Westerville, OH - According to Conor Gowder, "The national picture of how 44 states, Washington, D.C., and the U.S. Virgin Islands chose to allocate $7.6 billion approved so far by the U.S. Treasury to spend through the nation’s second go at the State Small Business Credit Initiative (SSBCI) is getting clearer. Equity and venture capital programs—often important financing tools for high growth and innovation-oriented companies—have garnered approximately $2.8 billion, across 77 equity/venture capital programs, based on a Treasury-generated list of all programs and allocations. The remainder of the total approved is distributed across 107 credit support programs."
Authorized and expanded under the American Rescue Plan Act of 2021, SSBCI 2.0 is intended to generate $10 in additional private investment for each federal dollar allocated to the states through a formula basis. Every state with a Treasury-approved plan received a minimum of $57 million; nearly half of the states received more than $100 million. California received 15% of the total; New York, the state with the next highest total allocation, received 7%; and Florida and Texas received 6% each.
In this article, SSTI details each state’s programs and allocations, and makes available a detailed downloadable data set of available data based on Treasury’s program summaries list.
State allocations by programEvery state except Connecticut, North Dakota, and Wyoming has at least one credit support program, while four states (Idaho, Montana, South Dakota, and Texas), Washington, D.C., and the U.S. Virgin Islands have no equity/venture capital programs.
See Figure 1 for more detail: https://ssti.org/blog/ssbci-20-overview-state-uses-funds?utm_source=SSTI+Weekly+Digest&utm_campaign=29d2678435-EMAIL_CAMPAIGN_2024_03_28_01_53&utm_medium=email&utm_term=0_-29d2678435-%5BLIST_EMAIL_ID%5D
In this article, SSTI details each state’s programs and allocations, and makes available a detailed downloadable data set of available data based on Treasury’s program summaries list.
State allocations by programEvery state except Connecticut, North Dakota, and Wyoming has at least one credit support program, while four states (Idaho, Montana, South Dakota, and Texas), Washington, D.C., and the U.S. Virgin Islands have no equity/venture capital programs.
See Figure 1 for more detail: https://ssti.org/blog/ssbci-20-overview-state-uses-funds?utm_source=SSTI+Weekly+Digest&utm_campaign=29d2678435-EMAIL_CAMPAIGN_2024_03_28_01_53&utm_medium=email&utm_term=0_-29d2678435-%5BLIST_EMAIL_ID%5D
