State Small Business Credit Initiative Technical Assistance Grant Program

 

Section 3301 of the American Rescue Plan Act of 2021 (ARPA), Public Law No. 117-2 (March 11, 2021), reauthorized and amended the Small Business Jobs Act of 2010SSBCI statute, codified at 12 U.S.C. 5701 et seq., to provide funding for (1) the SSBCI Capital Program and (2) technical assistance (TA) to support eligible small businesses applying for the SSBCI Capital Program and other federal or other jurisdiction programs that support small businesses. The SSBCI Formula TA Grant Program provides $200 million in formula grants for technical assistance funding for states, territories, the District of Columbia, and Tribal governments (collectively, jurisdictions) that submitted complete and timely applications for the SSBCI Capital Program. These jurisdictions are the eligible recipients under the SSBCI Formula TA Grant Program. The SSBCI Formula TA Grant Program is intended to provide funds to eligible recipients to provide legal, accounting, and financial advisory services either directly or through legal, accounting, or financial advisory firms to very small businesses (VSB) and business enterprises owned and controlled by socially and economically disadvantaged individuals (SEDI-owned businesses), as those terms are defined in SSBCI guidance. The primary goal of the SSBCI Formula TA Grant Program is to help VSBs and SEDI-owned businesses meaningfully apply and participate in the SSBCI Capital program or other Federal or other jurisdiction programs that support small businesses. Eligible recipients may apply to Treasury for a portion of the SSBCI Formula TA Grant program funding. The deadline for eligible states, the District of Columbia, and territories to submit a Formula TA application has passed; Tribal governments have until October 27, 2023, to submit Formula TA applications. Treasury issued SSBCI Formula TA Grant Program Guidelines dated April 28, 2022. The SSBCI Formula TA Grant Program is related to and supports the SSBCI Capital Program and the SSBCI Competitive TA Grant Program. Under the SSBCI Capital Program, Treasury allocates funds to jurisdictions for small business financing programs, which includes loan participation, loan guarantee, collateral support, venture equity, and capital access programs. Under Section 3003(c)(5) of the SSBCI statute as codified at 31 U.S.C. 5702(c)(5), SSBCI Capital Program funding is not considered financial assistance for purposes of subtitle V of title 31, United States Code.

Active 21.031 Departmental Offices, Department of The Treasury B - Project Grants Not applicable. American Rescue Plan Act of 2021, Section 3301, Public Law 117-2, 12 U.S.C. 5701 et seq.
Section 3301 of the American Rescue Plan Act of 2021 (ARPA), Public Law No. 117-2 (March 11, 2021), reauthorized and amended the SSBCI statute, codified at 12 U.S.C. § 5701(e)(1), to provide Treasury funds to establish the SSBCI Formula TA Grant Program. SSBCI Formula TA Grant Program funding is available for states, the District of Columbia, territories, and Tribal governments that submitted complete and timely applications for the SSBCI Capital Program. These jurisdictions are the eligible jurisdictions of the SSBCI Formula TA Grant Program. Groups of Tribal governments may apply jointly (i.e., in consortia). For additional requirements applicable to joint Tribal applications, please see TA Grant Program FAQ #3 "Can a Tribal affiliated entity or non-Tribal entity apply for a TA grant, sign a TA Grant Agreement, and implement the grant on behalf of a group of Tribal governments" under Section III. Eligible Recipients, Beneficiaries, and TA Providers at https://home.treasury.gov/system/files/136/SSBCI-FAQs.pdf. Very small businesses and business enterprises owned and controlled by socially and economically disadvantaged individuals (SEDI-owned businesses). SSBCI Formula TA Grant Program funding is available for states, the District of Columbia, territories, and Tribal governments that submitted complete and timely applications for the SSBCI Capital Program. These jurisdictions are the eligible recipients of the SSBCI Formula TA Grant Program. Eligible jurisdictions must submit Formula TA applications, which include Formula TA plans that address how they intend to provide legal, accounting, and financial advisory services to VSBs and SEDI- owned businesses applying for an SSBCI Capital Program, or other federal or other jurisdiction program that supports small businesses. Required components of the Formula TA plan include a description of proposed Formula TA projects, the needs of eligible beneficiaries, the organizational capacity and ability of the TA providers, the connection between the project and SSBCI or other federal or jurisdiction program that supports small businesses, the strategy for reaching eligible beneficiaries, and performance goals. Treasury issued SSBCI Formula TA Grant Program Guidelines dated April 28, 2022. The deadline for SSBCI Formula TA Grant Program applications of eligible jurisdictions that are states, the District of Columbia, and territories has passed. Eligible jurisdictions that are Tribal governments have until October 27, 2023, to submit SSBCI Formula TA Grant Program applications to Treasury. Treasury will assess Formula TA applications based on the following factors: o Alignment of the project design with the needs of eligible beneficiaries; o Alignment of the performance goals and benchmarks with project design; o Adequacy of the organizational capacity and ability of the TA providers; o Alignment of the budget with project design and performance goals; and o Completeness of the Formula TA applications. Information on necessary documentation can be found on the Treasury website via the following link: https://home.treasury.gov/policy-issues/small-business-programs/state-small-business-credit-initiative-ssbci 2 CFR 200, Subpart E - Cost Principles applies to this program. Preapplication coordination is not applicable. 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. The deadline for eligible recipients that are states, the District of Columbia, and territories to apply to Treasury for SSBCI Formula TA Grant Program funding has passed. Eligible recipients that are Tribal governments have until October 27, 2023 to submit Formula TA applications. Treasury issued SSBCI Formula TA Grant Program Guidelines dated April 28, 2022. Information on the SSBCI Formula TA Grant Program can be found via the following link: https://home.treasury.gov/policy-issues/small-business-programs/state-small-business-credit-initiative-ssbci SSBCI Formula TA Grant Program funding is available for states, the District of Columbia, territories, and Tribal governments that submitted complete and timely applications for the SSBCI Capital Program. These jurisdictions are the eligible recipients of the SSBCI Formula TA Grant Program. Eligible recipients that submit a complete TA application that meets the requirements in the SSBCI Formula TA Grant Program Guidelines and other guidance will receive funding. The amount of SSBCI Formula TA Grant Program funding available for each eligible recipient is based on a formula. The deadline for SSBCI Formula TA Grant Program applications has passed for eligible recipients that are states, the District of Columbia, and territories. Applications are due October 27, 2023 for eligible recipients that are Tribal governments. Not applicable. Not applicable. Not applicable. SSBCI TA Formula Grant Program funding is available for states, the District of Columbia, territories, and Tribal governments that submitted complete and timely applications for the SSBCI Capital Program. These jurisdictions are the eligible recipients of the SSBCI Formula TA Grant Program. Eligible recipients that submit a complete Formula TA application, that meets the requirements in the SSBCI Formula TA Grant Program Guidelines and other guidance, will receive funding. The amount of SSBCI Formula TA Grant Program funding available for each eligible recipient is based on a formula. Grant funds provided to recipients under the SSBCI Formula TA Grant Program are intended to be used by eligible recipients to assist very small businesses (VSBs) and business enterprises owned and controlled by socially and economically disadvantaged individuals (SEDI-owned businesses) applying for the SSBCI Capital Program, or another Federal or other jurisdiction program that supports small businesses. Generally, the types of assistance will include Business/Commerce, Economic Development, and Training. Performance Reports: Treasury has published draft guidance on the specific reporting requirements for the SSBCI Formula TA Grant Program. This guidance is pending Paperwork Reduction Act approval so is in draft form. Generally, Treasury anticipates that recipients will be required to provide regular annual performance reports pursuant to 2 CFR § 200. 329, including reporting on the types of TA services provided to eligible beneficiaries, which provides valuable insight into the types of services required by small businesses. For more information, please visit https://home.treasury.gov/system/files/136/SSBCI-Technical-Assistance-Reporting-Guidance.pdf Not applicable. Recipients of SSBCI Formula TA Grant Program funding shall maintain records and financial documents sufficient to evidence compliance with 12 U.S.C. ? 5708(e), Treasury's implementing regulations and guidance, and the Uniform Guidance's recordkeeping requirements at 2 CFR ?? 200.334-200.338, except as otherwise provided by the SSBCI TA award agreement, which requires recipients to maintain records applicable to the SSBCI Formula TA Grant Program for a period of five years after all funds have been expended or returned to Treasury, whichever is later. Statutory formula is not applicable to this assistance listing.

Matching requirements are not applicable to this assistance listing.

MOE requirements are not applicable to this assistance listing. The SSBCI Formula TA Grant Program is a one-time program of limited duration. The obligation of participating states, the District of Columbia, territories, and Tribal governments to perform and report on progress will expire as outlined in the terms and conditions of the grant agreement. Up to 3 funding tranches. None/Not specified. United States Department of the Treasury Attn: State Small Business Credit Initiative
U.S. Department of Treasury/Departmental Offices
Washington, DC 20220 USA
SSBCI_Information@treasury.gov
Phone: 2026222000 https://home.treasury.gov/policy-issues/small-business-programs/state-small-business-credit-initiative-ssbci 20-0142-0-1-376 (Project Grants (with Formula Distribution)) FY 22$0.00; FY 23 est $67,000,000.00; FY 24 est $133,000,000.00; FY 21$0.00; - The range of assistance provided is based on a formula determined by the type of applicant (State, the District of Columbia, Territory, or Tribal Government) as applicable. Please see information on the following website: https://home.treasury.gov/policy-issues/small-business-programs/state-small-business-credit-initiative-ssbci Not applicable.