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Community Developments Investments (February 2013)

  Banner for Small Business Credit Initiative  
A Look Inside ...
States are finding creative ways to implement the State Small Business Credit Initiative, a federal program designed to increase the amount of credit available for small business.
  Karol Klim, Community Affairs Officer at the OCC’s Atlanta field office, answers questions on regulatory issues at the State Small Business Credit Initiative Conference in Chicago on October 1, 2012.

Overview: The State Small Business Credit Initiative
A look at some of the most popular programs for getting SSBCI funds to banks to support lending.

  The Department of the Treasury building in Washington, D.C. The department works with states to implement the SSBCI program, which was created as part of the Small Business Jobs Act of 2010.
Case Study: How Idaho Put the SSBCI to Work
Idaho worked with lending institutions and benchmarked other successful state programs to design their SSBCI program. Participating lenders report that SSBCI funds help them meet the needs of creditworthy customers and contribute to the growth of the state’s economy.
  The number of women-owned businesses in the United States grew 44 percent from 1997 to 2007, a 2010 study by the Commerce Department found. These businesses now account for 30 percent of all U.S. firms.
Case Study: Collateral Support Program Helps Idaho Create Jobs
The initiative allowed an established manufacturer to get a loan to expand, even though its collateral had declined in value and fell short of traditional underwriting standards.
  Irrigation machine in field
Case Study: Loan Participation Program Aids Georgia Veterinarian
In Georgia, a rural veterinary business with good cash flow and a prominent place in the community was able to keep its doors open with SSBCI help after being turned down for a loan renewal.
  Georgia SSBCI logo
Resources
A list of useful links to help banks and borrowers find out about the options available to them.
  Store worker with watering can