OCC: Community Developments Investments (February 2013) – State Small Business Credit Initiative (SSBCI)

Community Developments Investments (February 2013)

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.
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.
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.
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.
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.
Resources A list of useful links to help banks and borrowers find out about the options available to them.