SSBCI Related State Legislation: G-L
HAWAII
S.B. NO. 2808 S.D.1
State of Hawaii Legislation Session
Appropriates funds to the Hawaii Technology Development Corporation for the State Small Business Credit Initiative Program. Effective 7/1/2050. (SD1)
Published By: State of Hawaii 31st Legislature of 2022
Published Date: April 14, 2022
HAWAII
DBEDT NEWS RELEASE: HAWAI‘I TO RECEIVE $62 MILLION IN FEDERAL FUNDING THROUGH AMERICAN RESCUE PLAN
State of Hawaii Governor Latest Department News, Newsroom
HONOLULU – The Hawai‘i Technology Development Corporation (HTDC) announced today that the State of Hawai‘i’s application has been approved by the U.S. Treasury for the State Small Business Credit Initiative (SSBCI), a program that was part of the American Rescue Plan Act of 2021. The SSBCI Program brings to Hawai‘i up to $62 million in federal funding to expand access to capital for small businesses, startups, and entrepreneurs. Hawaii is among the first states in the nation to be approved for participation.
Published By: State of Hawaii Governor Newsroom
Published Date: May 19, 2022
ILLINOIS
HOW TO BUILD A BUSINESS CREDIT
ILDCEO Small Business Assistance for Advantage Illinois
Enhancing access to capital for Illinois businesses is a top priority. The Brookings Institution has noted that more than 95% of new jobs are derived from business expansion or start up activity. Small businesses are the backbone of the Illinois economy, and the Advantage Illinois program is there to assist. By working with the state’s banking community and venture capitalists, we’ll help entrepreneurs and small businesses start up, expand and create new jobs at a faster rate.
Published By: Illinois Department of Commerce and Development Opportunity
Published Date: April 27, 2022
INDIANA
CAPITAL ACCESS PROGRAM (CAP)
Indiana Economic Development Corp Programs
The Small Business Jobs Act of 2010 (the “Act”) was signed into law on September 27, 2010. The Act created the State Small Business Credit Initiative (SSBCI) to provide direct support to states for use in programs designed to increase access to credit for small businesses. Pursuant to the Act, the U.S. Treasury has allocated funds to the State of Indiana to provide funding for the Indiana Capital Access Program – State Small Business Credit Initiative (the “Program” or CAP-SSBCI). CAP-SSBCI is a small business credit enhancement program that creates a specific cash reserve fund for a lender to use as additional collateral for loans enrolled in the program by the particular lender.
Published By: Indiana Economic Development Corp
Published Date: July 22, 2022
IOWA
IOWA ADMINISTRATIVE CODE ECONOMIC DEVELOPMENT AUTHORITY || CHAPTER 117 SSBCI DEMONSTRATION FUND
Iowa Legislature Rule Listing
The SSBCI demonstration fund is established to provide financial and technical assistance to innovate entrepreneurs and businesses. The purposes of providing such assistance are to help innovative entrepreneurs overcome the challenges associated with launching new ventures, attract private capital investment, and expand the volume of high-technology prototype and concept development activities which have a clear potential to lead to commercially viable products or services within a reasonable period of time.
Published By: Iowa Legislature Administrative Rules
Published Date: May 18, 2022
LOUISIANA
[HEADLINE/TITLE GOES HERE]
LA. ADMIN. CODE TIT. 19 § VII-9101
The Louisiana Economic Development Corporation (LEDC or Corporation) wishes to stimulate the flow of private capital, including short, medium and long-term loans, lines of credit loans, and other related financial assistance for the sound financing of the development, expansion, and retention of small business concerns in Louisiana, as a means of helping them grow and expand their businesses and of providing higher levels of employment, income growth, and expanded economic opportunities, especially to small businesses owned by socially and economically disadvantaged individuals (SEDI).
Published By: Statues, codes, and regulations Louisiana Administration
Published Date: July 20, 2022
