Revenue) $25,000

Total Number of Jobs Created or Retained 1,776 

Jobs Created 1,409 

Jobs Retained 367 

Top 3 Industries by Number of Transactions

Professional, Scientific, and Technical Services 83 

Manufacturing 50 

Retail Trade 46 

Top 3 Industries by Dollar Amount

Retail Trade $99,417,101

Manufacturing $75,979,360

Professional, Scientific, and Technical Services $28,148,201

Lender Participation

Small Lenders* (by Number of Transactions) 47.9%

Small Lenders (by Dollar Amount) 30.7%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

California

Allocation Amount: $168,399,074

Number of Loans/Investments 10,286

SSBCI Original Allocated Funds Expended $139,805,884

SSBCI Recycled Funds Expended $10,810,456

Total New Financing to Small Businesses $1,051,906,582

Leverage Ratio 7.52x

Transaction Size and Demographics

Median Principal Loan/Investment Size $12,000

Minimum Principal Loan/Investment Size $500

Maximum Principal Loan/Investment Size $10,000,000

LMI Census Tracts (by Number of Transactions) 50.3%

LMI Census Tracts (by Dollar Amount) 39.8%

Non-Metro Areas (by Number of Transactions) 0.9%

Non-Metro Areas (by Dollar Amount) 0.8%

Business Age and Size

Median Business Age at Loan/Investment 5

Median Business Size (FTEs) 2

Median Business Size (Annual Revenue) $144,000

Total Number of Jobs Created or Retained 92,533 

Jobs Created 14,233 

Jobs Retained 78,300 

Top 3 Industries by Number of Transactions

Retail Trade 2,262 

Accommodation and Food Services 1,465 

Transportation and Warehousing 1,299 

Top 3 Industries by Dollar Amount

Accommodation and Food Services $135,432,512

Manufacturing $133,870,804

Retail Trade $120,891,706

Lender Participation

Small Lenders* (by Number of Transactions) 93.2%

Small Lenders (by Dollar Amount) 64.6%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 27

Colorado

Allocation Amount: $17,311,437

Number of Loans/Investments 219

SSBCI Original Allocated Funds Expended $17,234,247

SSBCI Recycled Funds Expended $3,858,552

Total New Financing to Small Businesses $135,061,244

Leverage Ratio 7.84x

Transaction Size and Demographics

Median Principal Loan/Investment Size $170,000

Minimum Principal Loan/Investment Size $2,500

Maximum Principal Loan/Investment Size $11,300,000

LMI Census Tracts (by Number of Transactions) 43.8%

LMI Census Tracts (by Dollar Amount) 37.5%

Non-Metro Areas (by Number of Transactions) 41.6%

Non-Metro Areas (by Dollar Amount) 19.1%

Business Age and Size

Median Business Age at Loan/Investment 4

Median Business Size (FTEs) 2

Median Business Size (Annual Revenue) $240,386

Total Number of Jobs Created or Retained 1,471 

Jobs Created 989 

Jobs Retained 482 

Top 3 Industries by Number of Transactions

Accommodation and Food Services 41 

Health Care and Social Assistance 31 

Retail Trade 26 

Top 3 Industries by Dollar Amount

Health Care and Social Assistance $31,019,500

Arts, Entertainment, and Recreation $15,869,232

Manufacturing $14,979,348

Lender Participation

Small Lenders* (by Number of Transactions) 78.5%

Small Lenders (by Dollar Amount) 47.4%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Connecticut 

Allocation Amount: $13,361,288

Number of Loans/Investments 19

SSBCI Original Allocated Funds Expended $11,801,125

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $72,775,738

Leverage Ratio 6.17x

Transaction Size and Demographics

Median Principal Loan/Investment Size $1,775,850

Minimum Principal Loan/Investment Size $250,009

Maximum Principal Loan/Investment Size $10,000,000

LMI Census Tracts (by Number of Transactions) 36.8%

LMI Census Tracts (by Dollar Amount) 23.7%

Non-Metro Areas (by Number of Transactions) 0.0%

Non-Metro Areas (by Dollar Amount) 0.0%

Business Age and Size

Median Business Age at Loan/Investment 5

Median Business Size (FTEs) 5

Median Business Size (Annual Revenue) $0

Total Number of Jobs Created or Retained 271 

Jobs Created 96 

Jobs Retained 175 

Top 3 Industries by Number of Transactions

Manufacturing 6 

Professional, Scientific, and Technical Services 4 

Wholesale Trade 3 

Information 3 

Top 3 Industries by Dollar Amount

Wholesale Trade $25,416,800

Manufacturing $15,120,250

Information $11,754,314

Lender Participation

Small Lenders* (by Number of Transactions) 0.0%

Small Lenders (by Dollar Amount) 0.0%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 28

Delaware

Allocation Amount: $13,227,911

Number of Loans/Investments 127

SSBCI Original Allocated Funds Expended $9,234,130

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $63,023,122

Leverage Ratio 6.83x

Transaction Size and Demographics

Median Principal Loan/Investment Size $61,900

Minimum Principal Loan/Investment Size $7,000

Maximum Principal Loan/Investment Size $20,000,000

LMI Census Tracts (by Number of Transactions) 28.3%

LMI Census Tracts (by Dollar Amount) 24.7%

Non-Metro Areas (by Number of Transactions) 29.1%

Non-Metro Areas (by Dollar Amount) 59.3%

Business Age and Size

Median Business Age at Loan/Investment 3

Median Business Size (FTEs) 3

Median Business Size (Annual Revenue) $176,418

Total Number of Jobs Created or Retained 1,606 

Jobs Created 569 

Jobs Retained 1,037 

Top 3 Industries by Number of Transactions

Accommodation and Food Services 24 

Retail Trade 18 

Health Care and Social Assistance 13 

Top 3 Industries by Dollar Amount

Accommodation and Food Services $27,608,843

Manufacturing $6,055,225

Finance and Insurance $5,652,650

Lender Participation

Small Lenders* (by Number of Transactions) 53.5%

Small Lenders (by Dollar Amount) 22.1%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

District of Columbia

Allocation Amount: $13,227,911

Number of Loans/Investments 33

SSBCI Original Allocated Funds Expended $8,910,279

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $20,268,500

Leverage Ratio 2.27x

Transaction Size and Demographics

Median Principal Loan/Investment Size $500,000

Minimum Principal Loan/Investment Size $25,000

Maximum Principal Loan/Investment Size $2,500,000

LMI Census Tracts (by Number of Transactions) 45.5%

LMI Census Tracts (by Dollar Amount) 58.3%

Non-Metro Areas (by Number of Transactions) 0.0%

Non-Metro Areas (by Dollar Amount) 0.0%

Business Age and Size

Median Business Age at Loan/Investment 7

Median Business Size (FTEs) 9

Median Business Size (Annual Revenue) $2,169,234

Total Number of Jobs Created or Retained 791 

Jobs Created 165 

Jobs Retained 626 

Top 3 Industries by Number of Transactions

Construction 8 

Accommodation and Food Services 6 

Other Services (except Public Administration) 4 

Manufacturing 4 

Top 3 Industries by Dollar Amount

Construction $8,456,500

Utilities $3,100,000

Other Services (except Public Administration) $2,790,000

Lender Participation

Small Lenders* (by Number of Transactions) 84.8%

Small Lenders (by Dollar Amount) 86.5%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 29

Florida

Allocation Amount: $98,104,081

Number of Loans/Investments 278

SSBCI Original Allocated Funds Expended $76,229,668

SSBCI Recycled Funds Expended $32,914,972

Total New Financing to Small Businesses $389,390,741

Leverage Ratio 5.11x

Transaction Size and Demographics

Median Principal Loan/Investment Size $300,750

Minimum Principal Loan/Investment Size $2,500

Maximum Principal Loan/Investment Size $17,629,650

LMI Census Tracts (by Number of Transactions) 41.0%

LMI Census Tracts (by Dollar Amount) 36.5%

Non-Metro Areas (by Number of Transactions) 2.9%

Non-Metro Areas (by Dollar Amount) 4.0%

Business Age and Size

Median Business Age at Loan/Investment 4

Median Business Size (FTEs) 4

Median Business Size (Annual Revenue) $222,588

Total Number of Jobs Created or Retained 4,373 

Jobs Created 3,300 

Jobs Retained 1,073 

Top 3 Industries by Number of Transactions

Information 35 

Manufacturing 34 

Accommodation and Food Services 27 

Top 3 Industries by Dollar Amount

Accommodation and Food Services $91,175,292

Information $80,375,536

Manufacturing $60,319,728

Lender Participation

Small Lenders* (by Number of Transactions) 60.8%

Small Lenders (by Dollar Amount) 36.6%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Georgia 

Allocation Amount: $48,024,748

Number of Loans/Investments 499

SSBCI Original Allocated Funds Expended $43,172,047

SSBCI Recycled Funds Expended $4,521,550

Total New Financing to Small Businesses $276,185,161

Leverage Ratio 6.40x

Transaction Size and Demographics

Median Principal Loan/Investment Size $200,000

Minimum Principal Loan/Investment Size $5,000

Maximum Principal Loan/Investment Size $13,200,000

LMI Census Tracts (by Number of Transactions) 33.5%

LMI Census Tracts (by Dollar Amount) 34.5%

Non-Metro Areas (by Number of Transactions) 10.4%

Non-Metro Areas (by Dollar Amount) 14.6%

Business Age and Size

Median Business Age at Loan/Investment 5

Median Business Size (FTEs) 4

Median Business Size (Annual Revenue) $150,000

Total Number of Jobs Created or Retained 4,027 

Jobs Created 2,200 

Jobs Retained 1,827 

Top 3 Industries by Number of Transactions

Professional, Scientific, and Technical Services 143 

Construction 68 

Manufacturing 62 

Top 3 Industries by Dollar Amount

Accommodation and Food Services $77,392,278

Professional, Scientific, and Technical Services $29,156,768

Real Estate and Rental and Leasing $26,563,439

Lender Participation

Small Lenders* (by Number of Transactions) 97.2%

Small Lenders (by Dollar Amount) 96.0%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 30

Hawaii

Allocation Amount: $13,227,911

Number of Loans/Investments 120

SSBCI Original Allocated Funds Expended $5,476,683

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $181,849,084

Leverage Ratio 33.20x

Transaction Size and Demographics

Median Principal Loan/Investment Size $25,000

Minimum Principal Loan/Investment Size $10,000

Maximum Principal Loan/Investment Size $15,000,000

LMI Census Tracts (by Number of Transactions) 28.3%

LMI Census Tracts (by Dollar Amount) 25.1%

Non-Metro Areas (by Number of Transactions) 10.0%

Non-Metro Areas (by Dollar Amount) 3.2%

Business Age and Size

Median Business Age at Loan/Investment 0

Median Business Size (FTEs) 3

Median Business Size (Annual Revenue) $0

Total Number of Jobs Created or Retained 678 

Jobs Created 159 

Jobs Retained 520 

Top 3 Industries by Number of Transactions

Information 76 

Professional, Scientific, and Technical Services 10 

Manufacturing 9 

Top 3 Industries by Dollar Amount

Information $57,351,974

Professional, Scientific, and Technical Services $50,529,919

Manufacturing $27,114,800

Lender Participation

Small Lenders* (by Number of Transactions) 0.0%

Small Lenders (by Dollar Amount) 0.0%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Idaho

Allocation Amount: $13,195,667

Number of Loans/Investments 315

SSBCI Original Allocated Funds Expended $13,136,543

SSBCI Recycled Funds Expended $10,559,488

Total New Financing to Small Businesses $208,186,678

Leverage Ratio 15.85x

Transaction Size and Demographics

Median Principal Loan/Investment Size $350,000

Minimum Principal Loan/Investment Size $4,765

Maximum Principal Loan/Investment Size $5,000,000

LMI Census Tracts (by Number of Transactions) 26.7%

LMI Census Tracts (by Dollar Amount) 28.9%

Non-Metro Areas (by Number of Transactions) 30.5%

Non-Metro Areas (by Dollar Amount) 27.7%

Business Age and Size

Median Business Age at Loan/Investment 6

Median Business Size (FTEs) 8

Median Business Size (Annual Revenue) $969,169

Total Number of Jobs Created or Retained 3,081 

Jobs Created 1,051 

Jobs Retained 2,030 

Top 3 Industries by Number of Transactions

Health Care and Social Assistance 56 

Retail Trade 42 

Manufacturing 42 

Top 3 Industries by Dollar Amount

Health Care and Social Assistance $46,408,816

Manufacturing $34,400,292

Retail Trade $24,676,978

Lender Participation

Small Lenders* (by Number of Transactions) 56.8%

Small Lenders (by Dollar Amount) 44.6%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 31

Illinois

Allocation Amount: $78,719,715

Number of Loans/Investments 240

SSBCI Original Allocated Funds Expended $70,374,955

SSBCI Recycled Funds Expended $4,450,000

Total New Financing to Small Businesses $663,822,904

Leverage Ratio 9.43x

Transaction Size and Demographics

Median Principal Loan/Investment Size $488,955

Minimum Principal Loan/Investment Size $7,500

Maximum Principal Loan/Investment Size $12,728,800

LMI Census Tracts (by Number of Transactions) 32.9%

LMI Census Tracts (by Dollar Amount) 44.5%

Non-Metro Areas (by Number of Transactions) 13.3%

Non-Metro Areas (by Dollar Amount) 7.5%

Business Age and Size

Median Business Age at Loan/Investment 6

Median Business Size (FTEs) 10

Median Business Size (Annual Revenue) $1,066,995

Total Number of Jobs Created or Retained 4,427 

Jobs Created 2,957 

Jobs Retained 1,470 

Top 3 Industries by Number of Transactions

Manufacturing 73 

Accommodation and Food Services 28 

Professional, Scientific, and Technical Services 26 

Top 3 Industries by Dollar Amount

Manufacturing $267,316,649

Wholesale Trade $126,301,007

Professional, Scientific, and Technical Services $61,837,773

Lender Participation

Small Lenders* (by Number of Transactions) 77.1%

Small Lenders (by Dollar Amount) 53.2%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Indiana 

Allocation Amount: $34,494,392

Number of Loans/Investments 241

SSBCI Original Allocated Funds Expended $20,238,651

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $67,902,490

Leverage Ratio 3.36x

Transaction Size and Demographics

Median Principal Loan/Investment Size $100,000

Minimum Principal Loan/Investment Size $3,000

Maximum Principal Loan/Investment Size $5,136,000

LMI Census Tracts (by Number of Transactions) 30.7%

LMI Census Tracts (by Dollar Amount) 18.8%

Non-Metro Areas (by Number of Transactions) 7.1%

Non-Metro Areas (by Dollar Amount) 7.1%

Business Age and Size

Median Business Age at Loan/Investment 4

Median Business Size (FTEs) 5

Median Business Size (Annual Revenue) $349,000

Total Number of Jobs Created or Retained 1,294 

Jobs Created 613 

Jobs Retained 681 

Top 3 Industries by Number of Transactions

Retail Trade 43 

Professional, Scientific, and Technical Services 30 

Construction 29 

Top 3 Industries by Dollar Amount

Professional, Scientific, and Technical Services $13,961,836

Information $11,235,109

Manufacturing $10,709,720

Lender Participation

Small Lenders* (by Number of Transactions) 44.0%

Small Lenders (by Dollar Amount) 10.5%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 32

Iowa

Allocation Amount: $13,123,161

Number of Loans/Investments 45

SSBCI Original Allocated Funds Expended $8,398,788

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $45,866,763

Leverage Ratio 5.46x

Transaction Size and Demographics

Median Principal Loan/Investment Size $200,000

Minimum Principal Loan/Investment Size $6,000

Maximum Principal Loan/Investment Size $2,000,000

LMI Census Tracts (by Number of Transactions) 26.7%

LMI Census Tracts (by Dollar Amount) 6.3%

Non-Metro Areas (by Number of Transactions) 15.6%

Non-Metro Areas (by Dollar Amount) 2.2%

Business Age and Size

Median Business Age at Loan/Investment 2

Median Business Size (FTEs) 4

Median Business Size (Annual Revenue) $64,125

Total Number of Jobs Created or Retained 506 

Jobs Created 303 

Jobs Retained 204 

Top 3 Industries by Number of Transactions

Manufacturing 10 

Information 9 

Professional, Scientific, and Technical Services 8 

Top 3 Industries by Dollar Amount

Manufacturing $34,709,300

Professional, Scientific, and Technical Services $4,788,650

Information $3,959,100

Lender Participation

Small Lenders* (by Number of Transactions) 37.8%

Small Lenders (by Dollar Amount) 1.4%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Kansas 

Allocation Amount: $13,227,911

Number of Loans/Investments 92

SSBCI Original Allocated Funds Expended $12,770,943

SSBCI Recycled Funds Expended $1,255,243

Total New Financing to Small Businesses $231,571,176

Leverage Ratio 18.13x

Transaction Size and Demographics

Median Principal Loan/Investment Size $1,605,500

Minimum Principal Loan/Investment Size $154,000

Maximum Principal Loan/Investment Size $12,852,843

LMI Census Tracts (by Number of Transactions) 35.9%

LMI Census Tracts (by Dollar Amount) 41.9%

Non-Metro Areas (by Number of Transactions) 35.9%

Non-Metro Areas (by Dollar Amount) 41.8%

Business Age and Size

Median Business Age at Loan/Investment 3

Median Business Size (FTEs) 7

Median Business Size (Annual Revenue) $237,688

Total Number of Jobs Created or Retained 1,769 

Jobs Created 1,248 

Jobs Retained 521 

Top 3 Industries by Number of Transactions

Manufacturing 25 

Accommodation and Food Services 17 

Professional, Scientific, and Technical Services 9 

Top 3 Industries by Dollar Amount

Manufacturing $56,771,917

Accommodation and Food Services $52,844,713

Agriculture, Forestry, Fishing and Hunting $30,685,569

Lender Participation

Small Lenders* (by Number of Transactions) 57.6%

Small Lenders (by Dollar Amount) 49.4%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 33

Kentucky

Allocation Amount: $15,558,051

Number of Loans/Investments 161

SSBCI Original Allocated Funds Expended $14,707,486

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $122,151,772

Leverage Ratio 8.31x

Transaction Size and Demographics

Median Principal Loan/Investment Size $262,000

Minimum Principal Loan/Investment Size $25,000

Maximum Principal Loan/Investment Size $6,100,000

LMI Census Tracts (by Number of Transactions) 44.1%

LMI Census Tracts (by Dollar Amount) 51.3%

Non-Metro Areas (by Number of Transactions) 46.0%

Non-Metro Areas (by Dollar Amount) 50.4%

Business Age and Size

Median Business Age at Loan/Investment 5

Median Business Size (FTEs) 5

Median Business Size (Annual Revenue) $365,802

Total Number of Jobs Created or Retained 2,420 

Jobs Created 1,122 

Jobs Retained 1,298 

Top 3 Industries by Number of Transactions

Manufacturing 24 

Accommodation and Food Services 22 

Retail Trade 19 

Health Care and Social Assistance 19 

Top 3 Industries by Dollar Amount

Manufacturing $38,486,408

Accommodation and Food Services $22,387,063

Health Care and Social Assistance $11,558,809

Lender Participation

Small Lenders* (by Number of Transactions) 72.7%

Small Lenders (by Dollar Amount) 69.7%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Louisiana 

Allocation Amount: $12,414,995

Number of Loans/Investments 85

SSBCI Original Allocated Funds Expended $8,822,637

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $55,645,857

Leverage Ratio 6.31x

Transaction Size and Demographics

Median Principal Loan/Investment Size $365,000

Minimum Principal Loan/Investment Size $25,000

Maximum Principal Loan/Investment Size $5,300,000

LMI Census Tracts (by Number of Transactions) 18.8%

LMI Census Tracts (by Dollar Amount) 16.6%

Non-Metro Areas (by Number of Transactions) 8.2%

Non-Metro Areas (by Dollar Amount) 14.8%

Business Age and Size

Median Business Age at Loan/Investment 2

Median Business Size (FTEs) 4

Median Business Size (Annual Revenue) $0

Total Number of Jobs Created or Retained 1,717 

Jobs Created 918 

Jobs Retained 800 

Top 3 Industries by Number of Transactions

Manufacturing 17 

Information 15 

Professional, Scientific, and Technical Services 13 

Top 3 Industries by Dollar Amount

Manufacturing $12,730,674

Information $9,836,050

Accommodation and Food Services $6,966,000

Lender Participation

Small Lenders* (by Number of Transactions) 38.8%

Small Lenders (by Dollar Amount) 35.3%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 34

Maine

Allocation Amount: $13,227,911

Number of Loans/Investments 74

SSBCI Original Allocated Funds Expended $8,323,874

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $57,357,394

Leverage Ratio 6.89x

Transaction Size and Demographics

Median Principal Loan/Investment Size $448,000

Minimum Principal Loan/Investment Size $73,774

Maximum Principal Loan/Investment Size $9,757,950

LMI Census Tracts (by Number of Transactions) 25.7%

LMI Census Tracts (by Dollar Amount) 31.2%

Non-Metro Areas (by Number of Transactions) 27.0%

Non-Metro Areas (by Dollar Amount) 19.5%

Business Age and Size

Median Business Age at Loan/Investment 3

Median Business Size (FTEs) 6

Median Business Size (Annual Revenue) $365,000

Total Number of Jobs Created or Retained 1,026 

Jobs Created 334 

Jobs Retained 692 

Top 3 Industries by Number of Transactions

Manufacturing 11 

Professional, Scientific, and Technical Services 11 

Retail Trade 9 

Top 3 Industries by Dollar Amount

Accommodation and Food Services $12,908,218

Manufacturing $12,687,230

Professional, Scientific, and Technical Services $7,208,372

Lender Participation

Small Lenders* (by Number of Transactions) 64.9%

Small Lenders (by Dollar Amount) 69.1%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Maryland

Allocation Amount: $23,025,709

Number of Loans/Investments 55

SSBCI Original Allocated Funds Expended $14,125,270

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $405,245,372

Leverage Ratio 28.69x

Transaction Size and Demographics

Median Principal Loan/Investment Size $1,070,000

Minimum Principal Loan/Investment Size $52,000

Maximum Principal Loan/Investment Size $18,000,000

LMI Census Tracts (by Number of Transactions) 27.3%

LMI Census Tracts (by Dollar Amount) 39.4%

Non-Metro Areas (by Number of Transactions) 0.0%

Non-Metro Areas (by Dollar Amount) 0.0%

Business Age and Size

Median Business Age at Loan/Investment 6

Median Business Size (FTEs) 15

Median Business Size (Annual Revenue) $556,972

Total Number of Jobs Created or Retained 2,251 

Jobs Created 1,073 

Jobs Retained 1,178 

Top 3 Industries by Number of Transactions

Professional, Scientific, and Technical Services 17 

Information 13 

Manufacturing 9 

Top 3 Industries by Dollar Amount

Professional, Scientific, and Technical Services $206,406,076

Information $120,726,191

Retail Trade $27,062,000

Lender Participation

Small Lenders* (by Number of Transactions) 29.1%

Small Lenders (by Dollar Amount) 4.0%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 35

Massachusetts

Allocation Amount: $20,514,536

Number of Loans/Investments 1,015

SSBCI Original Allocated Funds Expended $20,514,536

SSBCI Recycled Funds Expended $4,428,770

Total New Financing to Small Businesses $132,907,299

Leverage Ratio 6.48x

Transaction Size and Demographics

Median Principal Loan/Investment Size $25,000

Minimum Principal Loan/Investment Size $1,000

Maximum Principal Loan/Investment Size $3,540,000

LMI Census Tracts (by Number of Transactions) 25.4%

LMI Census Tracts (by Dollar Amount) 29.2%

Non-Metro Areas (by Number of Transactions) 2.5%

Non-Metro Areas (by Dollar Amount) 3.8%

Business Age and Size

Median Business Age at Loan/Investment 6

Median Business Size (FTEs) 4

Median Business Size (Annual Revenue) $450,000

Total Number of Jobs Created or Retained 11,953 

Jobs Created 1,295 

Jobs Retained 10,658 

Top 3 Industries by Number of Transactions

Retail Trade 183 

Construction 129 

Other Services (except Public Administration) 101 

Top 3 Industries by Dollar Amount

Wholesale Trade $31,938,531

Retail Trade $21,619,729

Manufacturing $15,496,437

Lender Participation

Small Lenders* (by Number of Transactions) 69.0%

Small Lenders (by Dollar Amount) 87.7%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Michigan

Allocation Amount: $79,515,777

Number of Loans/Investments 962

SSBCI Original Allocated Funds Expended $75,284,959

SSBCI Recycled Funds Expended $26,688,202

Total New Financing to Small Businesses $525,259,498

Leverage Ratio 6.98x

Transaction Size and Demographics

Median Principal Loan/Investment Size $50,000

Minimum Principal Loan/Investment Size $2,000

Maximum Principal Loan/Investment Size $20,000,000

LMI Census Tracts (by Number of Transactions) 33.6%

LMI Census Tracts (by Dollar Amount) 38.2%

Non-Metro Areas (by Number of Transactions) 40.2%

Non-Metro Areas (by Dollar Amount) 32.8%

Business Age and Size

Median Business Age at Loan/Investment 5

Median Business Size (FTEs) 4

Median Business Size (Annual Revenue) $300,000

Total Number of Jobs Created or Retained 11,216 

Jobs Created 6,498 

Jobs Retained 4,718 

Top 3 Industries by Number of Transactions

Manufacturing 193 

Retail Trade 118 

Transportation and Warehousing 98 

Top 3 Industries by Dollar Amount

Manufacturing $326,902,830

Wholesale Trade $35,783,016

Retail Trade $27,753,940

Lender Participation

Small Lenders* (by Number of Transactions) 40.0%

Small Lenders (by Dollar Amount) 28.5%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 36

Minnesota

Allocation Amount: $15,533,123

Number of Loans/Investments 292

SSBCI Original Allocated Funds Expended $11,886,737

SSBCI Recycled Funds Expended $543,943

Total New Financing to Small Businesses $174,918,405

Leverage Ratio 14.72x

Transaction Size and Demographics

Median Principal Loan/Investment Size $43,000

Minimum Principal Loan/Investment Size $1,800

Maximum Principal Loan/Investment Size $3,750,000

LMI Census Tracts (by Number of Transactions) 50.3%

LMI Census Tracts (by Dollar Amount) 39.9%

Non-Metro Areas (by Number of Transactions) 16.4%

Non-Metro Areas (by Dollar Amount) 24.8%

Business Age and Size

Median Business Age at Loan/Investment 4

Median Business Size (FTEs) 2

Median Business Size (Annual Revenue) $147,043

Total Number of Jobs Created or Retained 3,838 

Jobs Created 1,302 

Jobs Retained 2,537 

Top 3 Industries by Number of Transactions

Manufacturing 51 

Accommodation and Food Services 47 

Construction 39 

Top 3 Industries by Dollar Amount

Manufacturing $60,450,396

Accommodation and Food Services $33,461,577

Professional, Scientific, and Technical Services $15,547,699

Lender Participation

Small Lenders* (by Number of Transactions) 92.1%

Small Lenders (by Dollar Amount) 76.5%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Mississippi

Allocation Amount: $13,227,911

Number of Loans/Investments 119

SSBCI Original Allocated Funds Expended $11,757,651

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $85,139,656

Leverage Ratio 7.24x

Transaction Size and Demographics

Median Principal Loan/Investment Size $459,135

Minimum Principal Loan/Investment Size $50,000

Maximum Principal Loan/Investment Size $6,000,000

LMI Census Tracts (by Number of Transactions) 27.7%

LMI Census Tracts (by Dollar Amount) 24.8%

Non-Metro Areas (by Number of Transactions) 47.1%

Non-Metro Areas (by Dollar Amount) 59.6%

Business Age and Size

Median Business Age at Loan/Investment 1

Median Business Size (FTEs) 2

Median Business Size (Annual Revenue) $0

Total Number of Jobs Created or Retained 1,008 

Jobs Created 796 

Jobs Retained 212 

Top 3 Industries by Number of Transactions

Agriculture, Forestry, Fishing and Hunting 40 

Retail Trade 18 

Manufacturing 16 

Top 3 Industries by Dollar Amount

Agriculture, Forestry, Fishing and Hunting $28,152,374

Manufacturing $22,200,102

Information $9,585,043

Lender Participation

Small Lenders* (by Number of Transactions) 82.4%

Small Lenders (by Dollar Amount) 77.7%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 37

Missouri

Allocation Amount: $27,052,101

Number of Loans/Investments 93

SSBCI Original Allocated Funds Expended $23,786,980

SSBCI Recycled Funds Expended $284,101

Total New Financing to Small Businesses $373,845,177

Leverage Ratio 15.72x

Transaction Size and Demographics

Median Principal Loan/Investment Size $500,000

Minimum Principal Loan/Investment Size $37,718

Maximum Principal Loan/Investment Size $8,158,170

LMI Census Tracts (by Number of Transactions) 47.3%

LMI Census Tracts (by Dollar Amount) 35.3%

Non-Metro Areas (by Number of Transactions) 2.2%

Non-Metro Areas (by Dollar Amount) 0.6%

Business Age and Size

Median Business Age at Loan/Investment 3

Median Business Size (FTEs) 2

Median Business Size (Annual Revenue) $0

Total Number of Jobs Created or Retained 1,612 

Jobs Created 1,248 

Jobs Retained 364 

Top 3 Industries by Number of Transactions

Professional, Scientific, and Technical Services 50 

Manufacturing 27 

Information 10 

Top 3 Industries by Dollar Amount

Manufacturing $136,461,105

Information $126,612,953

Professional, Scientific, and Technical Services $103,928,857

Lender Participation

Small Lenders* (by Number of Transactions) 2.2%

Small Lenders (by Dollar Amount) 2.5%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Montana

Allocation Amount: $12,819,143

Number of Loans/Investments 50

SSBCI Original Allocated Funds Expended $12,769,806

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $120,918,506

Leverage Ratio 9.47x

Transaction Size and Demographics

Median Principal Loan/Investment Size $445,636

Minimum Principal Loan/Investment Size $150,000

Maximum Principal Loan/Investment Size $999,900

LMI Census Tracts (by Number of Transactions) 30.0%

LMI Census Tracts (by Dollar Amount) 33.4%

Non-Metro Areas (by Number of Transactions) 56.0%

Non-Metro Areas (by Dollar Amount) 35.5%

Business Age and Size

Median Business Age at Loan/Investment 11

Median Business Size (FTEs) 10

Median Business Size (Annual Revenue) $1,606,500

Total Number of Jobs Created or Retained 1,010 

Jobs Created 825 

Jobs Retained 185 

Top 3 Industries by Number of Transactions

Retail Trade 10 

Health Care and Social Assistance 8 

Construction 7 

Manufacturing 7 

Top 3 Industries by Dollar Amount

Accommodation and Food Services $34,933,164

Manufacturing $34,118,447

Retail Trade $33,569,486

Lender Participation

Small Lenders* (by Number of Transactions) 66.0%

Small Lenders (by Dollar Amount) 65.9%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 38

Nebraska

Allocation Amount: $13,168,350

Number of Loans/Investments 54

SSBCI Original Allocated Funds Expended $12,435,104

SSBCI Recycled Funds Expended $1,513,156

Total New Financing to Small Businesses $90,644,327

Leverage Ratio 7.29x

Transaction Size and Demographics

Median Principal Loan/Investment Size $300,000

Minimum Principal Loan/Investment Size $20,000

Maximum Principal Loan/Investment Size $7,500,000

LMI Census Tracts (by Number of Transactions) 53.7%

LMI Census Tracts (by Dollar Amount) 30.0%

Non-Metro Areas (by Number of Transactions) 29.6%

Non-Metro Areas (by Dollar Amount) 75.3%

Business Age and Size

Median Business Age at Loan/Investment 0

Median Business Size (FTEs) 3

Median Business Size (Annual Revenue) $0

Total Number of Jobs Created or Retained 547 

Jobs Created 352 

Jobs Retained 195 

Top 3 Industries by Number of Transactions

Professional, Scientific, and Technical Services 24 

Manufacturing 15 

Information 6 

Top 3 Industries by Dollar Amount

Manufacturing $59,459,154

Professional, Scientific, and Technical Services $9,923,363

Transportation and Warehousing $8,521,000

Lender Participation

Small Lenders* (by Number of Transactions) 24.1%

Small Lenders (by Dollar Amount) 55.1%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Nevada

Allocation Amount: $13,793,599

Number of Loans/Investments 22

SSBCI Original Allocated Funds Expended $9,037,468

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $38,925,560

Leverage Ratio 4.31x

Transaction Size and Demographics

Median Principal Loan/Investment Size $1,178,150

Minimum Principal Loan/Investment Size $40,000

Maximum Principal Loan/Investment Size $5,167,000

LMI Census Tracts (by Number of Transactions) 31.8%

LMI Census Tracts (by Dollar Amount) 21.6%

Non-Metro Areas (by Number of Transactions) 4.5%

Non-Metro Areas (by Dollar Amount) 15.6%

Business Age and Size

Median Business Age at Loan/Investment 2

Median Business Size (FTEs) 8

Median Business Size (Annual Revenue) $617,761

Total Number of Jobs Created or Retained 784 

Jobs Created 483 

Jobs Retained 301 

Top 3 Industries by Number of Transactions

Administrative and Support and Waste Management 

and Remediation Services 4 

Professional, Scientific, and Technical Services 3 

Retail Trade 3 

Health Care and Social Assistance 3 

Top 3 Industries by Dollar Amount

Health Care and Social Assistance $9,679,000

Accommodation and Food Services $6,082,000

Professional, Scientific, and Technical Services $6,070,000

Lender Participation

Small Lenders* (by Number of Transactions) 68.2%

Small Lenders (by Dollar Amount) 59.6%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 39

New Hampshire

Allocation Amount: $13,168,350

Number of Loans/Investments 350

SSBCI Original Allocated Funds Expended $12,654,720

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $176,931,335

Leverage Ratio 13.98x

Transaction Size and Demographics

Median Principal Loan/Investment Size $39,821

Minimum Principal Loan/Investment Size $1,150

Maximum Principal Loan/Investment Size $17,100,000

LMI Census Tracts (by Number of Transactions) 36.6%

LMI Census Tracts (by Dollar Amount) 25.7%

Non-Metro Areas (by Number of Transactions) 55.7%

Non-Metro Areas (by Dollar Amount) 32.8%

Business Age and Size

Median Business Age at Loan/Investment 6

Median Business Size (FTEs) 3

Median Business Size (Annual Revenue) $291,590

Total Number of Jobs Created or Retained 4,792 

Jobs Created 761 

Jobs Retained 4,031 

Top 3 Industries by Number of Transactions

Construction 47 

Accommodation and Food Services 46 

Manufacturing 36 

Top 3 Industries by Dollar Amount

Manufacturing $57,204,710

Professional, Scientific, and Technical Services $46,720,119

Transportation and Warehousing $18,123,675

Lender Participation

Small Lenders* (by Number of Transactions) 60.0%

Small Lenders (by Dollar Amount) 39.2%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

New Jersey

Allocation Amount: $33,895,151

Number of Loans/Investments 73

SSBCI Original Allocated Funds Expended $25,271,865

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $123,606,054

Leverage Ratio 4.89x

Transaction Size and Demographics

Median Principal Loan/Investment Size $499,994

Minimum Principal Loan/Investment Size $50,000

Maximum Principal Loan/Investment Size $8,310,000

LMI Census Tracts (by Number of Transactions) 16.4%

LMI Census Tracts (by Dollar Amount) 20.5%

Non-Metro Areas (by Number of Transactions) 0.0%

Non-Metro Areas (by Dollar Amount) 0.0%

Business Age and Size

Median Business Age at Loan/Investment 3

Median Business Size (FTEs) 17

Median Business Size (Annual Revenue) $959,000

Total Number of Jobs Created or Retained 2,125 

Jobs Created 961 

Jobs Retained 1,164 

Top 3 Industries by Number of Transactions

Information 29 

Real Estate and Rental and Leasing 9 

Professional, Scientific, and Technical Services 8 

Top 3 Industries by Dollar Amount

Information $42,681,346

Professional, Scientific, and Technical Services $24,469,908

Manufacturing $17,040,000

Lender Participation

Small Lenders* (by Number of Transactions) 8.2%

Small Lenders (by Dollar Amount) 4.4%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 40

New Mexico

Allocation Amount: $13,227,911

Number of Loans/Investments 17

SSBCI Original Allocated Funds Expended $8,099,671

SSBCI Recycled Funds Expended $385,072

Total New Financing to Small Businesses $51,794,930

Leverage Ratio 6.39x

Transaction Size and Demographics

Median Principal Loan/Investment Size $1,440,502

Minimum Principal Loan/Investment Size $200,000

Maximum Principal Loan/Investment Size $7,397,000

LMI Census Tracts (by Number of Transactions) 35.3%

LMI Census Tracts (by Dollar Amount) 28.8%

Non-Metro Areas (by Number of Transactions) 17.6%

Non-Metro Areas (by Dollar Amount) 27.2%

Business Age and Size

Median Business Age at Loan/Investment 7

Median Business Size (FTEs) 5

Median Business Size (Annual Revenue) $548,307

Total Number of Jobs Created or Retained 225 

Jobs Created 212 

Jobs Retained 13 

Top 3 Industries by Number of Transactions

Health Care and Social Assistance 5 

Accommodation and Food Services 3 

Other Services (except Public Administration) 2 

Wholesale Trade 2 

Manufacturing 2 

Top 3 Industries by Dollar Amount

Accommodation and Food Services $19,252,000

Wholesale Trade $14,693,924

Health Care and Social Assistance $12,320,356

Lender Participation

Small Lenders* (by Number of Transactions) 29.4%

Small Lenders (by Dollar Amount) 36.9%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

New York

Allocation Amount: $55,601,892

Number of Loans/Investments 1,764

SSBCI Original Allocated Funds Expended $42,328,207

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $697,269,194

Leverage Ratio 16.47x

Transaction Size and Demographics

Median Principal Loan/Investment Size $15,525

Minimum Principal Loan/Investment Size $500

Maximum Principal Loan/Investment Size $12,000,000

LMI Census Tracts (by Number of Transactions) 60.7%

LMI Census Tracts (by Dollar Amount) 30.8%

Non-Metro Areas (by Number of Transactions) 1.1%

Non-Metro Areas (by Dollar Amount) 2.1%

Business Age and Size

Median Business Age at Loan/Investment 4

Median Business Size (FTEs) 1

Median Business Size (Annual Revenue) $58,451

Total Number of Jobs Created or Retained 8,208 

Jobs Created 3,085 

Jobs Retained 5,123 

Top 3 Industries by Number of Transactions

Other Services (except Public Administration) 365 

Retail Trade 274 

Transportation and Warehousing 206 

Top 3 Industries by Dollar Amount

Professional, Scientific, and Technical Services $187,081,068

Information $154,384,982

Manufacturing $135,609,191

Lender Participation

Small Lenders* (by Number of Transactions) 90.6%

Small Lenders (by Dollar Amount) 12.3%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 41

North Carolina

Allocation Amount: $46,269,657

Number of Loans/Investments 769

SSBCI Original Allocated Funds Expended $46,020,998

SSBCI Recycled Funds Expended $8,832,559

Total New Financing to Small Businesses $707,058,639

Leverage Ratio 15.36x

Transaction Size and Demographics

Median Principal Loan/Investment Size $165,000

Minimum Principal Loan/Investment Size $2,500

Maximum Principal Loan/Investment Size $20,000,000

LMI Census Tracts (by Number of Transactions) 18.9%

LMI Census Tracts (by Dollar Amount) 21.0%

Non-Metro Areas (by Number of Transactions) 13.5%

Non-Metro Areas (by Dollar Amount) 12.3%

Business Age and Size

Median Business Age at Loan/Investment 5

Median Business Size (FTEs) 5

Median Business Size (Annual Revenue) $433,000

Total Number of Jobs Created or Retained 12,524 

Jobs Created 3,733 

Jobs Retained 8,792 

Top 3 Industries by Number of Transactions

Health Care and Social Assistance 110 

Professional, Scientific, and Technical Services 105 

Manufacturing 88 

Top 3 Industries by Dollar Amount

Professional, Scientific, and Technical Services $218,146,647

Manufacturing $129,129,913

Retail Trade $63,289,691

Lender Participation

Small Lenders* (by Number of Transactions) 42.0%

Small Lenders (by Dollar Amount) 22.3%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Ohio

Allocation Amount: $55,358,150

Number of Loans/Investments 551

SSBCI Original Allocated Funds Expended $44,498,188

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $177,693,987

Leverage Ratio 3.99x

Transaction Size and Demographics

Median Principal Loan/Investment Size $100,000

Minimum Principal Loan/Investment Size $5,000

Maximum Principal Loan/Investment Size $5,000,000

LMI Census Tracts (by Number of Transactions) 26.7%

LMI Census Tracts (by Dollar Amount) 29.1%

Non-Metro Areas (by Number of Transactions) 14.2%

Non-Metro Areas (by Dollar Amount) 12.3%

Business Age and Size

Median Business Age at Loan/Investment 5

Median Business Size (FTEs) 4

Median Business Size (Annual Revenue) $305,000

Total Number of Jobs Created or Retained 8,245 

Jobs Created 3,380 

Jobs Retained 4,865 

Top 3 Industries by Number of Transactions

Accommodation and Food Services 88 

Retail Trade 61 

Manufacturing 61 

Top 3 Industries by Dollar Amount

Manufacturing $28,219,996

Accommodation and Food Services $24,735,302

Real Estate and Rental and Leasing $23,382,278

Lender Participation

Small Lenders* (by Number of Transactions) 41.9%

Small Lenders (by Dollar Amount) 34.5%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 42

Oklahoma

Allocation Amount: $13,227,911

Number of Loans/Investments 49

SSBCI Original Allocated Funds Expended $12,347,911

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $85,645,841

Leverage Ratio 6.94x

Transaction Size and Demographics

Median Principal Loan/Investment Size $633,717

Minimum Principal Loan/Investment Size $80,000

Maximum Principal Loan/Investment Size $3,000,000

LMI Census Tracts (by Number of Transactions) 81.6%

LMI Census Tracts (by Dollar Amount) 81.1%

Non-Metro Areas (by Number of Transactions) 6.1%

Non-Metro Areas (by Dollar Amount) 2.5%

Business Age and Size

Median Business Age at Loan/Investment 3

Median Business Size (FTEs) 3

Median Business Size (Annual Revenue) $37,948

Total Number of Jobs Created or Retained 796 

Jobs Created 743 

Jobs Retained 53 

Top 3 Industries by Number of Transactions

Professional, Scientific, and Technical Services 30 

Manufacturing 7 

Health Care and Social Assistance 5 

Top 3 Industries by Dollar Amount

Professional, Scientific, and Technical Services $65,985,654

Manufacturing $9,214,221

Information $4,877,000

Lender Participation

Small Lenders* (by Number of Transactions) 0.0%

Small Lenders (by Dollar Amount) 0.0%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Oregon

Allocation Amount: $16,590,901

Number of Loans/Investments 265

SSBCI Original Allocated Funds Expended $16,279,449

SSBCI Recycled Funds Expended $1,011,354

Total New Financing to Small Businesses $175,663,114

Leverage Ratio 10.79x

Transaction Size and Demographics

Median Principal Loan/Investment Size $185,000

Minimum Principal Loan/Investment Size $5,000

Maximum Principal Loan/Investment Size $5,914,000

LMI Census Tracts (by Number of Transactions) 34.3%

LMI Census Tracts (by Dollar Amount) 38.2%

Non-Metro Areas (by Number of Transactions) 25.3%

Non-Metro Areas (by Dollar Amount) 24.1%

Business Age and Size

Median Business Age at Loan/Investment 5

Median Business Size (FTEs) 7

Median Business Size (Annual Revenue) $724,583

Total Number of Jobs Created or Retained 1,696 

Jobs Created 887 

Jobs Retained 809 

Top 3 Industries by Number of Transactions

Manufacturing 66 

Construction 43 

Retail Trade 29 

Top 3 Industries by Dollar Amount

Manufacturing $88,193,593

Retail Trade $19,162,116

Construction $11,842,240

Lender Participation

Small Lenders* (by Number of Transactions) 51.7%

Small Lenders (by Dollar Amount) 54.5%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 43

Pennsylvania

Allocation Amount: $29,017,428

Number of Loans/Investments 189

SSBCI Original Allocated Funds Expended $18,612,869

SSBCI Recycled Funds Expended $1,065,101

Total New Financing to Small Businesses $241,311,321

Leverage Ratio 12.96x

Transaction Size and Demographics

Median Principal Loan/Investment Size $179,850

Minimum Principal Loan/Investment Size $1,000

Maximum Principal Loan/Investment Size $12,750,000

LMI Census Tracts (by Number of Transactions) 43.9%

LMI Census Tracts (by Dollar Amount) 26.5%

Non-Metro Areas (by Number of Transactions) 13.8%

Non-Metro Areas (by Dollar Amount) 7.1%

Business Age and Size

Median Business Age at Loan/Investment 3

Median Business Size (FTEs) 2

Median Business Size (Annual Revenue) $7,425

Total Number of Jobs Created or Retained 3,285 

Jobs Created 1,128 

Jobs Retained 2,157 

Top 3 Industries by Number of Transactions

Accommodation and Food Services 34 

Manufacturing 34 

Professional, Scientific, and Technical Services 29 

Top 3 Industries by Dollar Amount

Professional, Scientific, and Technical Services $80,124,624

Manufacturing $71,001,248

Accommodation and Food Services $21,662,843

Lender Participation

Small Lenders* (by Number of Transactions) 76.2%

Small Lenders (by Dollar Amount) 44.4%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Rhode Island

Allocation Amount: $13,168,350

Number of Loans/Investments 86

SSBCI Original Allocated Funds Expended $8,216,045

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $121,454,210

Leverage Ratio 14.78x

Transaction Size and Demographics

Median Principal Loan/Investment Size $70,545

Minimum Principal Loan/Investment Size $52,000

Maximum Principal Loan/Investment Size $11,500,000

LMI Census Tracts (by Number of Transactions) 66.3%

LMI Census Tracts (by Dollar Amount) 40.1%

Non-Metro Areas (by Number of Transactions) 0.0%

Non-Metro Areas (by Dollar Amount) 0.0%

Business Age and Size

Median Business Age at Loan/Investment 0

Median Business Size (FTEs) 2

Median Business Size (Annual Revenue) $0

Total Number of Jobs Created or Retained 490 

Jobs Created 135 

Jobs Retained 355 

Top 3 Industries by Number of Transactions

Information 26 

Professional, Scientific, and Technical Services 24 

Manufacturing 11 

Top 3 Industries by Dollar Amount

Professional, Scientific, and Technical Services $71,530,850

Manufacturing $24,139,203

Utilities $8,389,112

Lender Participation

Small Lenders* (by Number of Transactions) 0.0%

Small Lenders (by Dollar Amount) 0.0%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 44

South Carolina

Allocation Amount: $18,071,787

Number of Loans/Investments 205

SSBCI Original Allocated Funds Expended $18,071,787

SSBCI Recycled Funds Expended $9,231,812

Total New Financing to Small Businesses $175,349,359

Leverage Ratio 9.70x

Transaction Size and Demographics

Median Principal Loan/Investment Size $485,000

Minimum Principal Loan/Investment Size $5,000

Maximum Principal Loan/Investment Size $6,000,000

LMI Census Tracts (by Number of Transactions) 22.4%

LMI Census Tracts (by Dollar Amount) 20.1%

Non-Metro Areas (by Number of Transactions) 13.7%

Non-Metro Areas (by Dollar Amount) 14.1%

Business Age and Size

Median Business Age at Loan/Investment 8

Median Business Size (FTEs) 10

Median Business Size (Annual Revenue) $1,300,000

Total Number of Jobs Created or Retained 3,349 

Jobs Created 653 

Jobs Retained 2,697 

Top 3 Industries by Number of Transactions

Health Care and Social Assistance 56 

Professional, Scientific, and Technical Services 24 

Construction 23 

Top 3 Industries by Dollar Amount

Health Care and Social Assistance $62,060,950

Retail Trade $23,148,687

Manufacturing $17,625,602

Lender Participation

Small Lenders* (by Number of Transactions) 52.2%

Small Lenders (by Dollar Amount) 52.1%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

South Dakota

Allocation Amount: $13,227,911

Number of Loans/Investments 17

SSBCI Original Allocated Funds Expended $8,187,198

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $65,679,557

Leverage Ratio 8.02x

Transaction Size and Demographics

Median Principal Loan/Investment Size $900,000

Minimum Principal Loan/Investment Size $283,000

Maximum Principal Loan/Investment Size $17,000,000

LMI Census Tracts (by Number of Transactions) 47.1%

LMI Census Tracts (by Dollar Amount) 59.7%

Non-Metro Areas (by Number of Transactions) 17.6%

Non-Metro Areas (by Dollar Amount) 14.4%

Business Age and Size

Median Business Age at Loan/Investment 9

Median Business Size (FTEs) 45

Median Business Size (Annual Revenue) $2,803,919

Total Number of Jobs Created or Retained 712 

Jobs Created 401 

Jobs Retained 311 

Top 3 Industries by Number of Transactions

Manufacturing 4 

Retail Trade 3 

Health Care and Social Assistance 2 

Top 3 Industries by Dollar Amount

Accommodation and Food Services $17,000,000

Health Care and Social Assistance $14,267,610

Retail Trade $9,428,500

Lender Participation

Small Lenders* (by Number of Transactions) 64.7%

Small Lenders (by Dollar Amount) 65.0%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 45

Tennessee

Allocation Amount: $29,806,278

Number of Loans/Investments 89

SSBCI Original Allocated Funds Expended $29,728,706

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $159,683,309

Leverage Ratio 5.37x

Transaction Size and Demographics

Median Principal Loan/Investment Size $874,425

Minimum Principal Loan/Investment Size $32,000

Maximum Principal Loan/Investment Size $6,534,061

LMI Census Tracts (by Number of Transactions) 41.6%

LMI Census Tracts (by Dollar Amount) 35.1%

Non-Metro Areas (by Number of Transactions) 12.4%

Non-Metro Areas (by Dollar Amount) 11.9%

Business Age and Size

Median Business Age at Loan/Investment 3

Median Business Size (FTEs) 7

Median Business Size (Annual Revenue) $369,310

Total Number of Jobs Created or Retained 1,552 

Jobs Created 399 

Jobs Retained 1,154 

Top 3 Industries by Number of Transactions

Information 40 

Professional, Scientific, and Technical Services 19 

Manufacturing 12 

Top 3 Industries by Dollar Amount

Information $71,969,613

Professional, Scientific, and Technical Services $40,500,303

Retail Trade $16,333,122

Lender Participation

Small Lenders* (by Number of Transactions) 0.0%

Small Lenders (by Dollar Amount) 0.0%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Texas

Allocation Amount: $46,764,445

Number of Loans/Investments 57

SSBCI Original Allocated Funds Expended $41,422,620

SSBCI Recycled Funds Expended $1,699,156

Total New Financing to Small Businesses $553,047,525

Leverage Ratio 13.35x

Transaction Size and Demographics

Median Principal Loan/Investment Size $2,300,000

Minimum Principal Loan/Investment Size $19,000

Maximum Principal Loan/Investment Size $20,000,000

LMI Census Tracts (by Number of Transactions) 24.6%

LMI Census Tracts (by Dollar Amount) 26.8%

Non-Metro Areas (by Number of Transactions) 7.0%

Non-Metro Areas (by Dollar Amount) 1.4%

Business Age and Size

Median Business Age at Loan/Investment 4

Median Business Size (FTEs) 6

Median Business Size (Annual Revenue) $237,000

Total Number of Jobs Created or Retained 1,486 

Jobs Created 705 

Jobs Retained 781 

Top 3 Industries by Number of Transactions

Information 18 

Manufacturing 15 

Professional, Scientific, and Technical Services 11 

Top 3 Industries by Dollar Amount

Professional, Scientific, and Technical Services $163,712,536

Mining, Quarrying, and Oil and Gas Extraction $153,502,422

Information $149,411,317

Lender Participation

Small Lenders* (by Number of Transactions) 10.5%

Small Lenders (by Dollar Amount) 0.1%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 46

Utah

Allocation Amount: $11,815,036

Number of Loans/Investments 38

SSBCI Original Allocated Funds Expended $8,737,841

SSBCI Recycled Funds Expended $1,298,657

Total New Financing to Small Businesses $61,717,910

Leverage Ratio 7.06x

Transaction Size and Demographics

Median Principal Loan/Investment Size $500,000

Minimum Principal Loan/Investment Size $20,000

Maximum Principal Loan/Investment Size $12,120,000

LMI Census Tracts (by Number of Transactions) 39.5%

LMI Census Tracts (by Dollar Amount) 24.7%

Non-Metro Areas (by Number of Transactions) 10.5%

Non-Metro Areas (by Dollar Amount) 0.3%

Business Age and Size

Median Business Age at Loan/Investment 7

Median Business Size (FTEs) 15

Median Business Size (Annual Revenue) $1,676,322

Total Number of Jobs Created or Retained 1,974 

Jobs Created 371 

Jobs Retained 1,603 

Top 3 Industries by Number of Transactions

Manufacturing 8 

Accommodation and Food Services 5 

Retail Trade 4 

Administrative and Support and Waste Management 

and Remediation Services 4 

Top 3 Industries by Dollar Amount

Accommodation and Food Services $21,145,000

Manufacturing $19,814,440

Information $8,886,000

Lender Participation

Small Lenders* (by Number of Transactions) 23.7%

Small Lenders (by Dollar Amount) 10.7%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Vermont

Allocation Amount: $13,227,911

Number of Loans/Investments 174

SSBCI Original Allocated Funds Expended $12,998,518

SSBCI Recycled Funds Expended $4,399,583

Total New Financing to Small Businesses $177,226,826

Leverage Ratio 13.63x

Transaction Size and Demographics

Median Principal Loan/Investment Size $496,667

Minimum Principal Loan/Investment Size $22,101

Maximum Principal Loan/Investment Size $20,000,000

LMI Census Tracts (by Number of Transactions) 13.8%

LMI Census Tracts (by Dollar Amount) 32.3%

Non-Metro Areas (by Number of Transactions) 66.7%

Non-Metro Areas (by Dollar Amount) 57.4%

Business Age and Size

Median Business Age at Loan/Investment 10

Median Business Size (FTEs) 8

Median Business Size (Annual Revenue) $1,010,200

Total Number of Jobs Created or Retained 1,954 

Jobs Created 1,741 

Jobs Retained 213 

Top 3 Industries by Number of Transactions

Manufacturing 68 

Accommodation and Food Services 38 

Retail Trade 13 

Top 3 Industries by Dollar Amount

Manufacturing $69,963,156

Accommodation and Food Services $62,704,860

Wholesale Trade $8,428,532

Lender Participation

Small Lenders* (by Number of Transactions) 79.3%

Small Lenders (by Dollar Amount) 69.8%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 47

Virginia

Allocation Amount: $18,034,394

Number of Loans/Investments 292

SSBCI Original Allocated Funds Expended $17,453,680

SSBCI Recycled Funds Expended $4,685,111

Total New Financing to Small Businesses $115,007,216

Leverage Ratio 6.59x

Transaction Size and Demographics

Median Principal Loan/Investment Size $134,350

Minimum Principal Loan/Investment Size $3,000

Maximum Principal Loan/Investment Size $9,600,000

LMI Census Tracts (by Number of Transactions) 34.2%

LMI Census Tracts (by Dollar Amount) 20.2%

Non-Metro Areas (by Number of Transactions) 24.7%

Non-Metro Areas (by Dollar Amount) 8.5%

Business Age and Size

Median Business Age at Loan/Investment 5

Median Business Size (FTEs) 5

Median Business Size (Annual Revenue) $289,500

Total Number of Jobs Created or Retained 5,495 

Jobs Created 2,964 

Jobs Retained 2,531 

Top 3 Industries by Number of Transactions

Professional, Scientific, and Technical Services 31 

Manufacturing 28 

Other Services (except Public Administration) 28 

Top 3 Industries by Dollar Amount

Information $25,075,304

Professional, Scientific, and Technical Services $22,592,564

Manufacturing $12,810,393

Lender Participation

Small Lenders* (by Number of Transactions) 55.1%

Small Lenders (by Dollar Amount) 45.9%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Washington

Allocation Amount: $19,811,721

Number of Loans/Investments 88

SSBCI Original Allocated Funds Expended $17,523,883

SSBCI Recycled Funds Expended $1,455,000

Total New Financing to Small Businesses $178,830,391

Leverage Ratio 10.20x

Transaction Size and Demographics

Median Principal Loan/Investment Size $689,350

Minimum Principal Loan/Investment Size $32,217

Maximum Principal Loan/Investment Size $10,000,000

LMI Census Tracts (by Number of Transactions) 40.9%

LMI Census Tracts (by Dollar Amount) 56.5%

Non-Metro Areas (by Number of Transactions) 13.6%

Non-Metro Areas (by Dollar Amount) 24.8%

Business Age and Size

Median Business Age at Loan/Investment 6

Median Business Size (FTEs) 13

Median Business Size (Annual Revenue) $702,337

Total Number of Jobs Created or Retained 2,085 

Jobs Created 854 

Jobs Retained 1,231 

Top 3 Industries by Number of Transactions

Manufacturing 31 

Construction 12 

Professional, Scientific, and Technical Services 11 

Top 3 Industries by Dollar Amount

Manufacturing $80,780,781

Professional, Scientific, and Technical Services $26,969,345

Other Services (except Public Administration) $20,303,413

Lender Participation

Small Lenders* (by Number of Transactions) 71.6%

Small Lenders (by Dollar Amount) 69.3%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 48

West Virginia

Allocation Amount: $13,227,911

Number of Loans/Investments 67

SSBCI Original Allocated Funds Expended $12,624,119

SSBCI Recycled Funds Expended $310,059

Total New Financing to Small Businesses $102,530,815

Leverage Ratio 8.12x

Transaction Size and Demographics

Median Principal Loan/Investment Size $457,000

Minimum Principal Loan/Investment Size $40,000

Maximum Principal Loan/Investment Size $7,500,000

LMI Census Tracts (by Number of Transactions) 35.8%

LMI Census Tracts (by Dollar Amount) 50.9%

Non-Metro Areas (by Number of Transactions) 32.8%

Non-Metro Areas (by Dollar Amount) 32.7%

Business Age and Size

Median Business Age at Loan/Investment 4

Median Business Size (FTEs) 4

Median Business Size (Annual Revenue) $256,278

Total Number of Jobs Created or Retained 1,321 

Jobs Created 776 

Jobs Retained 545 

Top 3 Industries by Number of Transactions

Manufacturing 22 

Professional, Scientific, and Technical Services 9 

Health Care and Social Assistance 6 

Top 3 Industries by Dollar Amount

Manufacturing $47,175,484

Accommodation and Food Services $13,952,823

Retail Trade $13,602,561

Lender Participation

Small Lenders* (by Number of Transactions) 41.8%

Small Lenders (by Dollar Amount) 45.8%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Wisconsin

Allocation Amount: $22,363,554

Number of Loans/Investments 77

SSBCI Original Allocated Funds Expended $13,748,452

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $151,849,967

Leverage Ratio 11.04x

Transaction Size and Demographics

Median Principal Loan/Investment Size $500,000

Minimum Principal Loan/Investment Size $12,800

Maximum Principal Loan/Investment Size $7,986,000

LMI Census Tracts (by Number of Transactions) 28.6%

LMI Census Tracts (by Dollar Amount) 38.1%

Non-Metro Areas (by Number of Transactions) 7.8%

Non-Metro Areas (by Dollar Amount) 5.7%

Business Age and Size

Median Business Age at Loan/Investment 4

Median Business Size (FTEs) 8

Median Business Size (Annual Revenue) $225,000

Total Number of Jobs Created or Retained 1,629 

Jobs Created 1,056 

Jobs Retained 573 

Top 3 Industries by Number of Transactions

Manufacturing 35 

Professional, Scientific, and Technical Services 26 

Information 10 

Top 3 Industries by Dollar Amount

Manufacturing $67,157,562

Professional, Scientific, and Technical Services $57,593,977

Information $17,080,010

Lender Participation

Small Lenders* (by Number of Transactions) 0.0%

Small Lenders (by Dollar Amount) 0.0%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 49

Appendix A: Participating Municipalities

Alaska—Anchorage 

Allocation Amount: $13,168,350

Number of Loans/Investments 19

SSBCI Original Allocated Funds Expended $1,700,137

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $6,657,375

Leverage Ratio 3.92x

Transaction Size and Demographics

Median Principal Loan/Investment Size $125,000

Minimum Principal Loan/Investment Size $21,875

Maximum Principal Loan/Investment Size $2,400,000

LMI Census Tracts (by Number of Transactions) 26.3%

LMI Census Tracts (by Dollar Amount) 65.5%

Non-Metro Areas (by Number of Transactions) 0.0%

Non-Metro Areas (by Dollar Amount) 0.0%

Business Age and Size

Median Business Age at Loan/Investment 0

Median Business Size (FTEs) 3

Median Business Size (Annual Revenue) $0

Total Number of Jobs Created or Retained 67 

Jobs Created 51

Jobs Retained 16

Top 3 Industries by Number of Transactions

Manufacturing 7 

Professional, Scientific, and Technical Services 5 

Information 3 

Top 3 Industries by Dollar Amount

Wholesale Trade $3,920,000

Manufacturing $1,017,750

Agriculture, Forestry, Fishing and Hunting $705,000

Lender Participation

Small Lenders* (by Number of Transactions) 0.0%

Small Lenders (by Dollar Amount) 0.0%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

North Dakota—Carrington

Allocation Amount: $3,433,709

Number of Loans/Investments 21

SSBCI Original Allocated Funds Expended $3,014,524

SSBCI Recycled Funds Expended $300,000

Total New Financing to Small Businesses $8,003,882

Leverage Ratio 2.66x

Transaction Size and Demographics

Median Principal Loan/Investment Size $390,000

Minimum Principal Loan/Investment Size $20,000

Maximum Principal Loan/Investment Size $1,000,000

LMI Census Tracts (by Number of Transactions) 9.5%

LMI Census Tracts (by Dollar Amount) 7.4%

Non-Metro Areas (by Number of Transactions) 81.0%

Non-Metro Areas (by Dollar Amount) 84.3%

Business Age and Size

Median Business Age at Loan/Investment 2

Median Business Size (FTEs) 3

Median Business Size (Annual Revenue) $185,000

Total Number of Jobs Created or Retained 119 

Jobs Created 37 

Jobs Retained 82 

Top 3 Industries by Number of Transactions

Retail Trade 4 

Other Services (except Public Administration) 3 

Administrative and Support and Waste Management 

and Remediation Services 3 

Manufacturing 3 

Top 3 Industries by Dollar Amount

Manufacturing $2,090,000

Retail Trade $1,589,117

Health Care and Social Assistance $995,000

Lender Participation

Small Lenders* (by Number of Transactions) 71.4%

Small Lenders (by Dollar Amount) 55.3%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 50

North Dakota—Mandan

Allocation Amount: $9,734,641

Number of Loans/Investments 44

SSBCI Original Allocated Funds Expended $9,734,641

SSBCI Recycled Funds Expended $4,497,861

Total New Financing to Small Businesses $84,060,392

Leverage Ratio 8.64x

Transaction Size and Demographics

Median Principal Loan/Investment Size $871,250

Minimum Principal Loan/Investment Size $17,114

Maximum Principal Loan/Investment Size $17,600,000

LMI Census Tracts (by Number of Transactions) 31.8%

LMI Census Tracts (by Dollar Amount) 20.4%

Non-Metro Areas (by Number of Transactions) 31.8%

Non-Metro Areas (by Dollar Amount) 18.6%

Business Age and Size

Median Business Age at Loan/Investment 2

Median Business Size (FTEs) 11

Median Business Size (Annual Revenue) $1,370,200

Total Number of Jobs Created or Retained 708 

Jobs Created 506 

Jobs Retained 202 

Top 3 Industries by Number of Transactions

Accommodation and Food Services 12 

Retail Trade 8 

Other Services (except Public Administration) 5 

Top 3 Industries by Dollar Amount

Accommodation and Food Services $24,963,772

Manufacturing $22,773,068

Retail Trade $8,359,647

Lender Participation

Small Lenders* (by Number of Transactions) 77.3%

Small Lenders (by Dollar Amount) 69.9%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Wyoming—Laramie

Allocation Amount: $13,168,350

Number of Loans/Investments 82

SSBCI Original Allocated Funds Expended $12,777,481

SSBCI Recycled Funds Expended $1,010,955

Total New Financing to Small Businesses $58,748,371

Leverage Ratio 4.60x

Transaction Size and Demographics

Median Principal Loan/Investment Size $200,000

Minimum Principal Loan/Investment Size $10,000

Maximum Principal Loan/Investment Size $13,490,581

LMI Census Tracts (by Number of Transactions) 17.1%

LMI Census Tracts (by Dollar Amount) 13.1%

Non-Metro Areas (by Number of Transactions) 62.2%

Non-Metro Areas (by Dollar Amount) 42.8%

Business Age and Size

Median Business Age at Loan/Investment 2

Median Business Size (FTEs) 2

Median Business Size (Annual Revenue) $246,679

Total Number of Jobs Created or Retained 719 

Jobs Created 366 

Jobs Retained 353 

Top 3 Industries by Number of Transactions

Retail Trade 25 

Accommodation and Food Services 11 

Mining, Quarrying, and Oil and Gas Extraction 8 

Top 3 Industries by Dollar Amount

Information $13,661,581

Accommodation and Food Services $9,367,424

Health Care and Social Assistance $8,625,204

Lender Participation

Small Lenders* (by Number of Transactions) 63.4%

Small Lenders (by Dollar Amount) 67.0%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 51

Appendix A: Participating Territories

American Samoa 

Allocation Amount: $10,500,000

Number of Loans/Investments 0

SSBCI Original Allocated Funds Expended $171,178

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $0

Leverage Ratio 0.00x

Transaction Size and Demographics

Median Principal Loan/Investment Size $0

Minimum Principal Loan/Investment Size $0

Maximum Principal Loan/Investment Size $0

LMI Census Tracts (by Number of Transactions) 0.0%

LMI Census Tracts (by Dollar Amount) 0.0%

Non-Metro Areas (by Number of Transactions) 0.0%

Non-Metro Areas (by Dollar Amount) 0.0%

Business Age and Size

Median Business Age at Loan/Investment 0

Median Business Size (FTEs) 0

Median Business Size (Annual Revenue) $0

Total Number of Jobs Created or Retained 0 

Jobs Created 0

Jobs Retained 0

Top 3 Industries by Number of Transactions

N/A 0

N/A 0

N/A 0

Top 3 Industries by Dollar Amount

N/A $0

N/A $0

N/A $0

Lender Participation

Small Lenders* (by Number of Transactions) 0.0%

Small Lenders (by Dollar Amount) 0.0%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Guam

Allocation Amount: $13,227,911

Number of Loans/Investments 42

SSBCI Original Allocated Funds Expended $5,797,210

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $10,048,996

Leverage Ratio 1.73x

Transaction Size and Demographics

Median Principal Loan/Investment Size $100,000

Minimum Principal Loan/Investment Size $2,600

Maximum Principal Loan/Investment Size $1,642,500

LMI Census Tracts (by Number of Transactions) 31.0%

LMI Census Tracts (by Dollar Amount) 55.1%

Non-Metro Areas (by Number of Transactions) 92.9%

Non-Metro Areas (by Dollar Amount) 98.3%

Business Age and Size

Median Business Age at Loan/Investment 1

Median Business Size (FTEs) 3

Median Business Size (Annual Revenue) $193,837

Total Number of Jobs Created or Retained 788 

Jobs Created 523 

Jobs Retained 265 

Top 3 Industries by Number of Transactions

Accommodation and Food Services 9 

Retail Trade 8 

Professional, Scientific, and Technical Services 6 

Top 3 Industries by Dollar Amount

Retail Trade $2,665,000

Accommodation and Food Services $2,303,000

Arts, Entertainment, and Recreation $2,142,500

Lender Participation

Small Lenders* (by Number of Transactions) 38.1%

Small Lenders (by Dollar Amount) 35.6%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 52

Northern Mariana Islands

Allocation Amount: $12,733,082

Number of Loans/Investments 38

SSBCI Original Allocated Funds Expended $4,380,368

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $8,866,171

Leverage Ratio 2.02x

Transaction Size and Demographics

Median Principal Loan/Investment Size $150,000

Minimum Principal Loan/Investment Size $25,000

Maximum Principal Loan/Investment Size $1,500,000

LMI Census Tracts (by Number of Transactions) 0.0%

LMI Census Tracts (by Dollar Amount) 0.0%

Non-Metro Areas (by Number of Transactions) 89.5%

Non-Metro Areas (by Dollar Amount) 88.2%

Business Age and Size

Median Business Age at Loan/Investment 4

Median Business Size (FTEs) 5

Median Business Size (Annual Revenue) $175,019

Total Number of Jobs Created or Retained 842 

Jobs Created 422 

Jobs Retained 420 

Top 3 Industries by Number of Transactions

Accommodation and Food Services 13 

Retail Trade 4 

Wholesale Trade 4 

Manufacturing 4 

Top 3 Industries by Dollar Amount

Accommodation and Food Services $3,561,500

Wholesale Trade $1,040,671

Manufacturing $950,000

Lender Participation

Small Lenders* (by Number of Transactions) 28.9%

Small Lenders (by Dollar Amount) 19.5%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B

Puerto Rico

Allocation Amount: $14,605,823

Number of Loans/Investments 40

SSBCI Original Allocated Funds Expended $14,605,823

SSBCI Recycled Funds Expended $12,010,800

Total New Financing to Small Businesses $64,896,535

Leverage Ratio 4.44x

Transaction Size and Demographics

Median Principal Loan/Investment Size $1,249,013

Minimum Principal Loan/Investment Size $100,000

Maximum Principal Loan/Investment Size $9,050,000

LMI Census Tracts (by Number of Transactions) 25.0%

LMI Census Tracts (by Dollar Amount) 14.0%

Non-Metro Areas (by Number of Transactions) 7.5%

Non-Metro Areas (by Dollar Amount) 5.9%

Business Age and Size

Median Business Age at Loan/Investment 9

Median Business Size (FTEs) 37

Median Business Size (Annual Revenue) $4,559,623

Total Number of Jobs Created or Retained 4,541 

Jobs Created 1,803 

Jobs Retained 2,738 

Top 3 Industries by Number of Transactions

Educational Services 11 

Manufacturing 9 

Professional, Scientific, and Technical Services 4 

Accommodation and Food Services 4 

Top 3 Industries by Dollar Amount

Educational Services $17,803,178

Manufacturing $11,155,483

Transportation and Warehousing $9,050,000

Lender Participation

Small Lenders* (by Number of Transactions) 92.5%

Small Lenders (by Dollar Amount) 70.6%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX A 53

U.S. Virgin Islands 

Allocation Amount: $13,227,911

Number of Loans/Investments 36

SSBCI Original Allocated Funds Expended $7,034,454

SSBCI Recycled Funds Expended $0

Total New Financing to Small Businesses $18,744,390

Leverage Ratio 2.66x

Transaction Size and Demographics

Median Principal Loan/Investment Size $195,000

Minimum Principal Loan/Investment Size $16,000

Maximum Principal Loan/Investment Size $6,000,000

LMI Census Tracts (by Number of Transactions) 13.9%

LMI Census Tracts (by Dollar Amount) 5.3%

Non-Metro Areas (by Number of Transactions) 100.0%

Non-Metro Areas (by Dollar Amount) 100.0%

Business Age and Size

Median Business Age at Loan/Investment 2

Median Business Size (FTEs) 7

Median Business Size (Annual Revenue) $960,000

Total Number of Jobs Created or Retained 506 

Jobs Created 161 

Jobs Retained 345 

Top 3 Industries by Number of Transactions

Health Care and Social Assistance 12 

Retail Trade 6 

Accommodation and Food Services 5 

Top 3 Industries by Dollar Amount

Health Care and Social Assistance $6,701,000

Retail Trade $6,646,000

Arts, Entertainment, and Recreation $2,525,000

Lender Participation

Small Lenders* (by Number of Transactions) 19.4%

Small Lenders (by Dollar Amount) 20.5%

* Includes Banks, Credit Unions, CDFIs, and Non-Financial Institution Lenders 

with assets less than or equal to $1.22B
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX B 54

Appendix B: SSBCI Funds Expended by 

State Program

Approved State Program Program Type

Type of Administering 

Entitya or VCP Strategyb Allocation

SSBCI Funds 

Expended for Loans 

or Investments

SSBCI Funds Expended 

for Program 

Administrationc

Recycled 

Funds 

Expended

Percent of 

SSBCI Funds 

Expendedd

# of 

Transactions

Total Financing 

Leveraged

Leverage 

Ratioe

Estimated # of Jobs

Median Size 

of Business 

Supported (FTEs)

Median Age 

of Business 

Supported (Years)

Percent of Transactions

 to be 

Created

to be 

Retained

 in LMI Areas 

(by #)

 in LMI Areas 

(by $)

 in Non-Metro 

Areas (by #)

in Non-Metro 

Areas (by $)

Alabama

Alabama CAP Program CAP Public Agency $1,870,000 $9,873 $163,801 $0 0.5% 8 $197,451 20.00 x 17 23 2.5 1.5 12.5% 28.7% 25.0% 26.2%

Alabama Loan Guarantee Program Loan Guarantee Public Agency $27,703,076 $27,561,498 $582,912 $46,584,781 99.5% 568 $224,211,265 8.13 x 2,361 4,050 3 3 34.2% 33.7% 43.8% 31.8%

Alabama Loan Participation Program Loan Participation Public Agency $1,870,000 $923,575 $0 49.4% 6 $6,585,750 7.13 x 26 56 9.5 7.5 33.3% 39.0% 0.0% 0.0%

Total $31,443,076 $28,494,946 $746,712 $46,584,781 93.0% 582 $230,994,466 7.90 x 2,404 4,129 3 3 33.8% 33.8% 43.1% 30.9%

Alaska—Anchorage

49th State Venture Fund Venture Capital State Agency; Fund $13,168,350 $1,289,625 $410,512 $0 9.8% 19 $6,657,375 5.16 x 51 16 3 0 26.3% 65.5% 0.0% 0.0%

Total $13,168,350 $1,289,625 $410,512 $0 12.9% 19 $6,657,375 3.92 x 51 16 3 0 26.3% 65.5% 0.0% 0.0%

American Samoa

American Samoa Venture Fund Venture Capital SSE $10,500,000 $0 $171,178 $0 0.0% 0 $0 N/A 0 0 N/A N/A N/A N/A N/A N/A

Total $10,500,000 $0 $171,178 $0 1.6% 0 $0 0.00 x 0 0 0 0 0.0% N/A 0.0% N/A

Arizona

Arizona Expansion Fund Loan Participation Quasi-Public Agency $18,286,556 $17,620,283 $666,273 $2,201,144 96.4% 61 $82,710,192 4.69 x 2,445 1,479 15 5 50.8% 37.9% 1.6% 9.0%

Total $18,286,556 $17,620,283 $666,273 $2,201,144 100.0% 61 $82,710,192 4.52 x 2,445 1,479 15 5 50.8% 37.9% 1.6% 9.0%

Arkansas

Arkansas Capital Access Program CAP Quasi-Public Agency $101,083 $31,438 $10,084 $20,712 31.1% 121 $1,536,148 48.86 x 155 235 2 2 34.7% 32.9% 21.5% 27.7%

Disadvantaged Business Enterprise/ Small Business Loan 

Guaranty Program

Loan Guarantee Quasi-Public Agency $720,071 $709,173 $980,677 98.5% 15 $2,310,500 3.26 x 53 28 10 10 53.3% 60.0% 6.7% 1.7%

Bond Guaranty/ Loan Participation Program Loan Participation Quasi-Public Agency $4,690,312 $4,577,211 $76,789 97.6% 14 $67,044,000 14.65 x 459 59 4.5 2 21.4% 16.0% 57.1% 50.2%

Arkansas Development Finance Authority Co-investment 

Fund

Venture Capital SSE $3,595,156 $3,474,521 $392,281 $650,000 96.6% 18 $27,766,759 7.99 x 230 0 15.5 3 50.0% 75.9% 0.0% 0.0%

Risk Capital Matching Fund Venture Capital SSE $1,297,352 $1,233,035 $462,923 95.0% 13 $96,769,187 78.48 x 55 7 8 4 84.6% 98.3% 0.0% 0.0%

Seed and Angel Capital Network Venture Capital Fund $2,823,937 $2,457,985 $0 87.0% 103 $28,395,865 11.55 x 457 38 2 1 47.6% 53.6% 1.0% 0.1%

Total $13,227,911 $12,483,364 $402,365 $2,191,101 97.4% 284 $223,822,458 17.37 x 1,409 367 2 1 43.0% 64.4% 12.7% 15.2%

California

California Capital Access Program (CalCAP) CAP Public Agency $19,574,379 $15,205,344 $2,198,276 $275,147 77.7% 8,908 $337,388,689 22.19 x 4,753 40,739 2 5 52.2% 46.9% 0.9% 1.1%

California Collateral Support Program (CalCSP) Collateral Support Public Agency $65,021,717 $55,434,096 $0 85.3% 135 $155,875,524 2.81 x 906 3,251 15 9 41.5% 33.7% 2.2% 0.9%

California Small Business Loan Guarantee Program Loan Guarantee Private Agency $83,802,979 $64,987,597 $1,980,571 $10,535,309 77.5% 1,243 $558,642,369 8.60 x 8,574 34,310 11 6 37.8% 37.1% 1.4% 0.7%

California Commercial Property Assessed Clean Energy Loan Participation Public Agency $0 $0 $0 0.0% 0 $0 N/A 0 0 N/A N/A N/A N/A N/A N/A

Total $168,399,074 $135,627,037 $4,178,847 $10,810,456 83.0% 10,286 $1,051,906,582 7.52 x 14,233 78,300 2 5 50.3% 39.8% 0.9% 0.8%

Colorado

Colorado Capital Access Program CAP Quasi-Public Agency $12,658 $12,166 $0 $0 96.1% 18 $603,283 49.59 x 18 0 2 1 100.0% 100.0% 100.0% 100.0%

Colorado Cash Collateral Support Program Collateral Support Quasi-Public Agency $17,298,779 $16,759,250 $462,831 $3,858,552 96.9% 201 $134,457,960 8.02 x 971 482 2 4 38.8% 37.2% 36.3% 18.7%

Total $17,311,437 $16,771,416 $462,831 $3,858,552 99.6% 219 $135,061,244 7.84 x 989 482 2 4 43.8% 37.5% 41.6% 19.1%

a Public, Quasi-Public, Private. 

b Funds, SSE, State Agency, Co-investment Model.

c Non-CAP administration is not allocated to specific programs and is reported at the program category level.

d The percent expended for each state includes SSBCI funds expended for program administration; however, the percent expended shown for each approved state program does not include 

funds expended for program administration.

e The overall leverage ratio for each state includes SSBCI funds expended for program administration; however, the leverage ratio shown for each approved state program does not include 

funds expended for program administration.

(continued)
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX B 55

Approved State Program Program Type

Type of Administering 

Entitya or VCP Strategyb Allocation

SSBCI Funds 

Expended for Loans 

or Investments

SSBCI Funds Expended 

for Program 

Administrationc

Recycled 

Funds 

Expended

Percent of 

SSBCI Funds 

Expendedd

# of 

Transactions

Total Financing 

Leveraged

Leverage 

Ratioe

Estimated # of Jobs Median Size 

of Business 

Supported (FTEs)

Median Age 

of Business 

Supported (Years)

Percent of Transactions

 to be 

Created

to be 

Retained

 in LMI Areas 

(by #)

 in LMI Areas 

(by $)

 in Non-Metro 

Areas (by #)

in Non-Metro 

Areas (by $)

Connecticut

Connecticut Capital Access Program (CT-CAP) CAP Quasi-Public Agency $4,299 $0 $4,299 $0 0.0% 0 $0 N/A 0 0 N/A N/A N/A N/A N/A N/A

Seed and Early Stage Investment Fund (SESIF) Venture Capital SSE $13,356,989 $11,793,317 $3,509 $0 88.3% 19 $72,775,738 6.17 x 96 175 5 5 36.8% 23.7% 0.0% 0.0%

Total $13,361,288 $11,793,317 $7,808 $0 88.3% 19 $72,775,738 6.17 x 96 175 5 5 36.8% 23.7% 0.0% 0.0%

Delaware

Delaware Access Program CAP Public Agency $1,000,000 $174,855 $0 $0 17.5% 90 $5,080,697 29.06 x 269 500 3 3 23.3% 24.5% 25.6% 18.6%

DSF Participation and Loan Program Loan Participation Public Agency $12,227,911 $9,059,275 $0 $0 74.1% 37 $57,942,426 6.40 x 300 537 4 2 40.5% 24.7% 37.8% 62.9%

Total $13,227,911 $9,234,130 $0 $0 69.8% 127 $63,023,122 6.83 x 569 1,037 3 3 28.3% 24.7% 29.1% 59.3%

District of Columbia

DC Collateral Support Program Collateral Support Public Agency $8,227,911 $7,128,199 $0 86.6% 26 $16,938,500 2.38 x 158 555 11.5 7 46.2% 64.6% 0.0% 0.0%

DC Loan Participation Program Loan Participation Public Agency $2,000,000 $750,000 $147,080 $0 37.5% 3 $1,500,000 2.00 x 0 49 8 25 33.3% 33.3% 0.0% 0.0%

Innovation Finance Program Venture Capital Co-Investment Model $3,000,000 $885,000 $0 29.5% 4 $1,830,000 2.07 x 7 22 7 1.5 50.0% 19.7% 0.0% 0.0%

Total $13,227,911 $8,763,199 $147,080 $0 67.4% 33 $20,268,500 2.27 x 165 626 9 7 45.5% 58.3% 0.0% 0.0%

Florida

Florida Capital Access Program CAP Public Agency $500,000 $32,249 $324,767 $0 6.4% 95 $1,227,634 38.07 x 59 248 1.5 2 35.8% 22.0% 1.1% 0.3%

Florida Export Support Program Loan Guarantee Private Agency $5,000,000 $2,303,000 $0 46.1% 9 $7,840,000 3.40 x 27 67 5 6 11.1% 7.7% 0.0% 0.0%

Loan Guarantee Program Loan Guarantee Private Agency $33,600,000 $13,806,213 $8,572,426 41.1% 51 $77,341,670 5.60 x 1,493 226 18 10 43.1% 38.8% 5.9% 2.0%

Direct Loan Program Loan Participation Public Agency $0 $0 $2,279,211 $0 0.0% 0 $0 N/A 0 0 N/A N/A N/A N/A N/A N/A

Loan Participation Program Loan Participation Private Agency $32,504,081 $32,504,081 $24,342,546 100.0% 68 $167,459,317 5.15 x 983 56 3.5 2.5 30.9% 28.8% 5.9% 8.3%

Florida Venture Capital Program Venture Capital Fund $26,500,000 $24,980,147 $0 94.3% 55 $135,522,121 5.43 x 738 476 7 5 65.5% 46.6% 0.0% 0.0%

Total $98,104,081 $73,625,689 $2,603,979 $32,914,972 77.7% 278 $389,390,741 5.11 x 3,300 1,073 4 4 41.0% 36.5% 2.9% 4.0%

Georgia

Georgia Capital Access Program CAP Public Agency $0 $0 $0 $0 0.0% 0 $0 N/A 0 0 N/A N/A N/A N/A N/A N/A

Georgia Small Business Credit Guarantee Program Loan Guarantee Private Agency $12,808,507 $10,199,840 $30,000 79.6% 382 $72,843,444 7.14 x 1,063 1,275 4 5 29.1% 27.5% 4.7% 5.9%

Georgia Funding for CDFIs Loan Participation Private Agency $20,000,000 $19,758,228 $1,756,277 $4,491,550 98.8% 81 $129,335,043 6.55 x 816 394 6 5 48.1% 37.8% 28.4% 17.6%

Georgia Loan Participation Program Loan Participation Public Agency $15,216,241 $11,457,702 $0 75.3% 36 $74,006,674 6.46 x 321 158 6 3.5 47.2% 35.6% 30.6% 17.9%

Total $48,024,748 $41,415,770 $1,756,277 $4,521,550 89.9% 499 $276,185,161 6.40 x 2,200 1,827 4 5 33.5% 34.5% 10.4% 14.6%

Guam

Guam Capital Access Program CAP Quasi-Public Agency $658,417 $0 $14,223 $0 0.0% 0 $0 N/A 0 0 N/A N/A N/A N/A N/A N/A

Guam Credit Guarantee Program Loan Guarantee Quasi-Public Agency $9,935,823 $5,314,385

$468,602

$0 53.5% 42 $10,048,996 1.89 x 523 265 3 1 31.0% 55.1% 92.9% 98.3%

Guam Loan Participation Program Loan Participation Quasi-Public Agency $2,633,671 $0 $0 0.0% 0 $0 N/A 0 0 N/A N/A N/A N/A N/A N/A

Total $13,227,911 $5,314,385 $482,825 $0 43.8% 42 $10,048,996 1.73 x 523 265 3 1 31.0% 55.1% 92.9% 98.3%

Hawaii

HSDC Venture Capital Investment Program Venture Capital Fund $13,227,911 $5,236,849 $239,834 $0 39.6% 120 $181,849,084 34.72 x 159 520 3 0 28.3% 25.1% 10.0% 3.2%

Total $13,227,911 $5,236,849 $239,834 $0 41.4% 120 $181,849,084 33.20 x 159 520 3 0 28.3% 25.1% 10.0% 3.2%

Idaho

Collateral Support Program Collateral Support Quasi-Public Agency $13,195,667 $12,655,537 $481,006 $10,559,488 95.9% 315 $208,186,678 16.45 x 1,051 2,030 8 6 26.7% 28.9% 30.5% 27.7%

Total $13,195,667 $12,655,537 $481,006 $10,559,488 99.6% 315 $208,186,678 15.85 x 1,051 2,030 8 6 26.7% 28.9% 30.5% 27.7%

(continued)
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX B 56

Approved State Program Program Type

Type of Administering 

Entitya or VCP Strategyb Allocation

SSBCI Funds 

Expended for Loans 

or Investments

SSBCI Funds Expended 

for Program 

Administrationc

Recycled 

Funds 

Expended

Percent of 

SSBCI Funds 

Expendedd

# of 

Transactions

Total Financing 

Leveraged

Leverage 

Ratioe

Estimated # of Jobs Median Size 

of Business 

Supported (FTEs)

Median Age 

of Business 

Supported (Years)

Percent of Transactions

 to be 

Created

to be 

Retained

 in LMI Areas 

(by #)

 in LMI Areas 

(by $)

 in Non-Metro 

Areas (by #)

in Non-Metro 

Areas (by $)

Illinois

Capital Access Program CAP Public Agency $30,000 $20,470 $0 $0 68.2% 12 $644,898 31.50 x 54 47 1.5 6 16.7% 12.4% 0.0% 0.0%

Collateral Support Program Collateral Support Public Agency $1,622,500 $1,622,500

$2,889,283

$0 100.0% 5 $16,626,215 10.25 x 113 50 35 7 0.0% 0.0% 20.0% 76.6%

Conditional Direct Loan Program Loan Participation Public Agency $500,000 $500,000 $0 100.0% 1 $3,698,573 7.40 x 35 0 0 10 100.0% 100.0% 0.0% 0.0%

Participation Loan Program Loan Participation Public Agency $70,516,215 $59,291,702 $4,450,000 84.1% 198 $512,877,716 8.65 x 2,363 1,197 13 6 36.4% 49.3% 15.7% 7.3%

Venture Capital Program Venture Capital Public Agency $6,051,000 $6,051,000 $0 100.0% 24 $129,975,502 21.48 x 392 176 4 2.5 16.7% 30.0% 0.0% 0.0%

Total $78,719,715 $67,485,672 $2,889,283 $4,450,000 89.4% 240 $663,822,904 9.43 x 2,957 1,470 10 6 32.9% 44.5% 13.3% 7.5%

Indiana

Indiana Capital Access Program CAP Quasi-Public Agency $400,000 $393,528 $0 $0 98.4% 140 $9,632,054 24.48 x 165 344 3 4 32.1% 24.9% 8.6% 8.2%

State Venture Capital Program Venture Capital Co-Investment Model; SSE $34,094,392 $19,159,498 $685,625 $0 56.2% 101 $58,270,436 3.04 x 448 338 6 3 28.7% 17.8% 5.0% 6.9%

Total $34,494,392 $19,553,026 $685,625 $0 58.7% 241 $67,902,490 3.36 x 613 681 5 4 30.7% 18.8% 7.1% 7.1%

Iowa

Iowa Capital Access Program CAP Private Agency $9,624 $9,624 $0 $0 100.0% 3 $215,563 22.40 x 5 1 1 20 0.0% 0.0% 100.0% 100.0%

Iowa Small Business Loan Program Loan Participation Private Agency $31,455 $31,455

$157,709

$0 100.0% 14 $416,400 13.24 x 13 15 1 0 50.0% 56.6% 14.3% 17.4%

Iowa Demonstration Fund Program Venture Capital State Agency $13,082,082 $8,200,000 $0 62.7% 28 $45,234,800 5.52 x 285 188 6.5 3 17.9% 5.8% 7.1% 1.5%

Total $13,123,161 $8,241,080 $157,709 $0 64.0% 45 $45,866,763 5.46 x 303 204 4 2 26.7% 6.3% 15.6% 2.2%

Kansas

Kansas Capital Multiplier Loan Fund Loan Participation Quasi-Public Agency $9,277,406 $8,642,818 $346,080 $1,255,243 93.2% 66 $169,732,883 19.64 x 648 434 7.75 3 37.9% 42.6% 40.9% 49.9%

Kansas Capital Multiplier Venture Fund Venture Capital Co-Investment Model $3,950,505 $3,782,045 $0 95.7% 26 $61,838,293 16.35 x 600 87 4.5 2 30.8% 39.9% 23.1% 19.4%

Total $13,227,911 $12,424,863 $346,080 $1,255,243 96.5% 92 $231,571,176 18.13 x 1,248 521 6.75 3 35.9% 41.9% 35.9% 41.8%

Kentucky

Kentucky Capital Access Program CAP Public Agency $6,102 $3,102 $2,202 $0 50.8% 2 $105,306 33.95 x 15 2 28 10 50.0% 62.0% 0.0% 0.0%

Kentucky Collateral Support Program Collateral Support Public Agency $15,280,920 $14,328,089

$103,063

$0 93.8% 155 $115,601,318 8.07 x 1,103 1,280 5 6 44.5% 53.8% 45.2% 47.7%

Kentucky Loan Participation Program Loan Participation Public Agency $271,029 $271,029 $0 100.0% 4 $6,445,147 23.78 x 4 16 6 3 25.0% 6.4% 100.0% 100.0%

Total $15,558,051 $14,602,221 $105,265 $0 94.5% 161 $122,151,772 8.31 x 1,122 1,298 5 5 44.1% 51.3% 46.0% 50.4%

Louisiana

Small Business Loan Guarantee Loan Guarantee Public Agency $7,639,228 $5,109,272

$203,365

$0 66.9% 42 $26,949,773 5.27 x 452 432 6 2 23.8% 26.6% 16.7% 30.7%

Louisiana Seed Capital Program Venture Capital Fund $4,775,767 $3,510,000 $0 73.5% 43 $28,696,084 8.18 x 466 368 3 2 14.0% 7.3% 0.0% 0.0%

Total $12,414,995 $8,619,272 $203,365 $0 71.1% 85 $55,645,857 6.31 x 918 800 4 2 18.8% 16.6% 8.2% 14.8%

Maine

Economic Recovery Loan Fund Loan Participation Quasi-Public Agency $3,727,911 $1,693,021 $0 45.4% 7 $16,577,011 9.79 x 26 129 14 2 28.6% 47.8% 42.9% 37.1%

Regional Economic Development Revolving Loan Program Loan Participation Quasi-Public Agency $4,683,165 $3,003,394 $252,948 $0 64.1% 41 $23,075,955 7.68 x 170 165 3 2 26.8% 18.3% 36.6% 18.6%

Small Enterprise Growth Fund Venture Capital SSE $4,816,835 $3,374,512 $0 70.1% 26 $17,704,428 5.25 x 138 398 10 5 23.1% 32.4% 7.7% 4.1%

Total $13,227,911 $8,070,926 $252,948 $0 62.9% 74 $57,357,394 6.89 x 334 692 6 3 25.7% 31.2% 27.0% 19.5%

Maryland

MIDFA Loan Guarantee Public Agency $827,778 $724,164

$320,500

$0 87.5% 7 $11,671,500 16.12 x 93 234 9 10 42.9% 89.1% 0.0% 0.0%

MSBDFA Loan Guaranty Loan Guarantee Public Agency $1,485,000 $232,250 $0 15.6% 11 $2,043,000 8.80 x 65 107 1 2 36.4% 57.4% 0.0% 0.0%

DHCD - Neighborhood Business Works Program Loan Participation Public Agency $1,500,000 $925,000 $0 61.7% 3 $13,525,962 14.62 x 157 8 2 1 33.3% 84.0% 0.0% 0.0%

Maryland Venture Fund IV Venture Capital SSE $19,212,931 $11,923,356 $0 62.1% 34 $378,004,910 31.70 x 758 829 17 6 20.6% 36.2% 0.0% 0.0%

Total $23,025,709 $13,804,770 $320,500 $0 61.3% 55 $405,245,372 28.69 x 1,073 1,178 15 6 27.3% 39.4% 0.0% 0.0%

(continued)
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX B 57

Approved State Program Program Type

Type of Administering 

Entitya or VCP Strategyb Allocation

SSBCI Funds 

Expended for Loans 

or Investments

SSBCI Funds Expended 

for Program 

Administrationc

Recycled 

Funds 

Expended

Percent of 

SSBCI Funds 

Expendedd

# of 

Transactions

Total Financing 

Leveraged

Leverage 

Ratioe

Estimated # of Jobs Median Size 

of Business 

Supported (FTEs)

Median Age 

of Business 

Supported (Years)

Percent of Transactions

 to be 

Created

to be 

Retained

 in LMI Areas 

(by #)

 in LMI Areas 

(by $)

 in Non-Metro 

Areas (by #)

in Non-Metro 

Areas (by $)

Massachusetts

Capital Access Program CAP Public Agency $1,500,000 $1,249,809 $249,274 $63,592 83.3% 912 $40,814,149 32.66 x 728 5,428 3 5 24.8% 23.1% 2.5% 3.4%

MBDC Loan Participation Loan Participation Private Agency $5,013,000 $4,922,379 $183,556 $1,642,121 98.2% 16 $58,828,000 11.95 x 93 1,491 35 23 18.8% 29.9% 6.3% 5.1%

MGCC Loan Participation Loan Participation Quasi-Public Agency $14,001,536 $13,909,518 $2,723,057 99.3% 87 $33,265,150 2.39 x 474 3,739 22 18 33.3% 35.4% 1.1% 2.0%

Total $20,514,536 $20,081,705 $432,831 $4,428,770 100.0% 1,015 $132,907,299 6.48 x 1,295 10,658 4 6 25.4% 29.2% 2.5% 3.8%

Michigan

CAP Program CAP Quasi-Public Agency $2,200,000 $1,563,282 $0 $0 71.1% 790 $79,538,921 50.88 x 1,238 3,958 3 5 31.0% 27.0% 43.8% 36.8%

Michigan Business Growth Fund/ Collateral Support Collateral Support Quasi-Public Agency $44,166,888 $43,808,853

$2,203,003

$23,143,627 99.2% 89 $322,788,748 7.37 x 3,672 472 29 15 31.5% 28.8% 22.5% 22.0%

Michigan Loan Guarantee Program Loan Guarantee Quasi-Public Agency $2,000,000 $305,955 $0 15.3% 38 $5,483,330 17.92 x 172 155 3 3.5 63.2% 64.6% 2.6% 2.0%

Michigan Business Growth Fund/ Loan Participations Loan Participation Quasi-Public Agency $25,148,889 $24,796,758 $3,544,575 98.6% 34 $99,512,700 4.01 x 1,292 133 15.5 15 61.8% 75.4% 58.8% 72.3%

Small Business Mezzanine Fund Venture Capital Fund $6,000,000 $2,607,109 $0 43.5% 11 $17,935,799 6.88 x 124 0 15 3 45.5% 42.9% 0.0% 0.0%

Total $79,515,777 $73,081,957 $2,203,003 $26,688,202 94.7% 962 $525,259,498 6.98 x 6,498 4,718 4 5 33.6% 38.2% 40.2% 32.8%

Minnesota

Capital Access Program CAP Public Agency $500,000 $385,238 $22,524 $0 77.0% 94 $24,315,169 63.12 x 345 737 2 6 47.9% 37.3% 18.1% 30.2%

General Loan Guarantee Program Loan Guarantee Public Agency $1,470,215 $1,397,115 $0 95.0% 9 $39,703,319 28.42 x 121 182 22 2 66.7% 51.2% 44.4% 47.0%

Emerging Entrepreneurs Fund Loan Participation Public Agency $6,862,908 $6,153,075 $432,085 $543,943 89.7% 166 $69,828,759 11.35 x 679 1,439 2 2.5 52.4% 35.4% 16.3% 24.9%

Angel Loan Fund Venture Capital Co-Investment Model $6,700,000 $3,496,700 $0 52.2% 23 $41,071,157 11.75 x 157 179 4 4 39.1% 38.2% 0.0% 0.0%

Total $15,533,123 $11,432,128 $454,609 $543,943 76.5% 292 $174,918,405 14.72 x 1,302 2,537 2 4 50.3% 39.9% 16.4% 24.8%

Mississippi

Small Business Loan Guaranty Program Loan Guarantee Public Agency $13,227,911 $11,753,551 $4,100 $0 88.9% 119 $85,139,656 7.24 x 796 212 2 1 27.7% 24.8% 47.1% 59.6%

Total $13,227,911 $11,753,551 $4,100 $0 88.9% 119 $85,139,656 7.24 x 796 212 2 1 27.7% 24.8% 47.1% 59.6%

Missouri

Grow Missouri Loan Fund Loan Participation Quasi-Public Agency $2,206,742 $2,094,293

$910,907

$0 94.9% 3 $16,960,711 8.10 x 31 111 22 10 33.3% 44.9% 0.0% 0.0%

Missouri IDEA Fund Venture Capital SSE $24,845,359 $20,781,781 $284,101 83.6% 90 $356,884,466 17.17 x 1,217 253 2 3 47.8% 34.9% 2.2% 0.7%

Total $27,052,101 $22,876,073 $910,907 $284,101 87.9% 93 $373,845,177 15.72 x 1,248 364 2 3 47.3% 35.3% 2.2% 0.6%

Montana

Loan Participation Program Loan Participation Public Agency $12,819,143 $12,303,853 $465,953 $0 96.0% 50 $120,918,506 9.83 x 825 185 10 10.5 30.0% 33.4% 56.0% 35.5%

Total $12,819,143 $12,303,853 $465,953 $0 99.6% 50 $120,918,506 9.47 x 825 185 10 10.5 30.0% 33.4% 56.0% 35.5%

Nebraska

Nebraska Progress Loan Fund Loan Participation Public Agency $9,240,980 $9,000,000

$473,604

$1,513,156 97.4% 15 $69,688,437 7.74 x 304 106 6 4 33.3% 25.6% 80.0% 93.7%

Nebraska Progress Seed Fund Venture Capital SSE $3,927,370 $2,961,500 $0 75.4% 39 $20,955,890 7.08 x 48 89 3 0 61.5% 44.9% 10.3% 14.2%

Total $13,168,350 $11,961,500 $473,604 $1,513,156 94.4% 54 $90,644,327 7.29 x 352 195 3 0 53.7% 30.0% 29.6% 75.3%

Nevada

Nevada Collateral Support Program Collateral Support Public Agency $8,293,599 $6,020,406 $0 72.6% 15 $23,205,560 3.85 x 276 198 7 3 26.7% 11.0% 6.7% 26.2%

Nevada Microenterprise Initiative Loan Participation Public Agency $500,000 $0 $417,062 $0 0.0% 0 $0 N/A 0 0 N/A N/A N/A N/A N/A N/A

Battle Born Growth Escalator (BBGE) Venture Capital SSE $5,000,000 $2,600,000 $0 52.0% 7 $15,720,000 6.05 x 207 103 9 2 42.9% 37.3% 0.0% 0.0%

Total $13,793,599 $8,620,406 $417,062 $0 65.5% 22 $38,925,560 4.31 x 483 301 8 2 31.8% 21.6% 4.5% 15.6%

New Hampshire

Capital Access Program CAP Quasi-Public Agency $454,895 $454,887 $0 $0 100.0% 300 $14,169,520 31.15 x 242 1,672 2 6 38.0% 25.8% 60.0% 46.0%

Collateral Shortfall Program Collateral Support Quasi-Public Agency $2,594,851 $2,594,851

$51,000

$0 100.0% 7 $31,380,195 12.09 x 92 320 50 31 0.0% 0.0% 28.6% 46.5%

Loan Guarantee Reserves Loan Guarantee Quasi-Public Agency $2,813,821 $2,813,820 $0 100.0% 8 $40,995,807 14.57 x 31 769 31 20 12.5% 3.7% 37.5% 29.3%

Aid to Local Development Organizations Loan Participation Quasi-Public Agency $4,815,400 $4,764,400 $0 98.9% 20 $28,943,087 6.07 x 226 1,000 20 4 25.0% 11.7% 15.0% 1.9%

Venture Capital Fund Venture Capital Fund $2,489,383 $1,975,763 $0 79.4% 15 $61,442,726 31.10 x 170 270 10 2 53.3% 60.2% 46.7% 39.8%

Total $13,168,350 $12,603,720 $51,000 $0 96.1% 350 $176,931,335 13.98 x 761 4,031 3 6 36.6% 25.7% 55.7% 32.8%

(continued)
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX B 58

Approved State Program Program Type

Type of Administering 

Entitya or VCP Strategyb Allocation

SSBCI Funds 

Expended for Loans 

or Investments

SSBCI Funds Expended 

for Program 

Administrationc

Recycled 

Funds 

Expended

Percent of 

SSBCI Funds 

Expendedd

# of 

Transactions

Total Financing 

Leveraged

Leverage 

Ratioe

Estimated # of Jobs Median Size 

of Business 

Supported (FTEs)

Median Age 

of Business 

Supported (Years)

Percent of Transactions

 to be 

Created

to be 

Retained

 in LMI Areas 

(by #)

 in LMI Areas 

(by $)

 in Non-Metro 

Areas (by #)

in Non-Metro 

Areas (by $)

New Jersey

New Jersey Credit Guarantee Program Loan Guarantee Quasi-Public Agency $3,227,500 $2,227,500

$0

$0 69.0% 7 $4,455,000 2.00 x 49 49 7 20 0.0% 0.0% 0.0% 0.0%

New Jersey Direct Loan Program Loan Participation Quasi-Public Agency $9,250,000 $7,384,500 $0 79.8% 8 $23,038,000 3.12 x 184 297 12 12 37.5% 47.8% 0.0% 0.0%

New Jersey Loan Participation Program Loan Participation Quasi-Public Agency $16,071,686 $10,313,900 $0 64.2% 20 $37,589,044 3.64 x 224 644 26 15.5 35.0% 31.3% 0.0% 0.0%

New Jersey Venture Capital Fund Program Venture Capital Fund $5,345,965 $5,345,965 $0 100.0% 38 $58,524,010 10.95 x 504 174 21 2 5.3% 4.4% 0.0% 0.0%

Total $33,895,151 $25,271,865 $0 $0 74.6% 73 $123,606,054 4.89 x 961 1,164 17 3 16.4% 20.5% 0.0% 0.0%

New Mexico

New Mexico Loan Participation Program Loan Participation Public Agency $8,227,911 $7,837,387

$262,284

$385,072 95.3% 17 $51,794,930 6.61 x 212 13 5 7 35.3% 28.8% 17.6% 27.2%

New Mexico Micro Fund-of-Funds Venture Capital Public Agency $5,000,000 $0 $0 0.0% 0 $0 N/A 0 0 N/A N/A N/A N/A N/A N/A

Total $13,227,911 $7,837,387 $262,284 $385,072 61.2% 17 $51,794,930 6.39 x 212 13 5 7 35.3% 28.8% 17.6% 27.2%

New York

New York Capital Access Program CAP Public Agency $7,923,570 $2,703,021 $250,026 $0 34.1% 1,580 $50,290,401 18.61 x 2,198 4,084 1 4 65.5% 48.6% 0.6% 2.6%

Bonding Guarantee Assistance Program Loan Guarantee Public Agency $10,405,173 $6,985,000

$779,654

$0 67.1% 19 $35,400,000 5.07 x 0 0 8 11 26.3% 25.4% 0.0% 0.0%

Innovate New York Fund Venture Capital Fund $37,273,149 $31,610,506 $0 84.8% 165 $611,578,793 19.35 x 887 1,039 5 3 18.8% 29.7% 5.5% 2.2%

Total $55,601,892 $41,298,527 $1,029,680 $0 76.1% 1,764 $697,269,194 16.47 x 3,085 5,123 1 4 60.7% 30.8% 1.1% 2.1%

North Carolina

North Carolina Capital Access Program CAP Private Agency $1,761,319 $690,269 $1,071,050 $66,478 39.2% 377 $34,828,561 50.46 x 1,473 3,043 4 3 17.0% 8.6% 7.7% 8.2%

North Carolina Loan Participation Program Loan Participation Private Agency $34,208,338 $33,546,961

$614,794

$8,766,080 98.1% 303 $351,437,318 10.48 x 1,704 4,670 9 9 17.5% 21.8% 23.8% 18.5%

North Carolina Venture Capital Fund-of-Funds Program Venture Capital Fund $10,300,000 $10,097,924 $0 98.0% 89 $320,792,760 31.77 x 556 1,079 6 4 31.5% 21.5% 3.4% 5.8%

Total $46,269,657 $44,335,154 $1,685,844 $8,832,559 99.5% 769 $707,058,639 15.36 x 3,733 8,792 5 5 18.9% 21.0% 13.5% 12.3%

North Dakota—Carrington

Credit Guarantee Program Collateral Support Private Agency $3,279,078 $2,763,850

$125,674

$300,000 84.3% 20 $7,153,882 2.59 x 33 80 3.5 2 10.0% 8.3% 80.0% 82.4%

Seed Capital Network Program Venture Capital Fund $154,631 $125,000 $0 80.8% 1 $850,000 6.80 x 4 2 1 6 0.0% 0.0% 100.0% 100.0%

Total $3,433,709 $2,888,850 $125,674 $300,000 87.8% 21 $8,003,882 2.66 x 37 82 3 2 9.5% 7.4% 81.0% 84.3%

North Dakota—Mandan

Loan Participation Program Loan Participation Private Agency $9,734,641 $9,495,593 $239,048 $4,497,861 97.5% 44 $84,060,392 8.85 x 506 202 11 1.5 31.8% 20.4% 31.8% 18.6%

Total $9,734,641 $9,495,593 $239,048 $4,497,861 100.0% 44 $84,060,392 8.64 x 506 202 11 1.5 31.8% 20.4% 31.8% 18.6%

Northern Mariana Islands

CNMI Collateral Support Program Collateral Support Public Agency $8,478,157 $3,614,471

$163,629

$0 42.6% 31 $7,360,500 2.04 x 234 394 5 5 0.0% 0.0% 90.3% 89.8%

CNMI Loan Purchase Participation Program Loan Participation Public Agency $4,254,925 $602,268 $0 14.2% 7 $1,505,671 2.50 x 188 26 4 1 0.0% 0.0% 85.7% 80.1%

Total $12,733,082 $4,216,739 $163,629 $0 34.4% 38 $8,866,171 2.02 x 422 420 5 4 0.0% 0.0% 89.5% 88.2%

Ohio

Ohio Capital Access Program CAP Public Agency $521,451 $490,247 $0 $0 94.0% 245 $13,990,772 28.54 x 1,103 1,733 4 5 21.6% 23.4% 13.9% 13.8%

Small Business Collateral Enhancement Collateral Support Public Agency $46,386,699 $35,034,450

$1,386,641

$0 75.5% 299 $139,527,252 3.98 x 2,159 3,054 5 6 30.1% 22.6% 14.4% 13.2%

Targeted Investment Program Venture Capital State Agency $8,450,000 $7,593,725 $0 89.9% 7 $24,175,963 3.18 x 118 78 11 5 57.1% 69.9% 14.3% 6.2%

Total $55,358,150 $43,118,421 $1,386,641 $0 80.4% 551 $177,693,987 3.99 x 3,380 4,865 4 5 26.7% 29.1% 14.2% 12.3%

Oklahoma

Accelerate Oklahoma Fund Venture Capital SSE $13,227,911 $11,902,192 $445,719 $0 90.0% 49 $85,645,841 7.20 x 743 53 3 3 81.6% 81.1% 6.1% 2.5%

Total $13,227,911 $11,902,192 $445,719 $0 93.3% 49 $85,645,841 6.94 x 743 53 3 3 81.6% 81.1% 6.1% 2.5%

Oregon

Capital Access Program CAP Public Agency $166,197 $143,031 $16,416 $0 86.1% 88 $8,549,563 59.77 x 196 447 4 3 25.0% 18.1% 10.2% 3.1%

Credit Enhancement Fund Loan Guarantee Public Agency $12,924,704 $12,258,079

$501,254

$911,354 94.8% 163 $142,139,140 11.60 x 532 344 9 7 39.3% 36.0% 33.7% 25.4%

Oregon Business Development Fund Loan Participation Public Agency $3,500,000 $3,360,669 $100,000 96.0% 14 $24,974,411 7.43 x 159 18 15 7.5 35.7% 57.7% 21.4% 24.0%

Total $16,590,901 $15,761,779 $517,670 $1,011,354 98.1% 265 $175,663,114 10.79 x 887 809 7 5 34.3% 38.2% 25.3% 24.1%

(continued)
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX B 59

Approved State Program Program Type

Type of Administering 

Entitya or VCP Strategyb Allocation

SSBCI Funds 

Expended for Loans 

or Investments

SSBCI Funds Expended 

for Program 

Administrationc

Recycled 

Funds 

Expended

Percent of 

SSBCI Funds 

Expendedd

# of 

Transactions

Total Financing 

Leveraged

Leverage 

Ratioe

Estimated # of Jobs Median Size 

of Business 

Supported (FTEs)

Median Age 

of Business 

Supported (Years)

Percent of Transactions

 to be 

Created

to be 

Retained

 in LMI Areas 

(by #)

 in LMI Areas 

(by $)

 in Non-Metro 

Areas (by #)

in Non-Metro 

Areas (by $)

Pennsylvania

Machinery and Equipment Loan Fund Loan Participation Public Agency $9,000,000 $3,413,000 $0 37.9% 2 $6,993,734 2.05 x 0 193 96.5 64 50.0% 16.8% 0.0% 0.0%

Pennsylvania Community Development Bank Program Loan Participation Public Agency $6,512,500 $4,790,972 $597,648 73.6% 109 $38,679,489 8.07 x 390 528 1 2 54.1% 46.8% 13.8% 11.7%

Pennsylvania Economic Development Finance Authority 

Program

Loan Participation Public Agency $8,504,928 $5,209,481 $294,395 $288,738 61.3% 33 $61,380,476 11.78 x 512 1,175 10 6 24.2% 15.6% 21.2% 8.0%

Ben Franklin Technology Partners and Life Sciences 

Greenhouse Partners

Venture Capital SSE $5,000,000 $4,905,022 $178,715 98.1% 45 $134,257,622 27.37 x 226 261 3 4 33.3% 26.1% 8.9% 5.8%

Total $29,017,428 $18,318,475 $294,395 $1,065,101 64.1% 189 $241,311,321 12.96 x 1,128 2,157 2 3 43.9% 26.5% 13.8% 7.1%

Puerto Rico

Loan Participation Loan Participation Quasi-Public Agency $13,605,823 $13,605,823

$0

$12,010,800 100.0% 39 $55,846,535 4.10 x 1,503 2,637 35 9 25.6% 16.3% 7.7% 6.9%

Venture Capital Venture Capital SSE $1,000,000 $1,000,000 $0 100.0% 1 $9,050,000 9.05 x 300 101 101 1 0.0% 0.0% 0.0% 0.0%

Total $14,605,823 $14,605,823 $0 $12,010,800 100.0% 40 $64,896,535 4.44 x 1,803 2,738 37 8.5 25.0% 14.0% 7.5% 5.9%

Rhode Island

Small Business Loan Fund Loan Participation Quasi-Public Agency $2,168,350 $300,000 $0 13.8% 2 $4,730,000 15.77 x 5 67 33.5 42.5 0.0% 0.0% 0.0% 0.0%

Betaspring Venture Capital Fund $2,000,000 $1,869,284 $238,024 $0 93.5% 53 $15,969,371 8.54 x 18 105 2 0 83.0% 71.4% 0.0% 0.0%

Slater Technology Fund Venture Capital SSE $9,000,000 $5,808,737 $0 64.5% 31 $100,754,839 17.35 x 112 183 5 2 41.9% 37.1% 0.0% 0.0%

Total $13,168,350 $7,978,021 $238,024 $0 62.4% 86 $121,454,210 14.78 x 135 355 2 0 66.3% 40.1% 0.0% 0.0%

South Carolina

South Carolina Capital Access Program CAP Private Agency $130,716 $130,716 $0 $0 100.0% 44 $6,717,112 51.39 x 82 686 15.5 6 25.0% 24.3% 11.4% 12.5%

South Carolina Loan Participation Program Loan Participation Private Agency $17,941,071 $17,941,071 $0 $9,231,812 100.0% 161 $168,632,247 9.40 x 571 2,011 10 8 21.7% 19.9% 14.3% 14.2%

Total $18,071,787 $18,071,787 $0 $9,231,812 100.0% 205 $175,349,359 9.70 x 653 2,697 10 8 22.4% 20.1% 13.7% 14.1%

South Dakota

South Dakota Works Loan Program Loan Participation Public Agency $13,227,911 $7,988,045 $199,153 $0 60.4% 17 $65,679,557 8.22 x 401 311 45 9 47.1% 59.7% 17.6% 14.4%

Total $13,227,911 $7,988,045 $199,153 $0 61.9% 17 $65,679,557 8.02 x 401 311 45 9 47.1% 59.7% 17.6% 14.4%

Tennessee

INCITE Fund Venture Capital Co-Investment Model $29,806,278 $28,684,688 $1,044,019 $0 96.2% 89 $159,683,309 5.57 x 399 1,154 7 3 41.6% 35.1% 12.4% 11.9%

Total $29,806,278 $28,684,688 $1,044,019 $0 99.7% 89 $159,683,309 5.37 x 399 1,154 7 3 41.6% 35.1% 12.4% 11.9%

Texas

CDFIs for Texas-Loan Participation Programs Loan Participation Public Agency $2,600,000 $146,000

$1,455,210

$0 5.6% 6 $292,000 2.00 x 10 2 0 0 66.7% 86.6% 50.0% 27.4%

Jobs for Texas-Venture Capital Venture Capital Fund $44,164,445 $39,821,411 $1,699,156 90.2% 51 $552,755,525 13.88 x 695 779 7 6 19.6% 26.7% 2.0% 1.3%

Total $46,764,445 $39,967,411 $1,455,210 $1,699,156 88.6% 57 $553,047,525 13.35 x 705 781 6 4 24.6% 26.8% 7.0% 1.4%

U.S. Virgin Islands

Collateral Support Collateral Support Public Agency $1,770,387 $1,194,825 $0 67.5% 20 $3,257,390 2.73 x 56 128 5 1.5 15.0% 4.9% 100.0% 100.0%

Loan Guarantees Loan Guarantee Public Agency $10,985,112 $5,555,872 $283,757 $0 50.6% 16 $15,487,000 2.79 x 105 217 11.5 4 12.5% 5.3% 100.0% 100.0%

Payment, Surety, and Performance Bonding Program Loan Guarantee Public Agency $472,413 $0 $0 0.0% 0 $0 N/A 0 0 N/A N/A N/A N/A N/A N/A

Total $13,227,911 $6,750,697 $283,757 $0 53.2% 36 $18,744,390 2.66 x 161 345 7 2 13.9% 5.3% 100.0% 100.0%

Utah

Utah Small Business Loan Guarantee Program Loan Guarantee Private Agency $3,953,182 $2,151,382 $1,298,657 54.4% 28 $31,730,340 14.75 x 271 1,500 14.5 7 39.3% 20.1% 14.3% 0.6%

Utah Small Business Loan Participation Program Loan Participation Private Agency $6,466,865 $5,171,927 $464,531 $0 80.0% 6 $21,250,000 4.11 x 90 91 15 8.5 50.0% 18.1% 0.0% 0.0%

Equity Investment Program Venture Capital Fund $1,394,989 $950,001 $0 68.1% 4 $8,737,570 9.20 x 11 12 16.5 2 25.0% 57.3% 0.0% 0.0%

Total $11,815,036 $8,273,310 $464,531 $1,298,657 74.0% 38 $61,717,910 7.06 x 371 1,603 15 7 39.5% 24.7% 10.5% 0.3%

Vermont

Commercial Participation Program Loan Participation Quasi-Public Agency $8,078,008 $7,848,615

$0

$4,399,583 97.2% 70 $125,136,946 15.94 x 1,191 201 17.5 16 14.3% 41.0% 61.4% 53.7%

Small Business Participation Program Loan Participation Quasi-Public Agency $5,149,903 $5,149,903 $0 100.0% 104 $52,089,880 10.11 x 550 12 4 8.5 13.5% 11.5% 70.2% 66.2%

Total $13,227,911 $12,998,518 $0 $4,399,583 98.3% 174 $177,226,826 13.63 x 1,741 213 8 10 13.8% 32.3% 66.7% 57.4%

(contiruned)
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX B 60

Approved State Program Program Type

Type of Administering 

Entitya or VCP Strategyb Allocation

SSBCI Funds 

Expended for Loans 

or Investments

SSBCI Funds Expended 

for Program 

Administrationc

Recycled 

Funds 

Expended

Percent of 

SSBCI Funds 

Expendedd

# of 

Transactions

Total Financing 

Leveraged

Leverage 

Ratioe

Estimated # of Jobs Median Size 

of Business 

Supported (FTEs)

Median Age 

of Business 

Supported (Years)

Percent of Transactions

 to be 

Created

to be 

Retained

 in LMI Areas 

(by #)

 in LMI Areas 

(by $)

 in Non-Metro 

Areas (by #)

in Non-Metro 

Areas (by $)

Virginia

Virginia Capital Access Program CAP Public Agency $400,000 $285,279 $0 $0 71.3% 134 $9,486,435 33.25 x 1,419 1,133 4 5 39.6% 39.0% 35.8% 24.2%

Cash Collateral Program Collateral Support Public Agency $14,134,394 $13,313,871 $4,685,111 94.2% 126 $59,494,228 4.47 x 817 1,098 5 6 34.9% 24.3% 19.0% 12.6%

Economic Development Loan Fund Loan Participation Public Agency $500,000 $500,000 $476,998 $0 100.0% 1 $3,000,000 6.00 x 10 65 65 5 100.0% 100.0% 0.0% 0.0%

Center for Innovative Technology (CIT) GAP Fund Venture Capital SSE $3,000,000 $2,877,532 $0 95.9% 31 $43,026,553 14.95 x 718 235 6 2 6.5% 4.9% 0.0% 0.0%

Total $18,034,394 $16,976,682 $476,998 $4,685,111 96.8% 292 $115,007,216 6.59 x 2,964 2,531 5 5 34.2% 20.2% 24.7% 8.5%

Washington

Capital Access Program CAP Public Agency $91,772 $47,750 $44,022 $0 52.0% 4 $945,034 19.79 x 20 15 14.5 4.5 25.0% 21.2% 0.0% 0.0%

Collateral Support Program Collateral Support Public Agency $5,497,434 $2,721,389 $0 49.5% 10 $20,520,115 7.54 x 72 215 26.25 11 50.0% 42.6% 20.0% 16.2%

Craft3 Fund Loan Participation Private Agency $9,222,515 $9,222,515 $488,207 $1,455,000 100.0% 50 $106,226,763 11.52 x 691 942 18 12.5 56.0% 85.0% 20.0% 38.6%

W Fund Venture Capital Fund $5,000,000 $5,000,000 $0 100.0% 24 $51,138,479 10.23 x 71 59 3 1 8.3% 3.6% 0.0% 0.0%

Total $19,811,721 $16,991,654 $532,229 $1,455,000 88.5% 88 $178,830,391 10.20 x 854 1,231 12.5 6 40.9% 56.5% 13.6% 24.8%

West Virginia

West Virginia Collateral Support Program Collateral Support Quasi-Public Agency $818,823 $788,600

$350,019

$0 96.3% 5 $5,059,800 6.42 x 29 99 14 16 40.0% 39.1% 80.0% 98.9%

West Virginia Loan Guarantee Program Loan Guarantee Quasi-Public Agency $70,388 $58,000 $0 82.4% 2 $320,000 5.52 x 14 25 11.5 5.5 50.0% 56.3% 50.0% 43.8%

Subordinated Debt Program Loan Participation Quasi-Public Agency $5,388,998 $4,960,000 $180,000 92.0% 21 $41,581,044 8.38 x 386 149 9 1 23.8% 7.3% 47.6% 57.7%

Seed Capital Co-investment Fund Venture Capital SSE $6,949,702 $6,467,500 $130,059 93.1% 39 $55,569,971 8.59 x 347 273 3 4 41.0% 84.5% 17.9% 7.9%

Total $13,227,911 $12,274,100 $350,019 $310,059 95.4% 67 $102,530,815 8.12 x 776 545 4 4 35.8% 50.9% 32.8% 32.7%

Wisconsin

WHEDA Guarantee Loan Guarantee Quasi-Public Agency $1,363,554 $0

$573,761

$0 0.0% 0 $0 N/A 0 0 N/A N/A N/A N/A N/A N/A

Wisconsin Equity Fund Venture Capital SSE; Fund $21,000,000 $13,174,691 $0 62.7% 77 $151,849,967 11.53 x 1,056 573 8 4 28.6% 38.1% 7.8% 5.7%

Total $22,363,554 $13,174,691 $573,761 $0 61.5% 77 $151,849,967 11.04 x 1,056 573 8 4 28.6% 38.1% 7.8% 5.7%

Wyoming—Laramie

Credit Guarantee Program Collateral Support Private Agency $12,606,719 $11,843,688

$481,962

$1,010,955 93.9% 71 $57,844,710 4.88 x 363 353 2 1 19.7% 13.3% 71.8% 43.4%

Seed Capital Network Program Venture Capital Fund $561,631 $451,831 $0 80.4% 11 $903,662 2.00 x 3 0 0 3 0.0% 0.0% 0.0% 0.0%

Total $13,168,350 $12,295,519 $481,962 $1,010,955 97.0% 82 $58,748,371 4.60 x 366 353 2 2 17.1% 13.1% 62.2% 42.8%

Total $1,460,130,382 $1,159,318,196 $35,381,617 $204,998,540 81.8% 21,963 $10,687,673,733 *8.95 x 79,193 161,476 3 5 42.9% 34.5% 10.9% 14.3%

* The SSBCI overall leverage ratio includes SSBCI funds expended for program administration
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX C 61

Appendix C: Top 50 SSBCI Lenders by Dollar 

Amount Loaned and by Number of Loans

Top 50 SSBCI Lenders by Dollar Amount Loaned

(Cumulative through 2016)

Rank Lender Name States Number of Loans Amount Loaned

Average Amount 

Loaned

1 Fifth Third Bank FL; IL; KY; MI;OH 117 $127,565,785 $1,090,306

2 Pacific Enterprise Bank CA 296 $124,283,158 $419,876

3 Yadkin Bank NC 129 $102,541,583 $794,896

4 Huntington National Bank IN; KY; MI; OH 347 $93,499,247 $269,450

5 Pacific Premier Bank CA 282 $58,295,579 $206,722

6 Zions First National Bank ID; UT 78 $55,860,398 $716,159

7 Wells Fargo Bank, National Association CA; KS; NM; SD; VA 18 $55,606,185 $3,089,233

8 ServisFirst Bank AL 53 $54,437,666 $1,027,126

9 NewBridge Bank NC 81 $52,198,617 $644,427

10 Columbia State Bank (dba West Coast Bank and Bank of Astoria) OR 72 $49,908,347 $693,171

11 Bank of Guam CA; GU; MP 82 $44,906,167 $547,636

12 Washington Trust Bank CO; ID 53 $44,273,735 $835,353

13 TD Bank, National Association DE; NH; NJ; VT 15 $38,446,568 $2,563,105

14 Bridge Bank, National Association CA 18 $37,685,600 $2,093,644

15 The Biltmore Bank of Arizona AZ 16 $35,658,706 $2,228,669

16 South State Bank GA; SC 60 $35,021,642 $583,694

17 Manufacturers and Traders Trust Company DE; MD; NJ; VA 12 $33,261,000 $2,771,750

18 City National Bank CA 23 $30,863,000 $1,341,870

19 Amarillo National Bank KS 3 $30,685,569 $10,228,523

20 D.L. Evans Bank ID; UT 31 $30,038,373 $968,980

21 Plaza Bank CA 72 $29,466,025 $409,250

22 AmericanWest Bank CA; UT 19 $28,104,740 $1,479,197

23 ANB Bank (formerly Capital West Bank) CO; WY-L 13 $28,064,129 $2,158,779

24 Celtic Bank Corporation CA 16 $27,750,000 $1,734,375

25 Torrey Pines Bank dba Western Alliance Bank CA 58 $27,671,672 $477,098

26 mBank MI 8 $27,576,237 $3,447,030

27 Village Bank and Trust IL 21 $27,251,165 $1,297,675

28 First Community Bank SC 29 $27,147,570 $936,123

29 North State Bank NC 41 $26,638,439 $649,718

30 Palmetto Bank SC 56 $26,631,685 $475,566

31 First Northern Bank of Dixon CA 28 $24,451,070 $873,253

32 Citizens Business Bank (formerly American Security Bank) CA 61 $23,623,581 $387,272

33 Reunion Bank of Florida FL; IL; KY; MI;OH 9 $23,439,000 $2,604,333

34 NBT Bank, National Association NH; VT 5 $23,168,720 $4,633,744

35 California Credit Union CA 26 $22,630,402 $870,400

36 The PrivateBank and Trust Company MI 2 $22,500,000 $11,250,000
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX C 62

Rank Lender Name States Number of Loans Amount Loaned

Average Amount 

Loaned

37

Glacier Bank (dba Citizens Community Bank, 1st Bank, 

and Mountain West Bank) ID; MT; WA; WY-L 48 $21,899,020 $456,230

38 Southern States Bank AL 45 $21,636,322 $480,807

39 Citizens Bank NI 4 $21,293,000 $5,323,250

40 Access National Bank VA 27 $20,800,800 $770,400

41 First Citizens Bank and Trust Company, Inc. SC 23 $20,262,973 $880,999

42 FirstMerit Bank, National Association IL; MI; OH 31 $19,287,727 $622,185

43 Centennial Bank FL 2 $19,229,650 $9,614,825

44 Ameris Bank FL; GA; SC 16 $19,116,100 $1,194,756

45 Bell State Bank & Trust ND-M 2 $19,050,000 $9,525,000

46 121 Financial Credit Union FL 12 $18,616,814 $1,551,401

47 Macon Bank, Inc. or Entegra Bank NC; SC 35 $17,923,172 $512,091

48 Valley Business Bank CA 30 $17,537,028 $584,568

49 Peoples National Bank, N.A. IL 5 $17,450,400 $3,490,080

50 Bank of Cascades ID;OR 13 $17,017,849 $1,309,065

Note: This chart does not include private lenders that are contractors for the state.
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX C 63

Top 50 SSBCI Lenders by Number of Loans

(Cumulative through 2016)

Rank Lender Name States Number of Loans Amount Loaned

Average Amount 

Loaned

1 Murphy Bank CA 631 $16,254,199 $25,759

2 Huntington National Bank IN; KY; MI; OH 347 $93,499,247 $269,450

3 Pacific Enterprise Bank CA 296 $124,283,158 $419,876

4 Pacific Premier Bank CA 282 $58,295,579 $206,722

5 Chemical Bank MI 177 $10,534,846 $59,519

6 Yadkin Bank NC 129 $102,541,583 $794,896

7 Mutual Bank MA 120 $3,956,821 $32,974

8 Fifth Third Bank FL; IL; KY; MI;OH 117 $127,565,785 $1,090,306

9 Commercial Bank MI 109 $7,930,427 $72,756

10 Branch Banking and Trust Company FL; NC; NJ; VA 103 $10,950,085 $106,312

11 Independent Bank MI 95 $6,065,741 $63,850

12 Bank of Guam CA; GU; MP 82 $44,906,167 $547,636

13 NewBridge Bank NC 81 $52,198,617 $644,427

14 Cape Cod Five MA 81 $3,189,197 $39,373

15 Zions First National Bank ID; UT 78 $55,860,398 $716,159

16 Columbia State Bank (dba West Coast Bank and Bank of Astoria) OR 72 $49,908,347 $693,171

17 Plaza Bank CA 72 $29,466,025 $409,250

18 Hillsdale County National Bank MI 72 $4,108,489 $57,062

19 First-Citizens Bank & Trust Company NC; VA 69 $3,669,570 $53,182

20 Isabella Bank MI 67 $4,106,483 $61,291

21 Enterprise Bank and Trust Company MA; NH 65 $3,913,511 $60,208

22 Community First Bank of Indiana IN; KY; MI; OH 64 $4,104,898 $64,139

23 Lake-Osceola State Bank MI 64 $3,422,193 $53,472

24 Seamens Bank MA 62 $2,091,128 $33,728

25 Citizens Business Bank (formerly American Security Bank) CA 61 $23,623,581 $387,272

26 South State Bank GA; SC 60 $35,021,642 $583,694

27 Torrey Pines Bank dba Western Alliance Bank CA 58 $27,671,672 $477,098

28 Mutual Federal Savings MA 57 $2,003,700 $35,153

29 Palmetto Bank SC 56 $26,631,685 $475,566

30 Select Bank & Trust Company NC 56 $9,224,509 $164,723

31 ServisFirst Bank AL 53 $54,437,666 $1,027,126

32 Washington Trust Bank CO; ID 53 $44,273,735 $835,353

33 Community Guaranty Savings Bank NH 53 $1,294,334 $24,421

34 Florence Savings Bank MA 49 $1,599,350 $32,640

35 Glacier Bank (dba Citizens Community Bank, 1st Bank, and Mountain West Bank) ID; MT; WA; WY-L 48 $21,899,020 $456,230

36 Wilmington Savings Fund Society, FSB DE 48 $12,355,111 $257,398

37 Citizens Savings Bank OH 48 $6,942,789 $144,641

38 First Colebrook Bank NH 47 $5,043,461 $107,308

39 Pacific Continental Bank OR 46 $5,564,758 $120,973

40 Southern States Bank AL 45 $21,636,322 $480,807

41 EVB VA 44 $6,119,571 $139,081

42 North State Bank NC 41 $26,638,439 $649,718
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX C 64

Rank Lender Name States Number of Loans Amount Loaned

Average Amount 

Loaned

43 Sunwest Bank CA; ID 40 $10,972,650 $274,316

44 Rockland Trust MA 39 $1,338,096 $34,310

45 CornerStone Bank, National Association VA 38 $2,868,346 $75,483

46 Westfield Bank MA 37 $288,552 $7,799

47 Macon Bank, Inc. or Entegra Bank NC; SC 36 $18,423,172 $511,755

48 Peoples Bank of Alabama AL 36 $15,537,340 $431,593

49 The Village Bank MA 35 $17,923,172 $512,091

50 DeMotte State Bank IN 33 $2,061,500 $62,470

Note: This chart does not include private lenders that are contractors for the state.
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX D 65

Appendix D: Top 25 SSBCI CDFIs by Amount 

Loaned and by Number of Loans

Top 25 SSBCI CDFI Lenders by Dollar Amount Loaned

(Cumulative through 2016)

Rank Lender Name States Number of Loans Amount Loaned

Average Amount 

Loaned

1 Craft3 WA 52 $109,556,763 $2,106,861

2 Opportunity Fund Northern California CA 6,302 $85,790,915 $13,613

3 Southwest Georgia United Empowerment Zone, Inc. (SWGAU) GA 8 $37,229,700 $4,653,713

4 Access to Capital for Entrepreneurs (ACE) GA 20 $33,004,716 $1,650,236

5 Great Falls Development Authority, Inc. MT 2 $31,442,078 $15,721,039

6 Northland Foundation MN 41 $26,290,732 $641,237

7 Albany Community Together, Inc. (ACT!) GA 18 $25,842,375 $1,435,688

8 Beneficial State Bank CA; OR 32 $23,575,231 $736,726

9 Metropolitan Consortium of Community Developers MN 110 $23,288,072 $211,710

10 Small Business Assistance Corporation GA 22 $22,789,582 $1,035,890

11 Clearinghouse Community Development Financial Institution AZ; CA 5 $20,695,000 $4,139,000

12 United Bank AL 178 $20,536,292 $115,372

13 Philadelphia Industrial Development Corporation PA 3 $20,208,625 $6,736,208

14 The Progress Fund PA 34 $17,591,310 $517,391

15 Community First Fund PA 15 $17,014,506 $1,134,300

16 Renaissance Economic Development Corporation NY 472 $15,385,195 $32,596

17 ACCION San Diego CA 670 $15,064,758 $22,485

18 Natural Capital Investment Fund, Inc. NC; WV 21 $14,425,293 $686,919

19 BankPlus MS 18 $13,455,408 $747,523

20 Community Bank of the Bay CA 20 $13,331,955 $666,598

21 PriorityOne Bank MS 17 $11,824,950 $695,585

22 Metropolitan Economic Development Association MN 17 $10,130,750 $595,926

23 Industrial Bank DC 10 $10,096,000 $1,009,600

24

Mountain Association for Community Economic Development, Inc. 

(MACED) KY 20 $9,919,110 $495,956

25 Kentucky Highlands Investment Corporation KY 8 $9,905,000 $1,238,125
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX D 66

Top 25 Largest SSBCI CDFI Lenders by Number of Loans

(Cumulative through 2016)

Rank Lender Name States Number of Loans Amount Loaned

Average Amount 

Loaned

1 Opportunity Fund Northern California CA 6,302 $85,790,915 $13,613

2 ACCION San Diego CA 670 $15,064,758 $22,485

3 Center for Community Development for New Americans, Inc. NY 552 $3,418,000 $6,192

4 Renaissance Economic Development Corporation NY 472 $15,385,195 $32,596

5 TMC Development Working Solutions CA 223 $5,134,512 $23,025

6 ACCION East, Inc. FL; NY 188 $1,511,643 $8,041

7 Fresno Community Development Financial Institution CA 185 $4,434,563 $23,971

8 United Bank AL 178 $20,536,292 $115,372

9 BOC Capital Corp. NY 170 $5,610,512 $33,003

10 Opening Doors, Inc. CA 130 $900,982 $6,931

11 Metropolitan Consortium of Community Developers MN 110 $23,288,072 $211,710

12 FORGE, Inc. AR 107 $1,259,128 $11,768

13 OBDC Small Business Finance CA 102 $2,751,035 $26,971

14

Excelsior Growth Fund, an affiliate of NYBDC Local Development 

Corporation NY 85 $6,752,400 $79,440

15 The Support Center NC 69 $2,402,157 $34,814

16 Economic and Community Development Institute (ECDI) OH 62 $2,940,029 $47,420

17 Craft3 WA 52 $109,556,763 $2,106,861

18 California Coastal Rural Development Corporation CA 48 $1,927,000 $40,146

19 First State Community Loan Fund DE 43 $2,630,612 $61,177

20 Community Capital New York, Inc NY 42 $1,646,383 $39,200

21 Economic Opportunities Fund PA 41 $372,450 $9,084

22 Northland Foundation MN 41 $26,290,732 $641,237

23 Community Financial Resource Center CA 41 $88,900 $2,168

24 Pan American Bank CA 38 $5,062,495 $133,224

25 ACCION New Mexico AZ; CO 35 $2,970,113 $84,860
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX E 67

Appendix E: SSBCI Program Types

Capital Access Programs

SSBCI Metrics for Capital Access Programs All States Except California California All States

Key Data

Number of CAP Programs 20 1 21

SSBCI Allocation ($ millions) $20 $20 $40 

SSBCI Allocation (% of Total Allocation) 1.4% 1.3% 2.7%

Transactions (#) 5,057 8,908 13,965

SSBCI Original Funds Expended ($ millions) $11 $17 $28

SSBCI Program Funds Expended ($ millions) $9 $15 $24 

SSBCI Administrative Funds Expended ($ millions) $2 $2 $4 

SSBCI Recycled Funds Expended ($) $150,782 $275,147 $425,929 

Average Loan Size ($) $47,900 $36,900 $40,900 

Average New Financing ($) $59,900 $37,900 $45,900 

Program Outputs

Percent Expended 54% 89% 71%

Leverage Ratio* 27.53 x 19.39 x 22.54 x

Program Outcomes

Total Jobs Supported 34,134 45,492 79,626

Jobs Created 9,800 4,753 14,553

Jobs Retained 24,334 40,739 65,073

SSBCI Loans in LMI Communities (% of total number of loans) 40% 52% 48%

Top Three Industries Assisted: Retail Trade Retail Trade Retail Trade

Other Services (except Public Administration) Accommodation and Food Services Accommodation and Food Services

Accommodation and Food Services Transportation and Warehousing Transportation and Warehousing

* Includes Administrative Expenses
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX E 68

Loan Guarantee Programs

SSBCI Metrics for Loan Guarantee Programs

Key Data:

Number of LGP Programs* 18

SSBCI Allocation ($ millions) $246 

SSBCI Allocation (% of Total Allocation) 17%

Transactions (#) 2,779

SSBCI Original Funds Expended ($ millions) $182

SSBCI Program Funds Expended ($ millions) $176 

SSBCI Administrative Funds Expended ($ millions)* $6 

SSBCI Recycled Funds Expended ($ millions) $69 

Average Loan Size ($) $453,000 

Average New Financing ($) $502,000 

Program Outputs:

Percent Expended 74%

Leverage Ratio** 7.66 x

Program Outcomes:

Total Jobs Supported 61,240

Jobs Created 16,793

Jobs Retained 44,447

SSBCI Loans in LMI Communities (% of total number of loans) 35%

Top Three Industries Assisted: Manufacturing

Construction

Retail Trade

* Administrative expenses are weighted estimates prorated by proportion of program 

transactions to total other credit support transactions

** Includes weighted administrative expenses

Collateral Support

SSBCI Metrics for Collateral Support Programs

Key Data:

Number of CSP Programs* 17

SSBCI Allocation ($ millions) $269 

SSBCI Allocation (% of Total Allocation) 18%

Transactions (#) 1,530

SSBCI Original Funds Expended ($ millions) $238

SSBCI Program Funds Expended ($ millions) $232 

SSBCI Administrative Funds Expended ($ millions)* $6 

SSBCI Recycled Funds Expended ($ millions) $44 

Average Loan Size ($) $730,000 

Average New Financing ($) $866,000 

Program Outputs:

Percent Expended 89%

Leverage Ratio** 5.57 x

Program Outcomes:

Total Jobs Supported 26,164

Jobs Created 12,105

Jobs Retained 14,059

SSBCI Loans in LMI Communities (% of total number of loans) 32%

Top Three Industries Assisted: Manufacturing

Accommodation 

and Food Services

Retail Trade

* Administrative expenses are weighted estimates prorated by proportion of program 

transactions to total other credit support transactions

** Includes weighted administrative expenses
SSBCI: Summary of States’ 2016 Annual Reports APPENDIX E 69

Loan Participation Programs

SSBCI Metrics for Loan Participation Programs

Key Data:

Number of LPP Programs* 37

SSBCI Allocation ($ millions) $474 

SSBCI Allocation (% of Total Allocation) 32%

Transactions (#) 2,065

SSBCI Original Funds Expended ($ millions) $419

SSBCI Program Funds Expended ($ millions) $408 

SSBCI Administrative Funds Expended ($ millions)* $11 

SSBCI Recycled Funds Expended ($ millions) $89 

Average Loan Size ($ millions) $1.2 

Average New Financing ($ millions) $1.5 

Program Outputs:

Percent Expended 88%

Leverage Ratio** 7.53 x

Program Outcomes:

Total Jobs Supported 49,381

Jobs Created 22,173

Jobs Retained 27,208

SSBCI Loans in LMI Communities (% of total number of loans) 33%

Top Three Industries Assisted: Manufacturing

Accommodation and 

Food Services

Health Care and 

Social Assistance

* Administrative expenses are weighted estimates prorated by proportion of program 

transactions to total other credit support transactions

** Includes weighted administrative expenses

Venture Capital Programs

SSBCI Metrics for Venture Capital Programs

Key Data:

Number of VC Programs 41

SSBCI Allocation ($ millions) $431 

SSBCI Allocation (% of Total Allocation) 30%

Transactions (#) 1,623

SSBCI Original Funds Expended ($ millions) $327

SSBCI Program Funds Expended ($ millions) $319 

SSBCI Administrative Funds Expended ($ millions)* $7 

SSBCI Recycled Funds Expended ($ millions) $3 

Average Loan Size ($ millions) $1.3 

Average New Financing ($ millions) $2.6 

Program Outputs:

Percent Expended 76%

Leverage Ratio** 12.76 x

Program Outcomes:

Total Jobs Supported 24,258

Jobs Created 13,569

Jobs Retained 10,689

SSBCI Investments in LMI Communities 

(% of total number of investments) 36%

Top Three Industries Assisted:

Professional, Scientific, 

and Technical Services

Information

Manufacturing

* Administrative expenses are weighted estimates prorated by proportion of program 

transactions to total other credit support transactions

** Includes weighted administrative expenses
SSBCI: Summary of States’ 2016 Annual Reports 70

Acknowledgements

Since 2010, the U.S. Treasury has supported the State Small Business Credit Initiative in partnership 

with state agencies and their contractors. The program benefited from the work of many talented and 

dedicated individuals.

We wish to thank the following people for their contributions to SSBCI and this report.

Treasury and Former Treasury Team

Cyrus Amir-Mokri

Peter Bieger

Tam Carlock 

Danielle Christensen 

James Clark

Linda Clark 

Tim Colon

Drew Colbert 

Dan Cruz 

Steve Davidson

Dan Dorman

Amias Gerety

Don Graves 

Jodie Harris 

Cliff Kellogg 

Maureen Klovers 

Kipp Kranbuhl

Jamie Lipsey 

Phyllis Love

Jessica Milano 

Mary Miller

Opal Moore 

Ruthanne Murray 

Richard Oettinger 

Karin Peabody 

Sarah Reed 

Katie Reilly 

David Rixter 

Roberto Rodriguez 

Jared Sawyer

Zakaria Shaikh

Mark Stevens 

Anita Washington

Technical Support

John Alex 

Abou Bakayoko

Brendan Buff 

Diane Casey-Landry 

David Cervantes 

Eric Cromwell 

Dennis Downer 

Sarah Gutschow

Ron Kelly 

David McGrady

Donna Nails

Brandon Poole

Ken Poole

Christina Prevalsky

Marty Romitti

Dan Schmisseur

George Surgeon

Somaree Taru

Kay Williams

Terry Valladares

Jeffrey Stout

Director, State Small Business Credit Initiative
www.treasury.gov/ssbci