Stories of Technology, Innovation, & Entrepreneurship in the Southeast

Knoxville Business News Tennessee Mountain Scenery Background
January 09, 2023 | Tom Ballard

Tennessee still awaiting approval of SSBCI 2.0 plan

While the Volunteer State waits, 33 other states have at least one equity program approved.

If your New Year’s wishes included approval of Tennessee’s plan for use of its allocation of the federal “State Small Business Credit Initiative” (SSBCI), you are still waiting.

The State Science and Technology Institute, better known as SSTI, reported in its most recent SSTI Weekly Digest that 33 states have been approved for at least one equity program through what is referred to as SSBCI 2.0 as of December 2022. The states are: Alaska, Arizona, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Vermont, Virginia, West Virginia.

Four of our neighbors are also awaiting, according to this SSTI map. They are Alabama, Arkansas, Kentucky, and Mississippi. There’s another geographic cluster of five sort of western states – Idaho, Montana, South Dakota, Washington, and Wyoming.