State Small Business Credit Initiative

Program Summary

Dollars in Thousands

 FY 2013 

 FY 2012 Annualized FY 2014 FY 2012 to FY 2014

 Actual CR Rate Estimated $ Change % Change

Budgetary Resources:

Unobligated Balances from Prior Years 235,708 42,578 24,633 (211,075) -89.55%

 Recoveries 3,400

Subtotal Budgetary Resources $235,708 $45,978 $24,633 ($211,075) -89.55%

Other Resources:

SSBCI Program 188,384 13,000 0 (188,384) -100.00%

SSBCI Administration 4,746 8,345 6,905 2,159 45.49%

Subtotal Other Resources $193,130 $21,345 $6,905 ($186,225) -96.42%

Total FTE 9 14 16 7 77.78%

*Amounts may differ from those printed in the FY 2014 President’s Budget Appendix due to rounding.

Summary

The State Small Business Credit Initiative 

(SSBCI) funds new and existing state

programs that support lending to and 

investment in small businesses in order to 

stimulate economic growth and new jobs. 

Under the SSBCI, participating states use the 

federal funds for programs that leverage 

private lending to help finance small 

businesses and manufacturers that are 

creditworthy, but are not getting the loans they 

need to expand and create jobs. The SSBCI 

will allow states to build on successful models 

for state small business lending and investment 

programs, including capital access programs 

(CAPs), collateral support programs, loan 

guarantee programs, loan participation 

programs and venture capital programs. 

Priorities: 

 To provide direct funding support to 

states for use in programs designed to 

increase access to credit for small 

businesses.

 To support state CAPs and other credit 

support programs (OCSP) that support 

lending to and investment in small 

businesses and small manufacturers.

 To monitor the deployment of SSBCI 

funds among approved state programs 

and to ensure adherence to all Treasury 

compliance standards.

 To promote best practices in program 

design, operations, and marketing 

among state-run programs. 

 To provide dedicated technical 

assistance to states as they implement 

these programs and deploy funds to 

eligible small businesses.

SSBCI FY 2014 Budget Highlights

Dollars in Thousands

SSBCI Administration 

FTE Amount

FY 2012 Actual 9 $4,746 

FY 2013 Estimated Budget 14 $8,345 

Changes to Base:

Maintaining Current Levels 

(MCLs): - $101 

Pay-Raise - $17 

Non-Pay - $84 

Subtotal Changes to Base - $101 

Total FY 2014 Base 14 $8,446 

Program Adjustments: 2 -$1,541

Staff Level Adjustment 2 $246 

Contract and Other Adjustments - -$1,787

Total FY 2014 Request 16 $6,905 
FY 2014 Budget Adjustments

Maintaining Current Levels (MCLs)

Pay-Raise +$17,000 / +0 FTE

The President's Budget proposes a one percent 

pay-raise for federal employees in 2014.

Non-Pay +$84,000 / +0 FTE

Funds are requested for inflation adjustments 

in non-labor expenses such as GSA rent 

adjustments, postage, supplies and equipment.

Program Adjustments

Staffing Level Update +$246,000 / +2 FTE

States with low use of SSBCI funds often do 

not have robust working relationships with 

financial institutions. SSBCI will add a 

relationship manager to monitor the 

engagement of financial institutions in SSBCIfunded programs and support state outreach to 

the lending industry. Treasury will devote 

more resources to communicating directly 

with smaller regional lenders and interfacing 

with financial trade groups.

Contract and Other Adjustments -$1,787,000 / 

+0 FTE

In order to accelerate the provisions of 

technical assistance in FY 2013, SSBCI 

proposes reductions in contract support and 

other adjustments in the SSBCI multi-year 

account. Estimated obligations for FY 2014 

do not include the $2,000,000 request for 

SSBCI technical assistance support that is 

included in the Treasury Departmental Office 

appropriation request.

Legislative Proposals

There are no current proposals for amending the 

authorizing legislation.

Description of Performance

In FY 2012, Treasury approved $137 million 

for disbursement to approved applicants. 

Cumulatively, through FY 2012, SSBCI has 

approved disbursements of $553 million. 

SSBCI estimates disbursing cumulative totals 

of approximately $1.1 billion by the end of FY 

2013 and $1.46 billion by the end of FY 2014, 

as states request disbursement of their 

approved allocations under the program. 

In FY 2013, Treasury will continue to monitor 

the performance of state programs, tracking 

loans and investments made with SSBCI 

funds, and disbursing obligated funds to states. 

In addition, Treasury will process requests 

from states to modify their programs in order 

to improve performance. SSBCI plans to 

approve or deny 90 percent of all state requests 

for modifications and subsequent 

disbursements within 90 calendar days of final 

receipt. Additionally, Treasury plans to collect 

90 percent of all quarterly reports within five 

days of the deadline to report. Treasury will 

also provide on-going technical support to 

recipients, including the dissemination of 

practices among recipients on such elements as 

program design, operations, and marketing.
SSBCI Performance

Performance Measure FY 2010 FY 2011 FY 2012 FY 2013 FY 2014

Actual Actual Actual Target Target

Cumulative Value of SSBCI 

Funds Transferred to States 

(thousands)

NA $366,000 $553,000 $1,084,000 $1,463,000

State Subsequent Disbursement 

Requests Approved or Denied 

within 90 days (%)

NA NA 100 90 90

State Requests to Modify 

Allocation Agreements 

Approved or Denied within 90 

days (%)

NA NA 100 90 90

Receive State Quarterly Reports 

within five business day of 

reporting deadline (%)

NA NA 100 90 90