SSBCI VSB AND SEDI
SSBCI 2.0 looks to focus on the smallest and most underserved businesses
After the successful results of the original State Small Business Credit Initiative (SSBCI) ten years ago (aka SSBCI 1.0); the revised State Small Business Credit Initiative (aka SSBCI 2.0) as defined by the American Rescue Plan Act (ARPA) allocates over $1.5B in dedicated Funds to VSB (Very Small Businesses -10 employees or fewer) and business owned by SEDI (Socially or Economically Disadvantaged Individuals).
In addition SSBCI 2.0 provides an additional $1B of funding for those States, Territories and Tribal Governments that successfully demonstrate “robust support” for VSB and SEDI owned businesses.
VSB and SEDI Overview
How does the SSBCI define VSB and SEDI owned businesses?
SSBCI policy as defined by the ARPA (American Rescue Plan Act) provides key provisions for Very Small Businesses (VSB) and businesses owned by Socially or Economically Disadvantaged Individuals (SEDI).
The formal definition and eligibility criteria that define a VSB or SEDI owned business are outlined in our VSB and SEDI Overview Document (click the button below below to view the document).
