CREC Project News and Updates

CREC Co-Authors U.S. Treasury SSBCI Best Practices

October 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.

About This Project

Supporting the State Small Business Credit Initiative Lending Programs
Start Date: Jan 1970 — End Date: Jan 1970

Working collaboratively with commercial lending and community development finance subject matter experts (George Surgeon, David McGrady and Donna Nails), CREC provided technical assistance and support services for U.S. Treasury’s State Small Business Credit Initiative (SSBCI).

About the Client

U.S. Department of Treasury, State Small Business Credit Initiative

The State Small Business Credit Initiative is a federal program administered by the U.S. Department of the Treasury funded with $1.5 billion to strengthen state programs that support private financing to small businesses and small manufacturers.