SSBCI 2.0

On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021, which provided $10 billion to fund the State Small Business Credit Initiative SSBCI. Through SSBCI 2.0, the United States Department of the Treasury “Treasury” provides funds to states, the District of Columbia, territories, and Tribal governments for small business credit support and investment programs. SSBCI is not a government grant program to small businesses. It is a post-pandemic economic stimulus program that uses federal dollars to leverage private sector investments in existing and start-up small businesses through lending and equity programs. Virginia’s SSBCI 2.0 Fact Sheet provides an overview of programs.