The state of Florida was allocated more than $97.6 million by the U.S. Department of Treasury to implement the State Small Business Credit Initiative (SSBCI), a federal initiative that encourages states to establish or strengthen state programs that support lending to small businesses. States can use SSBCI funds for programs that leverage private lending to help finance small businesses that are creditworthy, but are not getting the loans they need to expand and create jobs. Florida was required to demonstrate a minimum return of 10 dollars in new private lending for every dollar in federal SSBCI funding. Accordingly, the SSBCI funds are expected to leverage close to $1 billion in private lending to Florida small businesses.

Florida's SSBCI Programs    

  • Florida Venture Capital Program - $43,500,000.00
    • Enterprise Florida, Inc., through a contract with Florida Department of Economic Opportunity is administering a partnership with Florida Opportunity Fund to manage the Florida Venture Capital Program, which provides equity investments and convertible debt instruments to emerging Florida companies and companies locating in Florida with perceived long-term growth potential.
  • Small Business Loan Support Program - $47,162,349.00
    • The Enterprise Florida, Inc., through a contract with Florida Department of Economic Opportunity is administering The Small Business Loan Support Program, which is designed to provide Florida small businesses with credit enhancement and other tools to better access commercial bank financing     

SSBCI Participating Lenders

Eligible lenders include any insured depository institution, insured credit union, or community development financial institution (CDFI), as those terms are defined in section 103 of the Riegle Community Development and Regulatory Improvement Act of 1994 (12 USC 4702).

For additional information for lenders, please visit this link

State Small Business Credit Initiative (SSBCI) Information

SSBCI Resources

SSBCI Success Stories

SSBCI Opinion Survey for Financial Institutions

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