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State Small Business Credit Initiative
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Book Synopsis The State Small Business Credit Initiative (SSBCI) by : Marcus Powell
Download or read book The State Small Business Credit Initiative (SSBCI) written by Marcus Powell and published by Nova Science Publishers. This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The SSBCI provides funding to states, territories, and eligible municipalities to expand existing or to create new state small business investment programs, including state capital access programs, collateral support programs, loan participation programs, loan guarantee programs, and venture capital programs. This book examines the SSBCI and its implementation, including Treasury's response to initial program audits conducted by the U.S. Government Accountability Office and Treasury's Office of Inspector General. These audits suggested that SSBCI participants were generally complying with the statute's requirements, but that some compliance problems existed, in that, the Treasury's oversight of the program could be improved; and performance measures were needed to assess the program's efficacy.
Book Synopsis State Small Business Credit Initiative by : U.s. Government Accountability Office
Download or read book State Small Business Credit Initiative written by U.s. Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-08-11 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Congress enacted the Small Business Jobs Act of 2010 in September 2010 in response to concerns that small businesses have been unable to access capital that would allow them to create jobs. Among other things, the act aims to stimulate job growth by establishing the $1.5 billion State Small Business Credit Initiative (SSBCI) within the Department of the Treasury (Treasury) to strengthen state and territory (state) programs that support lending to small businesses and small manufacturers. Participating states are expected to leverage the SSBCI funds to generate an amount of private financing and investment at least 10 times the amount of their SSBCI funds (that is, a leverage ratio of 10:1). The act also requires GAO to audit SSBCI annually. Accordingly, this report examines (1) which states applied for SSBCI funds and the planned uses of those funds; (2) Treasurys implementation of SSBCI; and (3) Treasurys efforts to measure whether SSBCI achieves its goals. GAO surveyed state SSBCI applicants (for a 100 percent response rate), analyzed data from Treasury case files, and interviewed officials from Treasury and eight participating states.
Author :Office of Office of the Inspector Department of the Treasury Publisher :CreateSpace ISBN 13 :9781505267884 Total Pages :34 pages Book Rating :4.2/5 (678 download)
Book Synopsis State Small Business Credit Initiative by : Office of Office of the Inspector Department of the Treasury
Download or read book State Small Business Credit Initiative written by Office of Office of the Inspector Department of the Treasury and published by CreateSpace. This book was released on 2015-01-03 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: SSBCI is a $1.5 billion Treasury program that provides participating states, territories, and eligible municipalities with funds to strengthen Capital Access Programs and other credit support programs that provide financial assistance to small businesses and manufacturers. Capital Access Programs provide portfolio insurance for business loans based on a separate loan loss reserve fund for each participating financial institution. Other credit support programs include collateral support, loan participation, loan guarantee, credit support, and venture capital programs.
Author :Office of Office of the Inspector Department of Treasury Publisher :CreateSpace ISBN 13 :9781505263688 Total Pages :30 pages Book Rating :4.2/5 (636 download)
Book Synopsis State Small Business Credit Initiative by : Office of Office of the Inspector Department of Treasury
Download or read book State Small Business Credit Initiative written by Office of Office of the Inspector Department of Treasury and published by CreateSpace. This book was released on 2015-01-03 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: SSBCI is a $1.5 billion Treasury program that provides participating states, territories, and eligible municipalities with funds to strengthen Capital Access Programs and OCSPs that provide financial assistance to small businesses and manufacturers. Capital Access Programs provide portfolio insurance for business loans based on a separate loan loss reserve fund for each participating financial institution. OCSPs include collateral support, loan participation, loan guarantee, and venture capital programs.
Book Synopsis State Small Business Credit Initiative by : Robert Jay Dilger
Download or read book State Small Business Credit Initiative written by Robert Jay Dilger and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines the State Small Business Credit Initiative (SSBCI) and its implementation, including Treasury's response to initial program audits conducted by the U.S. Government Accountability Office (GAO) and Treasury's Office of Inspector General (OIG). The SSBCI provides funding, allocated by formula and distributed in one-third increments, to states, territories, and eligible municipalities (hereinafter referred to as states) to expand existing or create new state small business investment programs, including state capital access programs, collateral support programs, loan participation programs, loan guarantee programs, and venture capital programs.
Author :Congressional Research Service Publisher :Createspace Independent Publishing Platform ISBN 13 :9781502915184 Total Pages :44 pages Book Rating :4.9/5 (151 download)
Book Synopsis State Small Business Credit Initiative by : Congressional Research Service
Download or read book State Small Business Credit Initiative written by Congressional Research Service and published by Createspace Independent Publishing Platform. This book was released on 2014-10-16 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Congressional interest in small business access to capital has increased in recent years because of concerns that small businesses might be prevented from accessing sufficient capital to enable them to create and retain jobs and assist in the economic recovery. Some, including President Obama, have argued that the federal government should provide additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations and create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, reform of financial credit market regulation, and federal fiscal restraint as the best means to assist small businesses and create jobs. During the 111th Congress, P.L. 111-240, the Small Business Jobs Act of 2010, provided the Small Business Administration (SBA) additional funding and enhanced several SBA lending programs in an effort to assist small businesses access capital. The act also authorized the Secretary of the Treasury to establish a $1.5 billion State Small Business Credit Initiative (SSBCI). The SSBCI provides funding, allocated by formula and distributed in one-third increments, to states, territories, and eligible municipalities (hereinafter referred to as states) to expand existing or create new state small business investment programs, including state capital access programs, collateral support programs, loan participation programs, loan guarantee programs, and venture capital programs. In most instances, the initial round of funding (called a tranche) took place in FY2011. Most states received their second tranche during FY2013. As of June 30, 2014, 47 states had received at least two tranches and 20 had received their third and final tranche. The remaining states are expected to receive their third and final tranche during FY2015. SSBCI participants are expected to leverage their SSBCI funds to generate new small business lending that is at least 10 times the amount of their SSBCI funds. Forty-seven states; American Samoa; the District of Columbia; Guam; the Northern Mariana Islands; Puerto Rico; the U.S. Virgin Islands; Anchorage, Alaska; two consortiums of municipalities in North Dakota; and a consortium of municipalities in Wyoming currently participate in the program. The Obama Administration has recommended that another $1.5 billion round of funding take place, with applications accepted in FY2015 and state allotments provided in one-half increments starting in FY2015 and continuing through FY2018. The Administration has proposed that $1 billion be competitively awarded to states and $500 million awarded “by a need-based formula based on economic factors such as job losses and pace of economic recovery.” Legislation with provisions similar to the Administration's proposal has been introduced in both the House and the Senate (H.R. 4556 and S. 2285).
Author :Office of Office of the Inspector Department of the Treasury Publisher :CreateSpace ISBN 13 :9781505263015 Total Pages :42 pages Book Rating :4.2/5 (63 download)
Book Synopsis State Small Business Initiative by : Office of Office of the Inspector Department of the Treasury
Download or read book State Small Business Initiative written by Office of Office of the Inspector Department of the Treasury and published by CreateSpace. This book was released on 2015-01-03 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: SSBCI is a $1.5 billion Treasury program that provides participating states, territories and eligible municipalities with funding to strengthen Capital Access Programs and other credit support programs that provide financial assistance to small businesses and manufacturers. Capital Access Programs provide portfolio insurance for business loans based on a separate loan loss reserve fund for each participating financial institution. Other credit support programs include collateral support, loan participation, loan guarantee, and venture capital programs. Each participating state is required to designate specific departments, agencies, or political subdivisions to implement the programs approved for funding.
Author :Office of Office of the Inspector Department of the Treasury Publisher :CreateSpace ISBN 13 :9781505263923 Total Pages :28 pages Book Rating :4.2/5 (639 download)
Book Synopsis State Small Business Credit Initiative by : Office of Office of the Inspector Department of the Treasury
Download or read book State Small Business Credit Initiative written by Office of Office of the Inspector Department of the Treasury and published by CreateSpace. This book was released on 2015-01-03 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: SSBCI is a $1.5 billion Treasury program that provides participating states, territories, and eligible municipalities with funds to strengthen Capital Access Programs and other credit support programs (OCSP) that provide financial assistance to small businesses and manufacturers. Capital Access Programs provide portfolio insurance for business loans based on a separate loan loss reserve fund for each participating financial institution. OCSPs include collateral support, loan participation, loan guarantee, and venture capital programs.
Author :Office of Office of the Inspector Department of the Treasury Publisher :Createspace Independent Publishing Platform ISBN 13 :9781505264128 Total Pages :34 pages Book Rating :4.2/5 (641 download)
Book Synopsis State Small Business Credit Initiative by : Office of Office of the Inspector Department of the Treasury
Download or read book State Small Business Credit Initiative written by Office of Office of the Inspector Department of the Treasury and published by Createspace Independent Publishing Platform. This book was released on 2015-01-03 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: SSBCI is a $1.5 billion Treasury program that provides participating states, territories, and eligible municipalities with funding to strengthen Capital Access Programs (CAPs) and other credit support programs that provide financial assistance to small businesses and manufacturers. CAPs provide portfolio insurance for business loans based on a separate loan loss reserve fund for each participating financial institution. Other credit support programs include collateral support, loan participation, loan guarantee, direct lending, and venture capital programs.
Author :Office of Office of the Inspector Department of the Treasury Publisher :CreateSpace ISBN 13 :9781505265484 Total Pages :28 pages Book Rating :4.2/5 (654 download)
Book Synopsis State Small Business Credit Initiative by : Office of Office of the Inspector Department of the Treasury
Download or read book State Small Business Credit Initiative written by Office of Office of the Inspector Department of the Treasury and published by CreateSpace. This book was released on 2015-01-03 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: SSBCI is a $1.5 billion Treasury program that provides participating states, territories, and eligible municipalities with funds to strengthen Capital Access Programs and other credit support programs (OCSP) that provide financial assistance to small businesses and manufacturers. Capital Access Programs provide portfolio insurance for business loans based on a separate loan loss reserve fund for each participating financial institution. OCSPs include collateral support, loan participation, loan guarantee, and venture capital programs.
Author :Office of Office of the Inspector Department of the Treasury Publisher :CreateSpace ISBN 13 :9781505267990 Total Pages :32 pages Book Rating :4.2/5 (679 download)
Book Synopsis State Small Business Credit Initiative by : Office of Office of the Inspector Department of the Treasury
Download or read book State Small Business Credit Initiative written by Office of Office of the Inspector Department of the Treasury and published by CreateSpace. This book was released on 2015-01-03 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Indiana's Venture Capital Program makes direct investments in high-growth companies through three initiatives, the Indiana High Growth Fund, Indiana Seed Fund Holdings, and the IANF. As of September 30, 2013, Indiana had allocated $21 million of its SSBCI allocation to the Venture Capital Program, of which $9.5 million was allocated to the IANF. As of the same date, the IANF used the SSBCI funds to make 15 investments totaling approximately $2.5 million. Of the $2.5 million invested by the IANF, approximately 32 percent went to the two investments audited. Investment A, approved on July 27, 2012 , totaled $499,986, and Investment B, approved on January 11, 2013, totaled $300,000.
Author :Office of Office of the Inspector Department of the Interior Publisher :CreateSpace ISBN 13 :9781505263268 Total Pages :36 pages Book Rating :4.2/5 (632 download)
Book Synopsis State Small Business Credit Initiative by : Office of Office of the Inspector Department of the Interior
Download or read book State Small Business Credit Initiative written by Office of Office of the Inspector Department of the Interior and published by CreateSpace. This book was released on 2015-01-03 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: SSBCI is a $1.5 billion Treasury program that provides participating states, territories, and eligible municipalities with funding to strengthen CAPs and other credit support programs that provide financial assistance to small businesses and manufacturers. CAPs provide portfolio insurance for business loans based on a separate loan loss reserve fund for each participating financial institution. Other credit support programs include collateral support, loan participation, loan guarantee, and venture capital programs. Each participating state is required to designate specific departments, agencies, or political subdivisions to implement the programs approved for funding. The designated state entity distributes the SSBCI funds to various public and private institutions, which may include a subdivision of another state, a for-profit entity supervised by the state, or a non-profit entity supervised by the state.
Author :Office of Office of the Inspector Department of the Treasury Publisher :CreateSpace ISBN 13 :9781505265279 Total Pages :34 pages Book Rating :4.2/5 (652 download)
Book Synopsis State Small Business Credit Initiative by : Office of Office of the Inspector Department of the Treasury
Download or read book State Small Business Credit Initiative written by Office of Office of the Inspector Department of the Treasury and published by CreateSpace. This book was released on 2015-01-03 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: SSBCI is a $1.5 billion Treasury program that provides participating states, territories, and eligible municipalities with funds to strengthen Capital Access Programs and other credit support programs that provide financial assistance to small businesses and manufacturers. Capital Access Programs provide portfolio insurance for business loans based on a separate loan loss reserve fund for each participating financial institution. Other credit support programs include collateral support, loan participation, loan guarantee, and venture capital programs.
Author :Office of Office of the Inspector Department of the Treasury Publisher :CreateSpace ISBN 13 :9781505263121 Total Pages :30 pages Book Rating :4.2/5 (631 download)
Book Synopsis State Small Business Credit Initiative by : Office of Office of the Inspector Department of the Treasury
Download or read book State Small Business Credit Initiative written by Office of Office of the Inspector Department of the Treasury and published by CreateSpace. This book was released on 2015-01-03 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: SSBCI is a $1.5 billion Treasury program that provides participating states, territories and eligible municipalities with funding to strengthen Capital Access Programs and other credit support programs that provide financial assistance to small businesses and manufacturers. Capital Access Programs provide portfolio insurance for business loans, with a separate loan loss reserve fund for each participating financial institution. Other credit support programs include collateral support, loan participation, loan guarantee, and venture capital programs. Each participating state is required to designate specific departments, agencies, or political subdivisions to implement the programs. Designated state entities may engage in contractual arrangements for the implementation and administration of its state program with an approved program of another state or with a forprofit or not-for-profit entity supervised by the state.
Author :Office of Office of the Inspector Department of the Treasury Publisher :CreateSpace ISBN 13 :9781505264784 Total Pages :36 pages Book Rating :4.2/5 (647 download)
Book Synopsis State Small Business Credit Initiative by : Office of Office of the Inspector Department of the Treasury
Download or read book State Small Business Credit Initiative written by Office of Office of the Inspector Department of the Treasury and published by CreateSpace. This book was released on 2015-01-03 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: We determined that North Carolina appropriately used most of the $4.9 million in SSBCI funds obligated or expended that we tested, but contributed $6,690 to a reserve fund under the Capital Access Program for a loan that refinanced one previously made to the borrower by the same lender. Such refinancings are prohibited by the Act and constitute a misuse of funds. Prior to the transfer of SSBCI funds, North Carolina collected two separate documents from the lender attesting that the loan being enrolled was not made for a prohibited purpose.
Download or read book Louisiana written by and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis State Small Business Credit Initiative by : Daniel Garcia-Diaz
Download or read book State Small Business Credit Initiative written by Daniel Garcia-Diaz and published by . This book was released on 2013-01-24 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Small Business Jobs Act of 2010 created the State Small Business Credit Initiative (SSBCI) within the Treasury Department (Treasury). The program provides direct funding to participants for programs that expand access to capital for small businesses. The act mandates that GAO conduct an annual audit of the program. GAO's first two reports examined Treasury's implementation of SSBCI and its processes for monitoring compliance and procedures for evaluating and communicating program outcomes. This third report examines, among other things, the extent to which (1) participants have used their SSBCI allocations and faced challenges in using the funds; and (2) Treasury has used performance measures and program evaluation to manage SSBCI. Tables and figures. This is a print on demand report.