State Small Business Initiative

Author : Marcus Powell
Publisher : Nova Science Publishers
ISBN 13 : 9781624174827
Total Pages : 0 pages
Book Rating : 4.25/5 ( download)

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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.

Author : Office of Office of the Inspector Department of the Treasury
Publisher : CreateSpace
ISBN 13 : 9781505263015
Total Pages : 42 pages
Book Rating : 4.18/5 ( download)

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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 Treasury
Publisher : CreateSpace
ISBN 13 : 9781505263688
Total Pages : 30 pages
Book Rating : 4.89/5 ( download)

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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.

Author : Office of Office of the Inspector Department of the Treasury
Publisher : CreateSpace
ISBN 13 : 9781505265484
Total Pages : 28 pages
Book Rating : 4.87/5 ( download)

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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 : 9781505267884
Total Pages : 34 pages
Book Rating : 4.89/5 ( download)

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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 : Congressional Research Congressional Research Service
Publisher : CreateSpace
ISBN 13 : 9781503272347
Total Pages : 46 pages
Book Rating : 4.46/5 ( download)

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Download or read book State Small Business Credit Initiative: Implementation and Funding Issues written by Congressional Research Congressional Research Service and published by CreateSpace. This book was released on 2014-11-01 with total page 46 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). This report examines the 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). These initial audits suggest that SSBCI participants are generally complying with the statute's requirements, but that some compliance problems exist; Treasury's oversight of the program could be improved; and performance measures are needed to assess the program's efficacy.

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 : 4.2X/5 ( download)

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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 : 9781505265279
Total Pages : 34 pages
Book Rating : 4.74/5 ( download)

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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 : 9781505263923
Total Pages : 28 pages
Book Rating : 4.21/5 ( download)

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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 Interior
Publisher : CreateSpace
ISBN 13 : 9781505263268
Total Pages : 36 pages
Book Rating : 4.63/5 ( download)

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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.