Program Updates
Please continue to visit this page for additional information on the State Small Business Credit Initiative (SSBCI). The Florida Department of Economic Opportunity (DEO) is waiting for the United States Department of the Treasury (Treasury) to release application requirements and program guidance.
Overview
SSBCI was initially authorized under the Small Business Jobs Act of 2010 in response to the decline in small business lending as a result of the Great Recession. The Treasury allocated funds for Florida to administer across five different small business credit enhancement programs.
The American Rescue Plan Act of 2021 reauthorized SSBCI and allocates funding to states to utilize their own capital access initiatives. Therefore, Florida has been allocated funding to administer amongst various small business credit enhancement programs. Additional allocations may be available for socially and economically disadvantaged (SEDI) business enterprises and technical assistance for eligible businesses.
Currently, DEO is awaiting guidance from the Treasury on the requirements for the application and the program guidelines.
Florida State Small Business Credit Initiative Stakeholder Survey
Please let us know more about your business or organization and what financial assistance your business, your clients, or your business community needs in order to flourish. Take the below survey:
Program Resources
Additional Information
If you have a specific question regarding the State Small Business Credit Initiative, please email SSBCI@DEO.MyFlorida.com.