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State Small Business Credit Initiative

Nearly $202 million in federal funding coming to North Carolina is planned to support small businesses throughout the state through lending initiatives and equity investments in venture capital funds. The NC Rural Center has been allocated this allotment of State Small Business Credit Initiative (SSBCI) funding to continue these programs by the US Treasury Department through the NC State Legislature’s recently passed budget. 

This allocation is part of a second round of funding for SSBCI, an initiative first established by the Small Business Jobs Act of 2010 and funded by the U.S. Department of the Treasury that has since been managed by the NC Rural Center, and is now funded through the American Rescue Plan Act (ARPA).

You can read more information about the steps necessary before this program can begin here. We expect to have approval in the spring of 2022. 

We partner with community banks, CDFIs, and equity fund managers directly to enhance small businesses ability to access the capital they need to grow their business, through three programs: Loan Participation Program (LPP), Capital Access Program (CAP), and the NC Venture Capital Program

Are you a lender interested in participating? We invite you to read more about each of these programs, their criteria, and eligibility requirements by clicking the individual links above. 

Are you a small business looking for capital? Small businesses and entrepreneurs cannot access SSBCI funds directly through these programs, coming soon is a list of our participating lending partners who currently use the programs above, should you wish to engage with them.