New state programs providing financial assistance for entrepreneurs

The State Small Business Credit Initiative (SSBCI) is a nearly $10 billion federal program to support small businesses in communities across the United States by providing capital and technical assistance to promote business stability and growth. SSBCI represents a critical investment in American small businesses and is expected to catalyze up to $10 of private investment for every $1 of SSBCI funding to increase access to capital to small businesses and entrepreneurs.

Reauthorized and expanded by President Biden’s American Rescue Plan Act (ARPA), the SSBCI Capital Program gives states, territories, and tribal governments flexibility to set up programs to meet the needs of their local businesses. In addition to capital access, SSBCI funding invests in technical assistance programs to help improve small business owners’ access to capital, including in traditionally underserved communities.

In order to help small business owners and entrepreneurs navigate the wide array of state programs that are available, Venturize has compiled the most up to date information through this tool. We will continue to post updates and information about programs as they become available.