Small Business Credit Initiative (SSBCI)

Small Business Credit Initiative (SSBCI) is sponsored by Empire State Development, New York State. Offers funding to small and traditionally disadvantaged businesses in New York State to support post-pandemic recovery.

State Small Business Credit Initiative (SSBCI) | Empire State Development New York State Small Business Credit Initiative (SSBCI) Over $500M in New Funding to Help New York Small Business Recovery ESD Programs Offer Unprecedented Access to Capital for Loans, Equity and Technical Assistance for Small Businesses More than $500 million in federal funding is now available to support the resurgence of small businesses across New York State through the State Small Business Credit Initiative (SSBCI), a program through the American Rescue Plan Act.

Managed by the U.S. Department of Treasury, SSBCI provides funds to support programs for small businesses, including socially and economically disadvantaged individual (SEDI) owned businesses and very small businesses (VSB), to recover from the economic effects of COVID-19 and allow them opportunity to succeed in the post-pandemic economy.

With this funding, Empire State Development (ESD) has developed a suite of capital access and equity programs to help New York State small businesses recover from the economic effects of COVID-19 and allow them the opportunity to succeed. Find Out Which SSBCI Programs Can Help You Please fill out the form below.

After you tap the “Filter Programs” button, scroll down to see a list of programs within SSBCI that are the most relevant to you. Click on each resulting program title to learn more about that program and how to apply. While you can apply to some programs directly through the state, others require an application through partner organizations such as community lending institutions.

As SSBCI programs continue to be developed, we will add more information to program pages. What is your type of organization? (please select one) * At what stage is your business?

(select as many as apply) * Looking to start a business Beginning stages of a business Looking to expand an existing business Existing and looking for venture funding What type of financing are you looking for? (select as many as apply) * Equity Investment for Start-Ups Capital project Financing under $1 million Capital Project Financing $1 million and over Surety Bond for contracts In what type of industry does your business operate?

(select as many as apply) * Warehouse/Distributor/Supplier Technology or Technology Enabled Life Sciences/Biotechnology Education/Research Institution SSBCI Programs You May Be Eligible For No specific match was found under your selection criteria. However, see below for programs that you may still be qualified for to apply or learn more about.

Other SSBCI Programs You May Be Interested In State Small Business Credit Initiative (SSBCI) Programs Learn about the following SSBCI programs that Empire State Development has established to help your business thrive in New York State. Main Street Capital Loan Fund $10M in SSBCI funding that will provide qualifying start-up and early-stage businesses with access to affordable term loans up to $100,000.

New York State Small Business Revolving Loan Fund Round 2 $63. 5M in SSBCI funding to provide shorter-term microloans and loans typically under $250,000. Addresses inequitable capital access by bridging the financing gaps facing new companies, under-banked communities and small businesses.

$6. 4M in SSBCI funding for portfolio insurance for participating lenders designed to increase financing opportunities for New York State’s small businesses, SEDI-owned businesses and very small businesses (VSB). Loans provided via participating lenders.

New York Forward Loan Fund 2 The New York Forward Loan Fund 2 is a $150 million expanded program offering qualifying small businesses and nonprofits access to capital from mission-driven lenders, with loans of up to $150,000 as well as free support services.

New York State Surety Bond Assistance Program $22M in SSBCI funding to provide access to bid bonds, payment and performance bonds for contractors performing on publicly funded projects throughout New York State via participating surety companies.

New York State Contractor Financing Program $37M in SSBCI funding to provide to contractors in need of working capital to deploy and execute federal, state, and local government related contracts via participating lenders.

Emerging and Regional Partner Program Fund $102M in SSBCI funding for investing in diverse fund managers with first, second or third time funds, or with managers who will use the funds to invest in areas of New York State where venture capital is less readily available.

Community and Regional Partner Program Fund $42M in SSBCI funding for partnerships with accelerators or other similar mentor-based programs to provide equity investments for high-growth New York State companies that are participating in those programs. Pre-seed and Seed Matching Fund Program $40M in SSBCI funding for equity investments in venture-backable start-up companies at the earliest stages of their development.

This program is via a competitive application process with applicants evaluated to assess likelihood of venture scalability. New York State Innovation Venture Capital Fund $35M in SSBCI funding for equity investments for Seed through series B technology companies across New York State.

Capital Project Loan Fund $54M in SSBCI funding to provide direct loans for the growth of manufacturing and other eligible businesses by assisting in financing a portion of the cost of acquiring/renovating existing buildings, constructing new buildings or purchasing equipment.

SSBCI Technical Assistance Program Provides free expert legal, accounting, and financial services to help small businesses and startups access the capital they need to grow and succeed. Details of some SSBCI programs are being finalized. Questions about SSBCI Programs?

Send an email to our Small Business and Technology Development Division team. Discover How New York State Helps Small Businesses Our Division of Small Business and Technology Development is a hub of programs and services designed to help your business grow and succeed.