States and tribes have disbursed about 40 percent of State Small Business Credit Initiative funds
Only six jurisdictions have received their third and final tranche of dollars.
The U.S. Department of the Treasury recently released a report on the State Small Business Credit Initiative (SSBCI) program with data through December 31, 2024.
That’s the three-component program known as Fund Tennessee that, in turn, has allocated dollars to InvestTN, managed by Launch Tennessee, and LendTN and AssistTN, managed by the Tennessee Department of Economic and Community Development.
As of the end of 2024, Treasury has disbursed nearly $4 billion of the $10 billion set aside for the program in the 2021 American Rescue Plan of Act. In terms of the three-tranche, formula-based allocation structure of the SSBCI program, the report documents the first disbursement to 130 jurisdictions, the second for 20, and the third, or final, tranche for six.
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