Program Updates

On February 10, 2022, the Florida Department of Economic Opportunity (DEO) applied for the State Small Business Credit Initiative (SSBCI) through the United States Department of the Treasury (U.S. Treasury), and the application is currently under review. DEO will continue to update this webpage with additional information on SSBCI for the State of Florida.

More information about SSBCI is available on the U.S. Treasury website


The American Rescue Plan Act of 2021 reauthorized SSBCI as part of the national response to the coronavirus pandemic-induced recession. Originally created in 2010 and federally administered through the U.S. Treasury, SSBCI allocates $10 billion in funding to states to use for their own capital access initiatives. Florida has been initially allocated $488,486,572 to utilize for various technical assistance, capital access, credit support, and venture capital programs designed to help small businesses grow and thrive.

Florida’s SSBCI program will provide businesses with additional resources and capital to facilitate business growth and economic development. These funds will support businesses owned or controlled by socially and economically disadvantaged individuals, including minority-owned, women-owned, veteran-owned, rural, or other targeted small business populations across the state.

This multi-year effort aligns with the Governor’s prioritization of workforce development initiatives, a business-friendly environment, and aggressive economic growth. In order to maximize the effectiveness of these programs and to meet the needs of small businesses in Florida, we have prioritized stakeholder engagement to ensure this program supports the small businesses that keep our economy strong. 

Florida’s Preliminary Allocation and Proposed Programs

The table below identifies the funding and initial eligible amounts that U.S. Treasury has made available to Florida under SSBCI, as amended by the American Rescue Plan Act of 2021.


Main Capital Allocation

Very Small Business Allocation

SEDI Allocation

Initial Eligible Amounts of Incentive Funding

Total Potential Funding Amount








You can access the full preliminary allocation table on the U.S. Treasury’s website.

On February 10, 2022, DEO applied for SSBCI through the U.S. Treasury and is awaiting application approval. The table below demonstrates the proposed program type and total potential funding allocation to the program, as detailed in the State’s application for funding.

Program Type

Allocated Funding

Collateral Support Program


Loan Guarantee Program


Loan Participation Program


Capital Access Program


Equity Capital Program


DEO will continue to provide updates on the program as more information becomes available.

Sign Up for Updates

Additional Information

If you have a specific question regarding SSBCI, please email or contact 1-888-357-5053.

An equal opportunity employer/program.  Auxiliary aids and services are available upon request to individuals with disabilities.
All voice telephone numbers on this website may be reached by persons using TTY/TDD equipment via the Florida Relay Service at 711.
You have selected a link to a website that is outside of the domain. Control of the content of this website belongs to the website's owner and not to the Department of Economic Opportunity.