Notice2022-20326
Request for Information-State Small Business Credit Initiative (SSBCI) Technical Assistance Funds
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
September 20, 2022
Issuing agencies
Treasury Department
Abstract
The State Small Business Credit Initiative (SSBCI) provides funds to States, Territories, the District of Columbia, and Tribal governments to enable these jurisdictions to support programs for small businesses. The Department of the Treasury (Treasury) is authorized to provide up to $500 million in support for small business technical assistance (TA) programs. Treasury invites the public to comment on how Treasury can use its authorities to fund TA to very small businesses (VSBs) and business enterprises owned and controlled by socially and economically disadvantaged individuals (SEDI-owned businesses) \1\ applying to SSBCI credit and investment programs and other jurisdiction and Federal programs that support small businesses. Responses may be used to inform Treasury's future actions. ---------------------------------------------------------------------------
Full Text
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<title>Federal Register, Volume 87 Issue 181 (Tuesday, September 20, 2022)</title>
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[Federal Register Volume 87, Number 181 (Tuesday, September 20, 2022)]
[Notices]
[Pages 57558-57559]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-20326]
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DEPARTMENT OF THE TREASURY
Request for Information--State Small Business Credit Initiative
(SSBCI) Technical Assistance Funds
AGENCY: Departmental Offices, Treasury.
ACTION: Request for information.
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SUMMARY: The State Small Business Credit Initiative (SSBCI) provides
funds to States, Territories, the District of Columbia, and Tribal
governments to enable these jurisdictions to support programs for small
businesses. The Department of the Treasury (Treasury) is authorized to
provide up to $500 million in support for small business technical
assistance (TA) programs. Treasury invites the public to comment on how
Treasury can use its authorities to fund TA to very small businesses
(VSBs) and business enterprises owned and controlled by socially and
economically disadvantaged individuals (SEDI-owned businesses) \1\
applying to SSBCI credit and investment programs and other jurisdiction
and Federal programs that support small businesses. Responses may be
used to inform Treasury's future actions.
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\1\ SEDI-owned businesses are defined and described in SSBCI
guidance. See State Small Business Credit Initiative Technical
Assistance Grant Program Guidelines, <a href="https://home.treasury.gov/system/files/136/SSBCI-Technical-Assistance-Guidelines-April-2022.pdf">https://home.treasury.gov/system/files/136/SSBCI-Technical-Assistance-Guidelines-April-2022.pdf</a>; State Small Business Credit Initiative Capital Program
Policy Guidelines, <a href="https://home.treasury.gov/system/files/256/SSBCI-Capital-Program-Policy-Guidelines-November-2021.pdf">https://home.treasury.gov/system/files/256/SSBCI-Capital-Program-Policy-Guidelines-November-2021.pdf</a>.
DATES: Responses must be received by October 20, 2022 to be assured of
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consideration.
ADDRESSES: Please submit comments electronically through the Federal
eRulemaking Portal: <a href="http://www.regulations.gov">http://www.regulations.gov</a>. All comments should be
captioned with ``SSBCI Request for Information Comments.'' Please
include your name, organization (if applicable), and email addresses.
Where appropriate, a comment should include a short executive summary.
In general, comments received will be posted on <a href="http://www.regulations.gov">http://www.regulations.gov</a> without change, including any business or personal
information provided. Comments received, including attachments and
other supporting materials, will be part of the public record and
subject to public disclosure. Do not enclose any information in your
comment or supporting materials that you consider confidential or
inappropriate for public disclosure.
FOR FURTHER INFORMATION CONTACT: Jeffrey Stout, at (866) 220-9050 or
<a href="/cdn-cgi/l/email-protection#e2919180818bbd8b8c848d908f83968b8d8ca2969087839197909bcc858d94"><span class="__cf_email__" data-cfemail="2c5f5f4e4f457345424a435e414d584543426c585e494d5f595e55024b435a">[email protected]</span></a>. Further information may be obtained
from the SSBCI website, <a href="https://home.treasury.gov/policy-issues/small-business-programs/state-small-business-credit-initiative-ssbci">https://home.treasury.gov/policy-issues/small-business-programs/state-small-business-credit-initiative-ssbci</a>.
SUPPLEMENTARY INFORMATION:
Purpose: This request for information (RFI) offers the public the
opportunity to provide information on effective approaches for the
delivery of TA through SSBCI. Specifically, Treasury requests
information on how it can most effectively use its authority under 12
U.S.C. 5708(e)(1) and (3) to provide funds to jurisdictions and to
contract with legal, accounting, and financial advisory firms to
provide TA to qualifying businesses applying to SSBCI credit and
investment programs run by jurisdictions and other jurisdiction and
Federal programs that support small businesses.
Background: The American Rescue Plan Act of 2021 (ARPA)
reauthorized and amended the Small Business Jobs Act of 2010 (SSBCI
statute) to provide $10 billion to fund SSBCI as a response to the
economic effects of the COVID-19 pandemic.\2\ Specifically, ARPA
provided over $9 billion to fund small business programs of eligible
jurisdictions (i.e., states, the District of Columbia, territories, and
Tribal governments) and up to $500 million for TA to qualifying
businesses. Under the SSBCI statute (12 U.S.C. 5708(e)), Treasury may
deploy the $500 million for TA in three ways: \3\
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\2\ ARPA, Public Law 117-2, sec. 3301, codified at 12 U.S.C.
5701 et seq. SSBCI was originally established in title III of the
Small Business Jobs Act of 2010. Information about SSBCI is
available at: <a href="https://home.treasury.gov/policy-issues/small-business-programs/state-small-business-credit-initiative-ssbci">https://home.treasury.gov/policy-issues/small-business-programs/state-small-business-credit-initiative-ssbci</a>.
\3\ 12 U.S.C. 5708(e).
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<bullet> TA funding to eligible jurisdictions: Treasury may provide
funds to eligible jurisdictions to carry out a TA plan under which a
jurisdiction will provide legal, accounting, and financial advisory
services, either directly or contracted with legal, accounting, and
financial advisory firms, with priority given to SEDI-owned businesses,
to VSBs and SEDI-owned businesses applying for SSBCI capital programs
and other jurisdiction or Federal programs that support small
businesses.
<bullet> TA funding to the Minority Business Development Agency
(MBDA): Treasury may transfer amounts to the MBDA so that the MBDA may
use such amounts in a matter it determines appropriate, including
through contracting with third parties, to provide TA to SEDI-owned
businesses applying to SSBCI capital programs and
[[Page 57559]]
other jurisdiction or Federal programs that support small businesses.
<bullet> TA funding to TA providers: Treasury may contract with
legal, accounting, and financial advisory firms (with priority given to
SEDI-owned businesses), to provide TA to SEDI-owned businesses applying
to SSBCI capital programs and other jurisdiction or Federal programs
that support small businesses.
Treasury previously allocated $200 of the $500 million in TA
funding to an SSBCI TA Grant Program to support jurisdictions' TA plans
and $100 million to the MBDA.\4\ This RFI relates specifically to how
Treasury might allocate additional funding to jurisdictions or contract
with TA providers.
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\4\ See Treasury Announces Plans to Deploy $300 Million in
Technical Assistance to Underserved Entrepreneurs and Very Small
Businesses through the State Small Business Credit Initiative (April
28, 2022), <a href="https://home.treasury.gov/system/files/136/SSBCITA-Release-4-28-22.pdf">https://home.treasury.gov/system/files/136/SSBCITA-Release-4-28-22.pdf</a>.
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How to Comment: This RFI is for information and planning purposes
only and should not be construed as a solicitation or as an obligation
on the part of Treasury. We ask respondents to address the Key
Questions listed below. You do not need to address every question and
should focus on those where you have views or relevant expertise.
Please clearly indicate which questions you are addressing in your
response. You may provide detailed suggestions and examples. All
comments received, including attachments and other supporting
materials, are part of the public record and subject to public
disclosure. You should only submit information that you wish to make
publicly available.
Guidance for Submitting Documents: We ask that each respondent
include their name, organization (if applicable), and email addresses.
Key Questions:
1. Gaps in TA to small businesses. What gaps exist in the types and
availability of TA to small businesses that seek small business
financing? In particular, Treasury is considering the following gaps:
<bullet> across the business life cycle--seed, early stage,
intermediate, and established;
<bullet> across the capital continuum between debt and venture
capital/equity financing;
<bullet> across different industries (for example, do small
manufacturing businesses face different hurdles than small businesses
in other industries?); and
<bullet> across different geographies and regions.
2. Most effective method to deploy TA funding. How can the
deployment of TA funding under 12 U.S.C. 5708(e)(1) and (3) most
effectively impact VSBs and SEDI-owned businesses in communities
throughout the United States?
3. Considerations for a competitive TA grant program. If Treasury
conducted a program to provide competitive grants to jurisdictions, in
addition to the existing pre-allocated SSBCI TA Grant Program, what
criteria should Treasury consider in selecting recipients and sizing
awards?
4. Considerations for contracting. If Treasury contracted with
legal, accounting, and financial advisory firms to provide TA to
qualifying SEDI-owned businesses under 12 U.S.C. 5708(e)(3), what types
of entities are best positioned to provide TA to address gaps in TA
availability? Please provide specific examples.
5. Leveraging TA funding. How could the Federal TA funding crowd in
and leverage private, nonprofit, and philanthropic funds for the same
purposes? Are there existing private sector, nonprofit, and
philanthropic funded TA services for VSBs and SEDI-owned businesses and
how could Treasury's efforts leverage that funding?
6. Other comments. Do you have any other comments on any aspect of
the deployment of the TA funding under 12 U.S.C. 5708(e)(1) and (3)?
Jeffrey Stout,
Director, SSBCI.
[FR Doc. 2022-20326 Filed 9-19-22; 8:45 am]
BILLING CODE 4810-AK-P
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