Issue Brief 13-23
July 31, 2013

On September 27, 2010, President Obama signed the Small Business Jobs Act of 2010 (P.L. 111-240) to assist small businesses in accessing investment capital. One of the programs established in the act, the State Small Business Credit Initiative (SSBCI), includes a $1.5 billion formula grant within the Department of Treasury to strengthen state and territorial programs that support lending to small businesses and manufacturers. Since SSBCI was created, less than $400 million of the funds appropriated have been spent or obligated. All SSBCI allocation agreements expire on March 31, 2017