Texas Small Business Credit Initiative
We are pleased to announce that the State of Texas’ State Small Business Credit Initiative (SSBCI) allocation agreement has been signed by the U.S. Department of the Treasury, funding the Texas Small Business Credit Initiative (TSBCI) programs. On Monday, October 9, 2023 through Saturday December 9, 2023 the TSBCI web portal will be open to accept applications from financial institutions interested in participating in the program. Loan enrollment will begin Monday, January 15, 2024.
Socially and Economically Disadvantaged Individuals (SEDI), Very Small Businesses (VSB) or other business owners should contact their preferred lender to encourage their participation in TSBCI programs as a financial institution. Texas will administer two programs under TSBCI: a Capital Access Program (CAP) and a Loan Guarantee Program (LGP), which are open to eligible new and existing Texas businesses with 499 or fewer employees.
These programs will assist small business growth and create new jobs through increased access to small business funding. In addition, the TSBCI programs will assist all small businesses, but will focus on traditionally marginalized and those that have been impacted by the COVID-19 pandemic. TSBCI is administered by EDT’s Economic Development Finance Division, within the Office of the Governor, on behalf of the U.S. Department of the Treasury.
For more information about the federal SSBCI program, please visit the U.S. Department of the Treasury’s website. Additional guidance, forms and other resources related to Texas' TSBCI program will be posted to this webpage as details become available.