State Small Business Credit Initiative (SSBCI) is sponsored by State of New Mexico. NM Collateral Assistance Program (CAP) 2. 0 Technology and Innovation Business Assistance Program <a href="http Category: Economic Development.

SSBCI: State Small Business Credit Initiative - NM Economic Development Department Ready to grow in New Mexico? Have comments or questions? We’re here to help.

Science and Technology Roadmap Event Invitation and Speaking Request Form Science & Technology Roadmap Roadmap to turn our research strengths into long-term economic growth and jobs.

Creative Industries Division (CID) Justice, Equity, Diversity and Inclusion (JEDI) Office Technology and Innovation Office (TIO) Food, Hunger, and Agriculture Program Office of International Trade (OIT) Outdoor Recreation Division (ORD) Technology and Innovation Office Helping you grow your technology-based business in New Mexico.

County Economic Summaries Job Training Incentive Program Funds training and upskill 398 workers in the first quarter of 2026.

Local Economic Assistance & Development Support (LEADS) Local Economic Development Act (LEDA) Healthy Food Financing Fund (HFFF) Creative Industries Division Creative Support Organization Grant Business Development & Expansion Grant Creative Industries Public Development Projects Technology & Innovation Office Technology & Innovation Grant Programs NM Science and Technology Business Startup Grant NM Small Business Innovation Research (SBIR) Matching Grant NM Entrepreneurship Programmatic Support Grant Outdoor Recreation Division Outdoor Recreation Trails+ Grant Quantum Technologies Award Funds up to $200,000 to early-stage companies.

Due April 30. Local Economic Development Act (LEDA) Job Training Incentive Program (JTIP) State Small Business Credit Initiative (SSBCI) NM Collateral Assistance Program (CAP) 2.

0 Technology and Innovation Business Assistance Program Outdoor Business Accelerator Business Incubator Certification Business Retention & Expansion Program (BRE) Certified Economic Development Organization (EDO) New Mexico MainStreet Program New Mexico Commercial Property Assessed Clean Energy Program (C-PACE) Strategic Site Readiness Program Preparing high-value sites for future economic development.

SSBCI: State Small Business Credit Initiative SSBCI: State Small Business Credit Initiative On March 11, 2021, President Biden signed The American Rescue Plan Act (ARPA), which reauthorized and funded the State Small Business Credit Initiative (SSBCI).

The new version of the SSBCI program provides a combined $10 billion to states, the District of Columbia, territories, and Tribal governments to empower small businesses to access capital needed to invest in job-creating opportunities as the country emerges from the pandemic.

The funds will also support recipient jurisdictions in promoting American entrepreneurship and democratizing access to startup capital across the country, including in underserved communities. Promote Equity.

The program has a capital allocation to business enterprises owned and controlled by socially and economically disadvantaged individuals (SEDI-owned businesses), along with incentive funds for jurisdictions that demonstrate robust support for SEDI-owned businesses. Catalyze Private Investment.

SSBCI is designed to catalyze $10 of small business lending and investment for every $1 of SSBCI capital program funding, magnifying the effects of the federal funds allocated through the program. Fuel Economic Growth and Good Jobs.

SSBCI will build on the Administration’s work to support small businesses while combating longstanding structural inequities in access to credit and unequal opportunities for growth revealed and exacerbated by the pandemic. New Mexico is allocated to receive up to $74 million over the course of the 10-year program. SSBCI funding is distributed in three different tranches.

The state has received two of the three tranches and can draw the third and final tranche once it deploys 80% of the previous tranche. $48. 1 million total allocations received 73% of transactions assisted businesses owned by Social and Economically Disadvantaged Individuals (SEDI).

$3. 2 million incentive allocations received by NM due to high volume of deployment to SEDI-owned businesses. $24.

7 million expended, obligated, or transferred. 67 New Mexico businesses have received funding. $49.

8 million in loans to or investments in NM businesses catalyzed. The Capital Connect P rogram (an SSBCI Technical Assistance program) is designed to help businesses and VC fund managers prepare to access SSBCI and other funding by supporting registered business owners in various critical areas. The program focuses on providing essential support to very small (VSB) and socially economically disadvantaged (SEDI) owned businesses.

It will offer business workshops and 1:1 assistance to eligible businesses with services such as financial advisory, legal advisory, and accounting assistance. A portion of the program is specifically tailored for venture capital interested funds and emerging fund managers and business interested in accessing venture capital.

The New Mexico SSBCI TA program aims to provide the necessary tools and guidance to help these businesses thrive. By offering targeted assistance in key areas, the TA program seeks to empower businesses in navigating accessing capital to support growth, job creation, and sustainability of New Mexico’s business community. The following contractors have been selected via RFP to administer the NM SSBCI TA program for the first year.

WESST – Financial Advisory Services HatchForm LLC – Legal Advisory Services Revby – Accounting Services UNM Anderson – Venture Capital and Emerging Fund Manager Assistance in the areas of Financial, Legal, and Accounting Learn more about the SSBCI TA Program Definition of a Very Small Business (VSB) and a SEDI-owned business A Very Small Business (VSB) is defined as a business with fewer than 10 employees and includes independent contractors and sole proprietors.

A SEDI-owned business is: a business enterprise that self-certifies that it is owned and controlled by individuals who have had their access to credit on reasonable terms diminished compared to others in comparable economic circumstances, due to (1) membership of a group that has been subjected to racial or ethnic prejudice or cultural bias within American society, (2) gender, (3) veteran status, (4) limited English proficiency, (5) disability, (6) long-term residence in an environment isolated from the mainstream of American society, (7) membership of a Federally or state-recognized Indian Tribe, (8) long-term residence in a rural community, (9) residence in a U.S. territory, (10) residence in a community undergoing economic transitions (including communities impacted by the shift towards a net-zero economy or deindustrialization), or (11) membership of an underserved community.

A full definition of VSB and SEDI can be found here on page 3. The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes.

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