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 2010, codified at 12 U.S.C. § 5701 et seq., to permit Treasury to provide $9.5 billion to establish the State Small Business Credit Initiative (SSBCI) Capital Program and up to $500 million for technical assistance (TA) as a response to the economic effects of the COVID-19 pandemic. Under the SSBCI Capital Program, Treasury allocates funds to states of the United States, the District of Columbia, territories, eligible municipalities, and Tribal governments (eligible 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 Small Business Jobs Act, as amended, SSBCI Capital Program funding is…