CREC Co-Authors U.S. Treasury SSBCI Best PracticesOctober 14, 2015
Ken Poole, Ron Kelly, Martin Romitti, Sarah Gutschow, and Brendan Buff have worked with Program Managers at the state-level to document best practices to strengthen SSBCI-funded programs in states across the country.
Through four working groups representing various lending program types (Capital Access, Collateral Support, Loan Guarantee and Loan Participation), participating state managers were prompted to provide insights into best practices related to: Program Design; Operations; Marketing; Monitoring and Evaluation; Sustainability; and Defaults and Collections.
These documents are designed to serve as a guide for program managers currently operating similar programs, as well as for states that may wish to start similar programs in the future.
On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010. The Act created the State Small Business Credit Initiative, which was funded with $1.5 billion to strengthen state programs that support lending to small businesses and small manufacturers.