STATE SMALL BUSINESS

CREDIT INITIATIVE:

A SUMMARY OF STATES’

QUARTERLY

REPORTS

DECEMBER 31, 2015
1

Summary

On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 

2010 (P.L. 111-240) (the Act), creating the State Small Business Credit Initiative (SSBCI). 

SSBCI provides $1.5 billion to new and existing state programs that support privatesector lending to, and investment in, small businesses and small manufacturers. 

SSBCI allows each State to design its own small business support programs in response 

to local economic conditions. SSBCI programs fall into two general categories - credit 

support programs (e.g., loan guarantee or loan participation programs) and statesponsored venture capital programs. States receive funding in three equal 

disbursements based on cumulative funds deployed.1

• States have drawn 95 percent of available funding: As of December 31, 2015, 

$1,383,634,692 out of $1,456,685,731 or 95 percent of total allocated funds was 

disbursed to the States.

2

 All 57 States received their first disbursement; 55 States 

received their second disbursement; 46 States received their third disbursement.

• States have deployed over $1.3 billion to support small business financing: 

Through December 31, 2015, States deployed a total of $1,306,210,625. Of this 

total, $1,156,937,270 was from original SSBCI allocations and $149,273,355 was

from recycled3 SSBCI funds. These funds support loans or investments to small 

businesses, including through financial institutions and intermediaries, and for 

administrative expenses related to the program.

• States generate over $7 in new financing for every $1 in federal support: 

Through 2014, SSBCI operations have generated $7.36 in new small business 

lending or investing for every $1 of federal support.4

 1 SSBCI funds deployed are those legally expended (used to support loans or investments or for administrative expenses), 

obligated (legally committed to support loans or investments or for administrative expenses), or transferred (to a contracting 

entity as reimbursement of expenses incurred or to fund a loan or investment). This includes obligations to venture capital 

funds not yet linked to specific small business investments. As of 12/31/14, Venture Capital Programs reported that the 

amount of funds deployed was 37% greater ($79 million) than the amount expended to small businesses. The variance was due 

to SSBCI dollars that were obligated for investment in a business or to a venture capital fund but not yet expended to a specific 

small business.

2 Treasury approved applications from 47 states, the District of Columbia, five territories, and municipalities in three states 

(collectively referred to as States).

3 “Recycled” funds refer to program income, interest earned, or principal repayments that States deploy to support new 

transactions.
2

SSBCI at Work: Featured Success Stories

Maine: Bringing Quality Gelato Products to a Statewide Market

Gelato Fiasco is a gelato 

company run by a team of two 

young entrepreneurs – Josh 

Davis and Bruno Tropeano, in 

Brunswick, Maine. With its retail 

locations a growing success, 

Davis and Tropeano wanted to 

expand Gelato Fiasco into the 

corporate wholesale market; 

however, they had limited 

collateral and conventional bank 

financing was not a viable option 

to fund the expansion. 

With approval from Finance Authority of Maine (FAME), the Maine Venture Fund provided initial 

financing for the business in the form of $200,000 of SSBCI funds to participate in an $850,000 

capital raise. The SSBCI investment, combined with $650,000 provided by a small private 

venture fund, provided much needed working capital to complete the build-out of expanded 

production space. 

Following the original loan, Gelato Fiasco expanded beyond its two retail locations and began to 

sell gelato products with its first wholesale customer, “The Fresh Market.” A wholesale 

breakthrough came in March 2015 when an additional 1,500 stores that are part of the Kroger 

family of stores began selling Gelato Fiasco products, thus necessitating significant follow-on 

funding. 

Later that year, FAME used SSBCI financing of $188,200 as the catalyst to leverage an additional 

$1.9 million in follow-on funding from SOURCE. Without the help of SSBCI program financing, 

the company would not have been able to secure the follow-on funding that allowed them to 

expand their production space further and install new manufacturing equipment. The additional 

financing also moved the company into full commercial banking eligibility with financing 

consisting of SSBCI, a community bank, use of a FAME guaranty, and owner equity. 

Since the time of SSBCI leveraged follow-on funding, the business has added 14 new jobs and 

now has 80 employees. Gelato Fiasco’s corporate customers include an expanding variety of 

regional and national grocery chains and the business has been recognized in a number of 

popular publications such as O Magazine, Bon Appetit, and Country Living. Thanks in part to 

SSBCI, Gelato Fiasco now has the capacity to further expand its growing wholesale business in 

out-of-state markets.
3

Indiana: Information is the New Superhighway

Located in South Bend, Indiana, and 

founded by Andrew Warzon, Jim 

Abercrombie, and Shane Fimbel in 

early 2014, Trek10 is an 

Infrastructure as a Service (IaaS) 

company helping customers across 

the country move their IT 

infrastructure to the cloud. 

Trek10 is globally recognized as 

having significant expertise in 

architecting and implementing 

solutions that leverage web services, 

and specializes in using cutting-edge offerings to design, build, and support new IT 

environments for their customers in the cloud.

In early 2015 with capital allocated by SSBCI, Elevate Ventures invested $150,000 in Trek10 as 

part of the company’s initial outside funding. Despite rapid growth, the young company had 

minimal revenue and did not qualify for a typical credit facility due to their short operating 

history and unpredictable cash flows. Trek10 needed capital to hire talented high-tech workers 

to build out their team and service the customers in their sales pipeline. The company 

leveraged the $150,000 commitment from Elevate Ventures to raise a total of $500,000 of 

convertible debt to accomplish those goals.

Since the infusion of SSBCI funds, Trek10 has created and retained six high-paying technologyrelated positions, four of which are located in Indiana, and has experienced a threefold growth 

in revenue from Q1 2015 – the quarter before financing – to Q4 2015. Their current clients 

include one of the largest airlines in North America, a major video game publisher, and one of 

the most popular household board game companies in the world. Continuing to build on their 

strong momentum, Trek10 raised $450,000 in equity funding at the end of 2015. This 

investment came from a highly strategic corporate venture investor who hopes to provide 

significant business development synergies along with additional growth capital.
4

U.S. Virgin Islands: Providing Advanced Eye Healthcare to the 

Caribbean

Plessen Eye, LLC, is a state-of-the-art 

ophthalmic ambulatory surgical 

center run by Dr. Jan Tawakol and Dr. 

Tasnim Khan, a husband-and-wife 

team, on the island of St. Croix. 

Although there was an increasing 

demand for ophthalmological 

services in the territory, Plessen Eye 

needed to finance improvements for 

the ophthalmic ambulatory surgical 

center. Since the center was the 

couples’ first business venture, a 

traditional bank loan was not an 

option.

With the support of SSBCI funding, Merchants Commercial Bank, an FDIC insured community 

bank, made an $850,000 term loan allowing Plessen to acquire equipment, make leasehold 

improvements, and open their business. 

Since the original loan, Plessen Eye has been able to help address the island’s backlog of 

patients awaiting cataract and other critical eye surgeries. The center has expanded to 15 full 

time employees and one part-time employee. 

“The territory has benefited tremendously by adding the state-of-the-art facility to the island’s 

healthcare system,” said Ro Khiani, chief lending officer at Merchants Commercial Bank. 

Ophthalmologists now have a place to perform critical eye surgeries in the Caribbean region to 

meet patient demand. 
5

Utah: Creating Jobs While Making Distilling History

With a background as a biochemist in the 

biopharmaceutical industry, a love of 

bourbon from being raised in Georgia, and 

a love of cooking, David Perkins knew he 

was fated to make whiskey. In 2007, David 

and his wife Jane opened High West 

Distillery, Utah’s first legal distillery since 

the 1870s in Park City. Now located on 

the secluded 3,500-acre Blue Sky Ranch in 

Wanship, Utah, High West Distillery 

produces award-winning craft American 

whiskies.

When High West decided to open its new location in Wanship, it needed to install high-end 

distilling equipment including massive copper whiskey stills custom built in Scotland (pictured). 

Due to the special nature of the distilling equipment being purchased and installed, as well as 

the remote location of the distillery, it could not secure traditional bank financing. With the help 

of the Utah Small Business Growth Initiative, the distillery received a SSBCI loan guarantee on 

$8.9 million in bank loans that would not been made without the loan guarantee. 

With the additional equipment purchased, High West has increased its production capacity from 

3,000 bottles per day to 24,000 bottles per day, and is distributing to 49 states and abroad. The 

distillery has also created 35 additional jobs. As one of the main attractions of the Blue Sky 

Ranch, the High West Distillery is the first piece of what the developer envisions as a multifunctional destination resort for corporate retreats and team-building activities. 
6

Georgia: Growing Rural Development

Located in Uvalda, Georgia, BG Williams Farms, LLC, is one of Georgia’s premier farmers of 

Vidalia onions and other produce. With farmers spanning several generations, owner Brett 

Williams decided to take his family business to new heights. 

BG Williams Farms was producing more crops than what they were able to quickly ship to the 

nearest facility to freeze and package for selling. Without cool storage, the crops were in 

danger of rotting before they could be sold. Williams was forced to bring in ice to help maintain 

the crops in storage until shipping; however, this solution was not cost effective for his 

operation as production continued to 

grow.

Williams sought funding for a $2.8 

million expansion and remodeling 

project, but was unable to secure 

traditional financing because the 

requested loan was too large for the 

local community bank. In partnership 

with the Bank of Hazelhurst, BG 

Williams Farms secured $1.4 million in 

SSBCI funds and $1.4 million from the 

bank to fund the project.

In addition to building and refurbishing two storage buildings with new machinery and 

equipment, purchasing and installing hydro coolers, and purchasing a new portion of land to 

build a vegetable house, BG Williams Farms retained seven jobs and created three new jobs. 

With the help of SSBCI, this financing project continues the development of rural Montgomery 

County as BG Williams Farms increases their business by exporting to Canada and other

markets.
7

Delaware: Moving Off-Shore IT Jobs to the U.S.

A woman-owned information technology firm, Alpha Technologies USA, Inc., provides costeffective turnkey IT business solutions and consulting services to a diverse and global clientele 

including Fortune 1000 companies, such as J.P. Morgan Chase, Guardian Life Insurance, C&S 

Wholesale Grocers, and Ann Taylor. With offices in five states and global offices in India, the 

Czech Republic and Poland, Alpha Technologies specializes in application support, software 

development, staff augmentation, 

system integration, infrastructure 

maintenance, data center 

maintenance and relocation 

services, GAP analysis, and 

corporate governance.

When owners Jamie Cruz-Virk and 

Harry Virk were looking to bring offshore IT jobs back to the U.S., they 

turned to the Delaware Economic 

Development Office (DEDO) and TD 

Bank. DEDO was able to partner 

with TD Bank to provide Alpha Technologies with a $500,000 SSBCI participation loan to close 

the gap, in the equity required by TD Bank, to purchase the property for a new office location in 

Wilmington, Delaware. In total, the company received $1.9 million in financing for the real 

estate purchase.

Access to SSBCI financing not only allowed Alpha Technologies to purchase the real estate to 

expand their business to Delaware, but will create 242 full-time jobs by December 2019. The 

company’s new offering, known as “On-Shore Off-Site” managed services, will reduce the IT 

challenges companies encounter when “off-shore”, including language barriers, increased travel 

costs and time, time zone constraints, knowledge transfer limitations, and reduced service 

quality.

In addition, to support their expansion into Delaware, Alpha Technologies will create an IT 

training center for new graduates, creating numerous local jobs which will aid social, economic, 

and cultural growth.
8

Figure 1.

Figure 2.

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$500

$600

$700

$800

$900

$1,000

$1,100

$1,200

$1,300

$1,400 Millions

Disbursements of SSBCI Allocations 

(Cumulative through December 31, 2015)

3rd Disbursement

2nd Disbursement

1st Disbursement

$0

$100

$200

$300

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$500

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$1,000

$1,100

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$1,400 Millions

SSBCI Funds Deployed

(Cumulative through December 31, 2015)

Recycled

Funds

Deployed

Allocation

Deployed
9

Figure 3.

Figure 4.

* For purposes of calculating percent of allocation deployed (expended, obligated or 

transferred), Treasury does not count any recycled SSBCI funds.

$0

$20,000,000

$40,000,000

$60,000,000

$80,000,000

$100,000,000

$120,000,000

$140,000,000

Recycled

Funds

Deployed

Allocation

Deployed

Top 20 States by Dollars of SSBCI Funds Deployed

(Cumulative through December 31, 2015)

100% 100% 100% 100% 100% 100% 100% 100% 100%

99% 99% 99%

98% 98%

97%

96% 96%

95%

94%

93%

80%

82%

84%

86%

88%

90%

92%

94%

96%

98%

100%

Top 20 States by Percentage of SSBCI Funds Deployed*

(Cumulative through December 31, 2015)
10

Figure 5.

Figure 6.

* For purposes of calculating percent of allocation deployed (expended, obligated or 

transferred), Treasury does not count any recycled SSBCI funds.

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

$35,000,000

$40,000,000

$45,000,000

Allocation

and

Recycled

Funds

Deployed

Top 20 States Year Over Year Change 

by Dollars of SSBCI Funds Deployed

52%

43%

36% 35% 34% 32%

27% 26% 26%

21% 20% 20% 18% 18% 18% 17% 17% 17% 16% 16%

0%

10%

20%

30%

40%

50%

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90%

100%

Top 20 States Year Over Year Change 

by Percentage of SSBCI Funds Deployed*
11

Figure 7.

Figure 8.

$45 m

$232 m

$261 m

$448 m

$471 m

$0 $100 $200 $300 $400 $500

CAP

Loan Guarantee

Collateral Support

Venture Capital

Loan Participation

Millions

Funds Allocated by Program Type 

(As of December 31, 2015)

84%

73%

83%

74%

40%

11%

0.3%

8% 31%

0.7%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

110%

Loan

Participation

Venture Capital Collateral

Support

Loan Guarantee CAP

Recycled

Funds

Deployed

Allocation

Deployed

Percentage of SSBCI Funds Depoyed by Program Type

(Cumulative through December 31, 2015)
12

Figure 9.

* For purposes of calculating percent of allocation deployed (expended, obligated or 

transferred), Treasury does not count any recycled SSBCI funds.

Figure 10.

$0

$20

$40

$60

$80

$100

$120

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$160

$180

NC

AZ

SC

OR

PR

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ND-M

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CO

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DE

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Millions

SSBCI Allocation Amount by State 

(As of December 31, 2015)

100100100100100100100100100 99 99 99 98 98 97 96 96 95 94 93 93 92 92 91 91

84 82 82 81 81 80 80 79 76 75 75 74 72 71 71 71 70 68 66 64 64 63 59

57 56 52

45 44 41 41

24

5

0%

10%

20%

30%

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50%

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90%

100%

NC

AZ

SC

OR

PR

NH

VT

ID

ND-M

IL

HI

MT

MO

KS

AR

TN

OK

CO

WY-L

MI

UT

TX

AL

VA

WV

MS

MA

IA

SD

ND-C

WA

NE

MN

NY

FL

AK-A

KY

GA

CA

OH

LA

GU

VI

NJ

IN

DE

PA

NV

CT

NM

WI

DC

ME

MD

RI

MP

AS

Percentage of SSBCI Allocation Deployed by State*

(As of December 31, 2015)
13

Appendix A: States Sorted by Percentage of SSBCI Allocation Deployed*

(As of 12/31/2015)

# State Agreement 

Date Allocated Amount** Original SSBCI Allocation Deployed Percent Recycled Funds Deployed

Total Funds 

Deployed***

1 North Carolina 5/23/2011 $46,061,319 $46,061,319 100% $2,545,585 $48,606,904 

2 Arizona 11/7/2011 $18,204,217 $18,204,217 100% $234,177 $18,438,394 

3 South Carolina 7/6/2011 $17,990,415 $17,990,415 100% $6,776,074 $24,766,489 

4 Oregon 8/29/2011 $16,516,197 $16,516,196 100% $234,474 $16,750,670 

5 Puerto Rico 10/6/2011 $14,540,057 $14,540,057 100% $4,320,559 $18,860,616 

6 New Hampshire 7/18/2011 $13,168,350 $13,168,350 100% $0 $13,168,350 

7 Vermont 5/23/2011 $13,168,350 $13,168,350 100% $3,020,940 $16,189,290 

8 Idaho 8/29/2011 $13,136,544 $13,136,544 100% $8,091,049 $21,227,593 

9 North Dakota, Mandan 8/31/2012 $9,734,641 $9,717,680 100% $3,875,733 $13,593,413 

10 Illinois 7/26/2011 $78,365,264 $77,196,927 99% $2,287,500 $79,484,427 

11 Hawaii 5/27/2011 $13,168,350 $13,064,096 99% $0 $13,064,096 

12 Montana 7/18/2011 $12,765,037 $12,655,361 99% $0 $12,655,361 

13 Missouri 5/23/2011 $26,930,294 $26,416,673 98% $784,101 $27,200,774 

14 Kansas 6/28/2011 $13,168,350 $12,858,758 98% $481,346 $13,340,104 

15 Arkansas 10/31/2011 $13,168,350 $12,778,101 97% $1,277,719 $14,055,820 

16 Tennessee 10/4/2011 $29,672,070 $28,590,552 96% $0 $28,590,552 

17 Oklahoma 7/18/2011 $13,168,350 $12,673,332 96% $0 $12,673,332 

18 Colorado 10/11/2011 $17,233,489 $16,330,764 95% $0 $16,330,764 

19 Wyoming, Laramie 12/4/2012 $13,168,350 $12,395,147 94% $0 $12,395,147 

20 Michigan 7/6/2011 $79,157,742 $73,377,674 93% $16,430,471 $89,808,145 

21 Utah 9/30/2011 $13,168,350 $12,310,388 93% $985,500 $13,295,888 

22 Texas 8/15/2011 $46,553,879 $42,651,499 92% $0 $42,651,499 

23 Alabama 8/24/2011 $31,301,498 $28,925,929 92% $45,135,953 $74,061,882 

24 Virginia 8/15/2011 $17,953,191 $16,392,458 91% $0 $16,392,458 

25 West Virginia 11/18/2011 $13,168,350 $11,925,332 91% $650,591 $12,575,923 

26 Mississippi 8/24/2011 $13,168,350 $11,336,794 86% $67,750 $11,404,544 

27 Massachusetts 9/13/2011 $20,445,072 $16,785,662 82% $2,158,033 $18,943,695 

28 Iowa 8/30/2011 $13,065,020 $10,695,289 82% $0 $10,695,289 

29 South Dakota 9/22/2011 $13,168,350 $10,678,215 81% $0 $10,678,215 

30 North Dakota, Carrington 9/28/2012 $3,433,709 $2,785,674 81% $300,000 $3,085,674 

31 Washington 10/31/2011 $19,722,515 $15,776,332 80% $1,435,000 $17,211,332 

32 Nebraska 10/4/2011 $13,168,350 $10,551,376 80% $0 $10,551,376 

33 Minnesota 9/30/2011 $15,463,182 $12,227,741 79% $0 $12,227,741 

34 New York 9/26/2011 $55,351,534 $42,134,301 76% $0 $42,134,301 

35 Florida 8/24/2011 $97,662,349 $73,331,940 75% $29,431,472 $102,763,412 

36 Alaska, Anchorage 1/26/2012 $13,168,350 $9,931,981 75% $0 $9,931,981 

37 Kentucky 7/28/2011 $15,487,998 $11,498,404 74% $0 $11,498,404 

38 Georgia 12/13/2011 $47,808,507 $34,569,923 72% $2,911,750 $37,481,673 

39 California 5/19/2011 $167,755,641 $119,582,220 71% $11,239,855 $130,822,075 

40 Ohio 9/2/2011 $55,138,373 $39,117,060 71% $0 $39,117,060 

41 Louisiana 8/24/2011 $12,366,058 $8,825,561 71% $1,192,880 $10,018,441 

42 Guam 9/30/2011 $13,168,350 $9,262,016 70% $0 $9,262,016 

43 U.S. Virgin Islands 10/4/2011 $13,168,350 $8,937,387 68% $0 $8,937,387 

44 New Jersey 9/22/2011 $33,760,698 $22,282,061 66% $875,243 $23,157,304 

45 Indiana 5/27/2011 $34,339,074 $21,922,546 64% $0 $21,922,546 

46 Delaware 7/18/2011 $13,168,350 $8,376,588 64% $0 $8,376,588 

47 Pennsylvania 10/6/2011 $29,241,232 $18,355,963 63% $757,932 $19,113,894 

48 Nevada 9/30/2011 $13,803,176 $8,120,803 59% $0 $8,120,803 

49 Connecticut 7/14/2011 $13,301,126 $7,545,467 57% $0 $7,545,467 

50 New Mexico 10/11/2011 $13,168,350 $7,350,573 56% $1,771,668 $9,122,241 

51 Wisconsin 9/22/2011 $22,363,554 $11,704,966 52% $0 $11,704,966 

52 District of Columbia 8/15/2011 $13,168,350 $5,880,699 45% $0 $5,880,699 

53 Maine 9/6/2011 $13,168,350 $5,736,685 44% $0 $5,736,685 

54 Maryland 6/2/2011 $23,025,709 $9,452,047 41% $0 $9,452,047 

55 Rhode Island 9/6/2011 $13,168,350 $5,439,547 41% $0 $5,439,547 

56 Northern Mariana Islands 3/14/2012 $13,168,350 $3,119,151 24% $0 $3,119,151 

57 American Samoa 2/14/2012 $10,500,000 $576,178 5% $0 $576,178 

TOTAL $1,456,685,731 $1,156,937,270 79% $149,273,355 $1,306,210,625 

*Note: SSBCI funds deployed are those legally “expended, obligated, or transferred.”

**Note: The Total Allocated Amount may change from quarter to quarter due to modifications made to individual State allocations.

***Note: Includes funds Expended, Obligated, Transferred or used for Administrative Expenses.
14

Appendix B: States Sorted by Dollars of SSBCI Allocation Deployed*

(As of 12/31/2015)

# State Agreement 

Date Allocated Amount** Original SSBCI Allocation Deployed Percent Recycled Funds Deployed

Total Funds 

Deployed***

1 California 5/19/2011 $167,755,641 $119,582,220 71% $11,239,855 $130,822,075 

2 Florida 8/24/2011 $97,662,349 $73,331,940 75% $29,431,472 $102,763,412 

3 Michigan 7/6/2011 $79,157,742 $73,377,674 93% $16,430,471 $89,808,145 

4 Illinois 7/26/2011 $78,365,264 $77,196,927 99% $2,287,500 $79,484,427 

5 Alabama 8/24/2011 $31,301,498 $28,925,929 92% $45,135,953 $74,061,882 

6 North Carolina 5/23/2011 $46,061,319 $46,061,319 100% $2,545,585 $48,606,904 

7 Texas 8/15/2011 $46,553,879 $42,651,499 92% $0 $42,651,499 

8 New York 9/26/2011 $55,351,534 $42,134,301 76% $0 $42,134,301 

9 Ohio 9/2/2011 $55,138,373 $39,117,060 71% $0 $39,117,060 

10 Georgia 12/13/2011 $47,808,507 $34,569,923 72% $2,911,750 $37,481,673 

11 Tennessee 10/4/2011 $29,672,070 $28,590,552 96% $0 $28,590,552 

12 Missouri 5/23/2011 $26,930,294 $26,416,673 98% $784,101 $27,200,774 

13 South Carolina 7/6/2011 $17,990,415 $17,990,415 100% $6,776,074 $24,766,489 

14 New Jersey 9/22/2011 $33,760,698 $22,282,061 66% $875,243 $23,157,304 

15 Indiana 5/27/2011 $34,339,074 $21,922,546 64% $0 $21,922,546 

16 Idaho 8/29/2011 $13,136,544 $13,136,544 100% $8,091,049 $21,227,593 

17 Pennsylvania 10/6/2011 $29,241,232 $18,355,963 63% $757,932 $19,113,894 

18 Massachusetts 9/13/2011 $20,445,072 $16,785,662 82% $2,158,033 $18,943,695 

19 Puerto Rico 10/6/2011 $14,540,057 $14,540,057 100% $4,320,559 $18,860,616 

20 Arizona 11/7/2011 $18,204,217 $18,204,217 100% $234,177 $18,438,394 

21 Washington 10/31/2011 $19,722,515 $15,776,332 80% $1,435,000 $17,211,332 

22 Oregon 8/29/2011 $16,516,197 $16,516,196 100% $234,474 $16,750,670 

23 Virginia 8/15/2011 $17,953,191 $16,392,458 91% $0 $16,392,458 

24 Colorado 10/11/2011 $17,233,489 $16,330,764 95% $0 $16,330,764 

25 Vermont 5/23/2011 $13,168,350 $13,168,350 100% $3,020,940 $16,189,290 

26 Arkansas 10/31/2011 $13,168,350 $12,778,101 97% $1,277,719 $14,055,820 

27 North Dakota, Mandan 8/31/2012 $9,734,641 $9,717,680 100% $3,875,733 $13,593,413 

28 Kansas 6/28/2011 $13,168,350 $12,858,758 98% $481,346 $13,340,104 

29 Utah 9/30/2011 $13,168,350 $12,310,388 93% $985,500 $13,295,888 

30 New Hampshire 7/18/2011 $13,168,350 $13,168,350 100% $0 $13,168,350 

31 Hawaii 5/27/2011 $13,168,350 $13,064,096 99% $0 $13,064,096 

32 Oklahoma 7/18/2011 $13,168,350 $12,673,332 96% $0 $12,673,332 

33 Montana 7/18/2011 $12,765,037 $12,655,361 99% $0 $12,655,361 

34 West Virginia 11/18/2011 $13,168,350 $11,925,332 91% $650,591 $12,575,923 

35 Wyoming, Laramie 12/4/2012 $13,168,350 $12,395,147 94% $0 $12,395,147 

36 Minnesota 9/30/2011 $15,463,182 $12,227,741 79% $0 $12,227,741 

37 Wisconsin 9/22/2011 $22,363,554 $11,704,966 52% $0 $11,704,966 

38 Kentucky 7/28/2011 $15,487,998 $11,498,404 74% $0 $11,498,404 

39 Mississippi 8/24/2011 $13,168,350 $11,336,794 86% $67,750 $11,404,544 

40 Iowa 8/30/2011 $13,065,020 $10,695,289 82% $0 $10,695,289 

41 South Dakota 9/22/2011 $13,168,350 $10,678,215 81% $0 $10,678,215 

42 Nebraska 10/4/2011 $13,168,350 $10,551,376 80% $0 $10,551,376 

43 Louisiana 8/24/2011 $12,366,058 $8,825,561 71% $1,192,880 $10,018,441 

44 Alaska, Anchorage 1/26/2012 $13,168,350 $9,931,981 75% $0 $9,931,981 

45 Maryland 6/2/2011 $23,025,709 $9,452,047 41% $0 $9,452,047 

46 Guam 9/30/2011 $13,168,350 $9,262,016 70% $0 $9,262,016 

47 New Mexico 10/11/2011 $13,168,350 $7,350,573 56% $1,771,668 $9,122,241 

48 U.S. Virgin Islands 10/4/2011 $13,168,350 $8,937,387 68% $0 $8,937,387 

49 Delaware 7/18/2011 $13,168,350 $8,376,588 64% $0 $8,376,588 

50 Nevada 9/30/2011 $13,803,176 $8,120,803 59% $0 $8,120,803 

51 Connecticut 7/14/2011 $13,301,126 $7,545,467 57% $0 $7,545,467 

52 District of Columbia 8/15/2011 $13,168,350 $5,880,699 45% $0 $5,880,699 

53 Maine 9/6/2011 $13,168,350 $5,736,685 44% $0 $5,736,685 

54 Rhode Island 9/6/2011 $13,168,350 $5,439,547 41% $0 $5,439,547 

55 Northern Mariana Islands 3/14/2012 $13,168,350 $3,119,151 24% $0 $3,119,151 

56 North Dakota, Carrington 9/28/2012 $3,433,709 $2,785,674 81% $300,000 $3,085,674 

57 American Samoa 2/14/2012 $10,500,000 $576,178 5% $0 $576,178 

TOTAL $1,456,685,731 $1,156,937,270 79% $149,273,355 $1,306,210,625 

*Note: SSBCI funds deployed are those legally “expended, obligated, or transferred.”

**Note: The Total Allocated Amount may change from quarter to quarter due to modifications made to individual State allocations.

***Note: Includes funds Expended, Obligated, Transferred or used for Administrative Expenses.