Get Acquainted with Georgia’s SSBCI 2.0
This year Georgia’s State Small Business Credit Initiative (SSBCI) is growing - adding new programs and supported with additional federal funding of nearly $200 million! Since November, the Georgia Department of Community Affairs (DCA) has been busy preparing for the February rollout by attracting new partners and lenders.
The SSBCI is designed to strengthen state lending programs that support small businesses and manufacturers. At a glance, the returning and new programs include:
- Loan Participation Program (GA LPP) - $70 million
- CDFI Program - $60 million
- NEW Small Business Credit Guarantee Program (SBCG) - $19,616,860
- NEW Venture Capital Program (multi-funds model) - $30 million
- NEW Equity Direct Program (direct co-investment model) - $20 million
The Federal SBBCI program was funded in 2010 with $1.5 billion; of the total amount funded, Georgia was allocated $48,024,748. In 2017, the SSBCI Program was a state-administered revolving loan program managed by the DCA.
Learn more about the past program, find current local lenders, and more by visiting Community Affairs’ SSBCI 2.0 page or download the flyer.