VBA Update: SSBCI Informational Webinar
November 18, 2021 - Banker Resources
On this page, you will find the Zoom recording and resources from our call with the Virginia Small Business Financing Authority (VSBFA) about the State Small Business Credit Initiative (SSBCI).
Under the federal American Rescue Plan Act, Virginia is set to receive up to $230 million for the SSBCI to empower small businesses to access the capital needed to invest in job creation, promoting equity and fueling economic growth. Funds can be used for loan participation programs, loan guarantee programs, collateral support programs, capital access programs and venture capital programs. SSBCI funding is expected to catalyze up to $10 of private investment for every $1 of federal SSBCI funding.
The VSBFA is the coordinating state agency for SSBCI and is interested in feedback and input from banks as they structure the allocation of SSBCI funds in Virginia. There are opportunities for banks to serve as both program administrators and participants.
- Click here to access the meeting recording (password: ^+7NX$6@)
- SSBCI Treasury Overview – https://home.treasury.gov/policy-issues/small-business-programs/state-small-business-credit-initiative-ssbci
- SSBCI Survey – https://www.surveymonkey.com/r/QD9GNYY
- VSBFA Website – https://www.sbsd.virginia.gov/virginia-small-business-financing-authority/
- Email for additional info: VSBFA@SBSD.VIRGINIA.GOV