The primary objective of State Small Business Credit Initiative (SSBCI) is to leverage private capital for Florida's small businesses. For SSBCI, a small business is defined as having 500 employees or less. Florida must show that, taken together, $10 in new small business lending or investment was generated by every $1 in SSBCI funding (known hereafter as the "10:1 private capital leverage ratio"). Florida received a total allocation of $97,662,349 from the U.S. Treasury to implement the following three programs: the Florida Capital Access Program, the Small Business Loan Support Program and the Florida Venture Capital Program. Accordingly, Florida's SSBCI funds must generate at least $976,623,490 in new private capital for Florida's small businesses.

Advantages these programs will provide to Florida's small businesses include:

  •  Access to debt and venture capital financing that may not otherwise be available
  •  A flexible and non-bureaucratic resource for funding

Advantages these programs will provide to Florida's lending institutions include:

  • Ability to approve a loan that would otherwise be declined
  • Provides the lender a non-competitor participant on credit facilities
  • Provides the lender CRA credit for each transaction

Florida's SSBCI Programs



Contacts

  • Stephen Heiman

    (850) 717-8533

  • Brook Pace

    (850) 717-8519
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