{"id":3686,"date":"2022-10-17T14:54:57","date_gmt":"2022-10-17T14:54:57","guid":{"rendered":"https:\/\/altoonanow.org\/?p=3686"},"modified":"2022-10-17T15:54:57","modified_gmt":"2022-10-17T15:54:57","slug":"state-small-business-credit-initiative-sscbi","status":"publish","type":"post","link":"https:\/\/altoonanow.org\/state-small-business-credit-initiative-sscbi\/","title":{"rendered":"State Small Business Credit Initiative (SSCBI)"},"content":{"rendered":"<p>The State Small Business Credit Initiative (SSCBI) is a $96 million investment in growing Iowa&#8217;s small businesses, including startups, manufacturers and businesses owned by veterans and individuals from diverse backgrounds. The funding is available through the U.S. Treasury Department&#8217;s SSBCI, a small business aid program that was expanded through the federal American Rescue Plan Act.<!--more--><\/p>\n<p>The Treasury Department approved Iowa&#8217;s amount based on a plan submitted by the Iowa Economic Development Authority (IEDA). Iowa&#8217;s SSBCI dollars will focus on encouraging venture capital and investment in scalable innovation companies through the following programs:<\/p>\n<ul>\n<li><strong>Loan Participation Program for Manufacturing 4.0 Investments<\/strong>: $28 million to help Iowa manufacturers invest in the new technologies that are transforming the industry. The state will purchase part of the loan to help offset risk for lenders.<\/li>\n<li><strong>Small Business Collateral Support Program<\/strong>: $15 million to help small businesses offset collateral shortfalls as they secure loans through commercial lenders. Eligible borrower&#8217;s owners include small businesses that are 51% owned by women, individuals from diverse backgrounds, veterans, individuals with disabilities, and long-term rural residents; and small businesses that enhance arts and culture in Iowa.<\/li>\n<li><strong>Venture Capital Innovation Fund Program<\/strong>: $22 million to increase funding opportunities across the state&#8217;s assistance programs for entrepreneurs. This fund also will provide more funding to address gaps in startup development phases as businesses work through concept, launch and expansion.<\/li>\n<li><strong>Venture Capital Co-Investment Fund Program<\/strong>: $31 million to process and hold equity investments in private companies and ensure investments are qualified.<\/li>\n<\/ul>\n<p>More information on these programs will be provided in the coming weeks from the <a href=\"https:\/\/www.iowaeda.com\/state-small-business-credit-initiative\/\">Iowa Economic Development Authority<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The State Small Business Credit Initiative (SSCBI) is a $96 million investment in growing Iowa&#8217;s small businesses, including startups, manufacturers and businesses owned by veterans and individuals from diverse backgrounds. The funding is available through the U.S. Treasury Department&#8217;s SSBCI, a small business aid program that was expanded through the federal American Rescue Plan Act.<\/p>\n","protected":false},"author":2,"featured_media":3689,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>State Small Business Credit Initiative (SSCBI) - Altoona Now!<\/title>\n<meta name=\"description\" content=\"SSCBI is a $96M investment in growing Iowa\u2019s small businesses, including startups, manufacturers and businesses owned by veterans &amp; those from diverse backgrounds.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/altoonanow.org\/state-small-business-credit-initiative-sscbi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$96M Investment in Iowa\u2019s Small Businesses\" \/>\n<meta property=\"og:description\" content=\"Learn more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/altoonanow.org\/state-small-business-credit-initiative-sscbi\/\" \/>\n<meta property=\"og:site_name\" content=\"Altoona Now!\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-17T14:54:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-17T15:54:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/altoonanow.org\/wp-content\/uploads\/2022\/10\/shutterstock_511210861-1024x680.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"680\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Courtney Healy\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"$96M Investment in Iowa\u2019s Small Businesses\" \/>\n<meta name=\"twitter:description\" content=\"Learn more\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/altoonanow.org\/wp-content\/uploads\/2022\/10\/shutterstock_511210861-1.jpg.webp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Courtney Healy\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"State Small Business Credit Initiative (SSCBI) - Altoona Now!","description":"SSCBI is a $96M investment in growing Iowa\u2019s small businesses, including startups, manufacturers and businesses owned by veterans & those from diverse backgrounds.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/altoonanow.org\/state-small-business-credit-initiative-sscbi\/","og_locale":"en_US","og_type":"article","og_title":"$96M Investment in Iowa\u2019s Small Businesses","og_description":"Learn more","og_url":"https:\/\/altoonanow.org\/state-small-business-credit-initiative-sscbi\/","og_site_name":"Altoona Now!","article_published_time":"2022-10-17T14:54:57+00:00","article_modified_time":"2022-10-17T15:54:57+00:00","og_image":[{"width":1024,"height":680,"url":"https:\/\/altoonanow.org\/wp-content\/uploads\/2022\/10\/shutterstock_511210861-1024x680.jpg","type":"image\/jpeg"}],"author":"Courtney Healy","twitter_card":"summary_large_image","twitter_title":"$96M Investment in Iowa\u2019s Small Businesses","twitter_description":"Learn more","twitter_image":"https:\/\/altoonanow.org\/wp-content\/uploads\/2022\/10\/shutterstock_511210861-1.jpg.webp","twitter_misc":{"Written by":"Courtney Healy","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/altoonanow.org\/state-small-business-credit-initiative-sscbi\/","url":"https:\/\/altoonanow.org\/state-small-business-credit-initiative-sscbi\/","name":"State Small Business Credit Initiative (SSCBI) - Altoona Now!","isPartOf":{"@id":"https:\/\/altoonanow.org\/#website"},"primaryImageOfPage":{"@id":"https:\/\/altoonanow.org\/state-small-business-credit-initiative-sscbi\/#primaryimage"},"image":{"@id":"https:\/\/altoonanow.org\/state-small-business-credit-initiative-sscbi\/#primaryimage"},"thumbnailUrl":"https:\/\/altoonanow.org\/wp-content\/uploads\/2022\/10\/shutterstock_511210861.jpg.webp","datePublished":"2022-10-17T14:54:57+00:00","dateModified":"2022-10-17T15:54:57+00:00","author":{"@id":"https:\/\/altoonanow.org\/#\/schema\/person\/050604037d923b7c9a6aa98763c674b5"},"description":"SSCBI is a $96M investment in growing Iowa\u2019s small businesses, including startups, manufacturers and businesses owned by veterans & those from diverse backgrounds.","breadcrumb":{"@id":"https:\/\/altoonanow.org\/state-small-business-credit-initiative-sscbi\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/altoonanow.org\/state-small-business-credit-initiative-sscbi\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/altoonanow.org\/state-small-business-credit-initiative-sscbi\/#primaryimage","url":"https:\/\/altoonanow.org\/wp-content\/uploads\/2022\/10\/shutterstock_511210861.jpg.webp","contentUrl":"https:\/\/altoonanow.org\/wp-content\/uploads\/2022\/10\/shutterstock_511210861.jpg.webp","width":2500,"height":1660},{"@type":"BreadcrumbList","@id":"https:\/\/altoonanow.org\/state-small-business-credit-initiative-sscbi\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/altoonanow.org\/"},{"@type":"ListItem","position":2,"name":"State Small Business Credit Initiative (SSCBI)"}]},{"@type":"WebSite","@id":"https:\/\/altoonanow.org\/#website","url":"https:\/\/altoonanow.org\/","name":"Altoona Now!","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/altoonanow.org\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/altoonanow.org\/#\/schema\/person\/050604037d923b7c9a6aa98763c674b5","name":"Courtney Healy","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/altoonanow.org\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/648f817ad11a42c84a45a4e873afb256?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/648f817ad11a42c84a45a4e873afb256?s=96&d=mm&r=g","caption":"Courtney Healy"},"url":"https:\/\/altoonanow.org\/author\/courtney\/"}]}},"_links":{"self":[{"href":"https:\/\/altoonanow.org\/wp-json\/wp\/v2\/posts\/3686"}],"collection":[{"href":"https:\/\/altoonanow.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/altoonanow.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/altoonanow.org\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/altoonanow.org\/wp-json\/wp\/v2\/comments?post=3686"}],"version-history":[{"count":1,"href":"https:\/\/altoonanow.org\/wp-json\/wp\/v2\/posts\/3686\/revisions"}],"predecessor-version":[{"id":3688,"href":"https:\/\/altoonanow.org\/wp-json\/wp\/v2\/posts\/3686\/revisions\/3688"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/altoonanow.org\/wp-json\/wp\/v2\/media\/3689"}],"wp:attachment":[{"href":"https:\/\/altoonanow.org\/wp-json\/wp\/v2\/media?parent=3686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/altoonanow.org\/wp-json\/wp\/v2\/categories?post=3686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/altoonanow.org\/wp-json\/wp\/v2\/tags?post=3686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}