Resources for the State Small Business Credit Initiative (SSBCI)

The State Small Business Credit Initiative (SSBCI) is a nearly $10 billion program to support small businesses and entrepreneurship in communities across the United States by providing capital and technical assistance to promote small business stability, growth, and success. SSBCI represents a transformational investment in American small businesses and is expected to catalyze up to $10 of private investment for every $1 of SSBCI Capital Program funding to increase access to capital to small businesses and entrepreneurs, including those in underserved communities.

The State Small Business Credit Initiative (SSBCI) program was directed by Congress to allow for use of funds towards transitions of business to employee ownership such as Worker Cooperatives, ESOPs and EOTs.  The Treasury guidance indicates a specific allowance for ownership interest portion purchases using SSBCI loans “in an employee stock ownership plan … worker cooperative, or related vehicle,” with the one caveat that the transaction results in employee owners holding a majority interest in the business. [U.S. Department of Treasury State Small Business Credit Initiative Capital Program Policy Guidelines].

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Worker Cooperative Field