Texas Small Business Credit Initiative
On March 11, 2021, the U.S. Congress enacted the American Rescue Plan Act, which, in part,
provides $10 billion to fund the State Small Business Credit Initiative (SSBCI).
Administered by the U.S. Department of the Treasury, this initiative is the second installment
of the program originally passed under the Small Business Jobs Act of 2010.
The objective of SSBCI is to support state programs that provide resources to assist small
business growth and create new jobs through increased access to small business funding. In
addition, the program will assist small businesses that are traditionally marginalized and
those that have been impacted by the COVID-19 pandemic. The Texas Small Business Credit Initiative
is expected to be allocated more than $472 million and the State of Texas is focused on staying
apprised of the latest program information released by the U.S. Department of the Treasury.
For more information, please visit the U.S. Department of the Treasury’s website. Additional guidance,
forms, and other resources with information about the 2021 SSBCI program will be posted as details are available.