Program Support for Treasury’s SSBCI Initiative
CREC is providing advisory and programmatic support to assist the successful implementation and operation of the U.S. Department of Treasury’s State Small Business Credit Initiative (SSBCI). Activities will include formulating SSBCI eligibility and approval criteria, creating of standards and requirements for participation of lenders and investors, and aligning the SSBCI program with the requirements for Federal financial regulatory authorities. The work will also include compliance and internal controls support services, including assisting with program compliance to applicable OMB guidelines, laws and regulations, oversight bodies, and other relevant regulatory requirements and assessing grantee program performance and the identification of critical success factors for each approved state or tribal program. CREC will also assist in developing communications and outreach to banks, CDFIs and other financial institutions and investors to educate them about the SSBCI funded programs.
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.