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July 11, 2021 | Tom Ballard

TNECD seeks input from stakeholders on plan to disperse SSBCI 2.0

The Tennessee Department of Economic and Community Development (TNECD) is seeking input as it develops a plan to utilize more than $65 million that has been allocated to Tennessee through the U.S. Department of Treasury’s second installment of the “State Small Business Credit Initiative (SSBCI 2.0)” that is part of the “American Jobs Plan.”

In the latest edition of the TNECD Weekly Recap, the state agency announced a survey to gather information related to the access to capital and technical assistance needs of small businesses. It is the first part of a three-step process that TNECD describes as “Discover . . . Design . . . Deploy” the latest edition of the program. In its initial incarnation in the first part of the 2010-11 period, Tennessee secured almost $30 million for its SSBCI program, so this amount is more than double the earlier allocation.

“All small and diverse businesses, entrepreneur support organizations, stakeholders and organizations that act as lenders or funders to small businesses are encouraged to participate and provide feedback,” TNECD wrote.

To access the survey, click here. Participants have until August 2 to submit responses.

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