The State Small Credit Initiative also known as SSBCI is a federal program created as a result of the Small Business Jobs Act of 2010 by the Department of the Treasury. The amount allocated by Treasury as a result of the Act was $1.5 billion. This funding was made available to all states, territories, and eligible municipalities to create or expand small businesses. SSBCI has allocated $13,168,350 to the District of Columbia and will be administered by DISB’s Banking Market Services Division.
The District of Columbia Collateral Support Program facilitates capital accessibility for small businesses by providing loan guarantees to banks and other small business lenders in association with the federal State Small Business Credit Initiative. The program's purpose is to provide financial assistance, which will help with the development, expansion, and retention of the District’s small businesses.
To learn more about this program, send an email to email@example.com.