SSBCI Annual Report 2022-2023 — U.S. Department of the Treasury
Summary
The SSBCI Annual Report 2022-2023 from the U.S. Department of the Treasury summarizes participating jurisdictions' first eighteen months of State Small Business Credit Initiative implementation data, through December 31, 2023. The introductory letter from Jessica Milano and Jeff Stout reports nearly $750 million in SSBCI funds expended, resulting in $3.1 billion in overall new financing, which includes $2.6 billion in private investment. It states that 75% of all transactions supported underserved businesses, and jurisdictions reported over 46,000 jobs expected to be created or retained. As of October 2024, Treasury has approved applications for $8.9 billion in capital program funding, including $524 million for 236 Tribal governments. The report states that jurisdiction data have not been verified by Treasury.
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SSBCI Annual Report 2022-2023
Table of Contents
I. Introductory Letter................................................................................ 1
II. Executive Summary.............................................................................. 3
III. Improving Access to Loans for Small Businesses................................... 6
IV. Venture Capital Investments to Grow Innovative Start Ups.................... 8
V. Investment in Tribal Economies and Entrepreneurs.............................. 11
VI. Demographic Characteristics of Businesses that Received
SSBCI-supported Financing.................................................................. 13
VII. Top Industries ...................................................................................... 15
VIII. Support for Capital Access Through Technical Assistance...................... 17
IX. Appendix .............................................................................................. 20
ii SSBCI Annual Report 2022-2023
I. Introductory Letter
In March 2021, in the midst of the COVID-19 pandemic, Congress made an historic investment in the country’s
small businesses and entrepreneurs by reauthorizing and expanding the U.S. Department of the Treasury’s
(Treasury) State Small Business Credit Initiative (SSBCI) through the American Rescue Plan (ARPA). While
many pandemic-era programs provided immediate and short-term emergency support, SSBCI funded
programs meant to help businesses stabilize, grow, and contribute to a broader, longer-term economic
recovery. The programs funded by SSBCI and the resulting capacity and partnerships will enable small
business lending and investing for decades.
Today, the landscape for small businesses is dramatically improved. The years 2021-2023 saw record new
business starts, hitting 19 million new business applications over this period with a monthly average of
440,000 – 46% higher than the average of the prior four years combined. However, small, early stage,
women- and minority-owned businesses and other underserved businesses continue to face obstacles
financing their businesses.
SSBCI helps fill those gaps by providing funding to states, the District of Columbia, territories, and Tribal
governments, allowing jurisdictions to tailor small business financing programs to local market challenges
and opportunities. The small business financing and technical assistance programs described in this report
are designed to improve the flow of capital to small businesses across the nation and in Indian Country. With
nearly $10 billion to be invested in small business success over the course of the program, SSBCI will continue
to unlock access to private capital and critical technical assistance to bolster small business support
networks across the country.
A lot has changed since the first iteration of SSBCI which operated from 2011 to 2017. Jurisdictions have
access to nearly 6 times the funding. They operate more than twice the number of programs and partners.
For the first time, over 230 Tribal governments participate in SSBCI Treasury’s allocation of over $500 million
in SSBCI funding to Tribal Nations which is the largest federal investment in Indian Country small businesses
in history. Importantly, SSBCI now incorporates technical assistance programming to help businesses
become credit and investment ready and to navigate the sources of state and federal small business support.
In this report, we are pleased to present a summary of participating jurisdictions’ first eighteen months of
SSBCI implementation data, from the first transaction on August 5th, 2022 through December 31, 2023.
SSBCI Annual Report 2022-2023 1
These data reflect the impact of the program to date and are only the start of the program’s reach to small
businesses, including those that have been historically underserved.
• Nearly $750 million in SSBCI funds expended resulting in $3.1 billion in overall new financing, which
includes $2.6 billion in private investment.1
• 75% of all transactions supported underserved businesses; 40% were reported as supporting
minority-owned businesses and 31% for women-owned or controlled companies.
• 78% of all transactions supported very small businesses with fewer than 10 employees.
• As much as 9% of transactions supported companies in rural communities.
• Over 31% of participating lenders are Community Development Financial Institutions (CDFIs) and 51%
are community banks2 embedded in their communities.
• Jurisdictions expended $211 million to support startups and innovation companies.
• Though jurisdictions continue to commit to venture capital funds, to date 60 funds are participating in
SSBCI – and 39 of those funds are owned/managed by diverse or underserved fund managers or have an
investment strategy that includes a focus on supporting companies with underserved founders/leaders.
On behalf of the SSBCI Team at Treasury, we would like to commend participating jurisdictions for their
efforts to support small businesses with access to capital through this program – and look forward to
continuing the partnership in the years to come.
Jessica Milano Jeff Stout
Chief Program Officer Deputy Chief Program Officer for
Small Business and Community Investment Programs
1 “SSBCI funds expended” reflects SSBCI allocated funds expended for transactions (e.g., loan participations or investments) or set aside for guarantees or collateral support
obligations. In this report, “Overall new financing” reflects the “loan or investment transaction amount” plus “concurrent private financing” and “subsequent private financing” as
defined in SSBCI Capital Program Reporting Guidance. “Private financing” reflects the overall new financing amount less any SSBCI allocated or recycled funds that were included in
the reported transaction amounts.
2 Community banks are defined as having under $10 billion in total assets.
2 SSBCI Annual Report 2022-2023
II. Executive Summary 3, 4
The State Small Business Credit Initiative (SSBCI) represents
Fast Facts: SSBCI 2022/2023 Reports Overview
a nearly $10 billion investment to support small businesses in
communities across the United States by providing capital and • Nearly 3,900 transactions
technical assistance to promote small business stability, growth, • Nearly $750 million of SSBCI funding
and success. SSBCI is expected to catalyze up to $10 of private expended
investment for every $1 of SSBCI Capital Program funding to
• $3.1 billion in overall new financing for
increase access to capital for small businesses and entrepreneurs,
small businesses
including those in underserved communities, and is projected to
• As many as 46,000 jobs expected to be
support as many as 100,000 small businesses.
created or retained
Reauthorized and expanded by ARPA, the SSBCI Capital • 75% of transactions support underserved
Program provides funding to states, the District of Columbia, businesses
territories, and Tribal governments (jurisdictions) to create • 78% of supported businesses had 10 or
tailored programs that offer funding to small businesses and fewer employees
entrepreneurs through equity/venture capital, loan participation,
loan guarantee, collateral support, and capital access programs.
As of October 2024, Treasury has approved applications for $8.9 billion in SSBCI funding for capital programs,
including $524 million for 236 Tribal governments. This represents all applications from states and territories and
many applications submitted by Tribal governments.5
Figure 1: Overall New Financing Supported by SSBCI
In 2022-2023, 52 jurisdictions6
participating in SSBCI reported
transactions with the first
transactions taking place in
August 2022. For each
transaction supported by
SSBCI, jurisdictions reported
certain characteristics of small
business borrowers or
investees, including any self-
reported demographic data,
total private financing
leveraged, and total SSBCI
expenditures, among other
data points.7
In this period, jurisdictions
reported expending nearly
$750 million in SSBCI funds to
support and leverage a further $2.6 billion in private financing, representing nearly 3,900 loans or investments to
3 Treasury previously published a preliminary summary of Participating Jurisdictions’ 2022 and 2023 annual reports in July 2024. This report reflects additional data analysis and
supersedes the July 2024 report. Additional methodology and background for this report can be found in Treasury’s Capital Program Reporting Guidance.
4 Data on fund deployment by Participating Jurisdictions throughout this report are as reported by Participating Jurisdictions to Treasury, which include transactions that may be
under active review by Treasury or other bodies, have not been verified by Treasury, and may be revised in the future.
5 State and territory Capital Program applications were due on February 11, 2022. Tribal government Capital Program applications were due on October 31, 2022.
6 This summary of Jurisdictions Annual Reports is based on data submitted by the jurisdictions in their Annual Reports as of December 31, 2023. Of the approved participating
jurisdictions, Treasury required twenty jurisdictions to submit annual reports for 2022 and/or 2023. All jurisdictions required to submit reports did so.
7 “SSBCI allocated funds expended” reflects SSBCI allocated funds expended for transactions (e.g., loan participations or investments) or set aside for guarantees or collateral support obligations.
“Overall new financing” reflects the “loan or investment transaction amount” plus “concurrent private financing” and “subsequent private financing” as defined in SSBCI Capital Program
Reporting Guidance). “Private financing” reflects the overall new financing amount less any SSBCI allocated or recycled funds that were included in the reported transaction amounts.
SSBCI Annual Report 2022-2023 3
support small businesses across the nation. SSBCI transactions supported companies across industries, from retail
and food service to high technology and artificial intelligence. In aggregate, jurisdictions reported that these loans
and investments are expected to create or retain over 46,000 jobs across the country.8
Figure 2: 2022-2023 Outcomes by Program Type
Loans/ Total New
Average New
Total Investments Financing Median Expected Expected
Program Financing per
Transactions Transaction Amount New Jobs Jobs
Type Transaction
(A) Amount (C) Financing Retained Created
(C/A)
($ millions) ($ millions)
Capital
749 $40 $40 $53,700 $30,000 1,791 529
Access Program
OCSP - Collateral Support
209 $475 $498 $2,383,300 $722,300 2,445 2,965
Program
OCSP - Loan Guarantee
1,032 $252 $285 $276,000 $65,000 8,118 4,081
Program
OCSP - Loan Participation
1,295 $794 $973 $751,600 $200,000 7,964 5,873
Program
OCSP – Equity/Venture
485 $984 $1,070 $2,208,000 $1,000,000 4,245 5,366
Capital Program (Direct)
OCSP – Equity/Venture
124 $137 $214 $1,724,600 $362,500 1,040 1,832
Capital Program (Funds)
Total 3,894 $2,682 $3,081 $791,300 $116,700 25,603 20,646
Figure 3: 2022-2023 Outcomes by Lending Versus Investing Programs
Loans/ Total New
Average New
Total Investments Financing Median Expected Expected
Program Financing per
Transactions Transaction Amount New Jobs Jobs
Type Transaction
(A) Amount (C) Financing Retained Created
(C/A)
($ millions) ($ millions)
Lending Programs 3285 $1,562 $1,796 $546,900 $87,700 20,318 13,448
Investing Programs 609 $1,120 $1,285 $2,109,500 $880,000 5,285 7,198
Total 3,894 $2,682 $3,081 $791,300 $116,700 25,603 20,646
Expanding access to capital for underserved businesses9 is core to the SSBCI’s design and jurisdictions’ program plans
for their allocations. In 2022-2023, jurisdictions provided loans and investments to small businesses in their markets
that have had diminished access to capital. In total, 75% of all SSBCI-supported transactions in this period were made
to underserved small businesses. Jurisdictions provided a total of $170 million to Black or African American owned/
controlled small businesses, averaging $301,500 per loan or investment. 10 Hispanic or Latino/a-owned/controlled
small businesses were provided a total of $139 million, averaging $261,800 per loan or investment. Jurisdictions
supported women entrepreneurs with $603 million. While the majority of transactions supported small businesses in
urban or suburban regions, approximately 9% ($197 million) supported companies located in rural areas.11
8 “Expected Jobs Created” is the number of full-time equivalent employees expected to be hired as a direct result of a SSBCI-supported loan or investment within two years of the
closing date. “Expected Jobs Retained” is the number of full-time equivalent employee job losses adverted as a direct result of the SSBCI-supported loan or investment (does not
include jobs that were not at risk of being lost). SSBCI Reporting Guidance February 21, 2024 (treasury.gov)
9 References to underserved businesses throughout this report refer to businesses that qualify under Section IV.a of the SSBCI Capital Program Policy Guidelines, including those
located in CDFI Investment Areas and those that certify to limited credit access on the basis of one or more listed factors. of the SSBCI Capital Program Policy Guidelines, including
those located in CDFI Investment Areas and those that certify to limited credit access on the basis of one or more listed factors.
10 Demographic figures in this report are generally self-reported and businesses may choose not to respond. In addition, when fractions or percentages are calculated, they reflect the
total number of transactions with businesses self-reporting in each category, divided by the total number of transactions, including transactions for which relevant demographic
information was not reported. The reported information is thus a conservative estimate of the transactions associated with each demographic category.
11 “Rural Owned Businesses” are classified as a business address not within an urban area by the 2020 Census definition: “To qualify as an urban area, the territory identified according
to criteria must encompass at least 2,000 housing units or have a population of at least 5,000.” Urban and Rural (census.gov).
4 SSBCI Annual Report 2022-2023
Treasury also allocated $400 million for technical assistance programs that enable businesses to apply for SSBCI-
supported financing or other federal or other jurisdiction small business programs. A total of $200 million was made
available by formula for jurisdiction programs that provide legal, financial advisory, and accounting services. As of
October 2024, Treasury approved technical assistance plans totaling $151million for 65 jurisdictions and continues to
review/approve applications. Throughout September and October 2024, Treasury also announced the selection of 14
applications to the Investing in America Small Business Opportunity Program, a competitive grant program awarded
$75 million to support jurisdictions’ proposals to expand access to technical assistance services in innovative and
high-impact program models, and with a focus on serving businesses in infrastructure, manufacturing, clean energy,
or climate resiliency. Treasury also transferred $125 million to the Minority Business Development Agency for its
Capital Readiness Program, which made 43 awards to technical assistance providers across the country.
Figure 4: SSBCI Objectives and Program Outcomes
Objective Program Outcomes
Support financing of small businesses • Overall new financing: $3.1 billion / 3,900 transactions
• Median business size: 3 full-time employees
• Average business size: 9 full-time employees
• Median loan/investment amount at closing: $113,000
• Average loan/investment amount at closing: $688,000
Expand access to underserved businesses • 75% (by transaction) to underserved businesses
• 78% to Very Small Businesses (VSB)
• 31% to women-owned businesses
• 40% to minority-owned businesses
Leverage new financing • $24.1 in new financing for each $1 in SSBCI funds expended
for Capital Access Programs
• $2.8 in new financing for each $1 in SSBCI funds expended
for Other Credit Programs
• $5.1 in new financing for each $1 in SSBCI funds expended
for Equity/Venture Capital Programs
Create or retain jobs • 46,200 jobs reported expected to be created or retained
(20,600 created, 25,600 retained)
SSBCI Annual Report 2022-2023 5
III. Improving Access to Loans for Small Businesses
Jurisdictions chose to allocate $5.8 billion to credit support
Fast Facts: SSBCI Credit Support Programs
programs which share a portion of the credit risk with lenders,
enabling loans that might not have closed absent SSBCI support. • $1.8 billion new lending supported
Each jurisdiction determined its own strategy to address credit • $475,500 average loan size
gaps, such as providing capital for microbusinesses or increasing • 3 median full-time employees
access to capital in rural areas. Jurisdictions also designed
• $470k median annual revenue
programs to create second- or third-order economic benefits
by supporting base industries including manufacturing, clean • 4 years in business median
energy, and information technology. • 63% of transactions were supported
by CDFIs
In 2022 and 2023, jurisdictions reported expending $536 million
in SSBCI funds to support $1.8 billion in new lending and credit
financing to over 3,000 businesses.12 The borrowers for these
loans were primarily very small companies, both by employee count and by annual revenue. Nearly 80% of the loans
were made to businesses with fewer than 10 full-time employees and over half (58%) of SSBCI-supported loans were
made to businesses with revenue between $0 and $500,000. Additionally, over half (64%) of all SSBCI-supported loans
were made to businesses less than five years old. Some jurisdictions view their CAP programs as a tool to provide
microloans; the average CAP loan size was $53,700 compared to all other credit programs which had an average loan
size of $600,000.
Businesses were most likely to seek financing to support their working capital needs, purchasing inventory, making
payroll, or other business operations expenses. Other uses include purchase of equipment to enhance production or
purchase of real estate for the business. The top three industries for credit support programs were accommodation
and food services, manufacturing, and health care and social assistance. Most borrowers were located in urban or
suburban areas (91%) and 49% of transactions were in CDFI Investment Areas.13
Figure 5. Characteristics of Small Businesses Figure 6. Primary Purpose of the Loan
Supported by Credit Programs
Bank loans, including from CDFI banks, accounted for approximately 70% of the total lending under SSBCI by dollar
amount. Community banks (institutions with under $10 billion in assets) accounted for 88% of all bank transactions
and 77% of the dollar amount lent by banks under SSBCI programs.14
12 Represents unique businesses supported by SSBCI loans or investments.
13 See CDFI Investment Area defined in 2 C.F.R. § 1805.201(b)(3)(ii).
14 Figures for banks were obtained by matching transactions associated with a reported RSSID (a unique identifier assigned to financial institutions by the Federal Reserve) to publicly
available asset data.
6 SSBCI Annual Report 2022-2023
Figure 7. Bank Participation by Asset Size of Bank
In total, CDFIs, including CDFI banks and credit unions, supported 63% of all credit transactions and of these
transactions, 82% supported underserved small businesses. Non-CDFI lenders supported 37% of all credit
transactions – nearly three-quarters (71%) of which supported underserved small businesses.
Figure 8. CDFI versus Non-CDFI Transactions
Total % of Total SSBCI Allocated Funds Overall New
Provider Type Underserved %
Transactions Transactions Expended ($ millions) Financing ($ millions)
CDFI 2066 63% $133M $401M 82%
Non-CDFI 1219 37% $403M $1,396M 71%
Jurisdictions offered one or more of the following program types.
Figure 9: Summary Data by Credit Program Type
Total New Average New
Total Loans/ Investments Expected Expected
Financing Financing per
Program Type Transactions Transaction Amount Jobs Jobs
Amount Transaction
(A) ($ millions) Retained Created
(C) ($ millions) (C/A)
Capital Access Programs (CAPs) provide a portfolio loan loss reserve for which the lender and borrower contribute a share of the loan
value (up to 7%) that is matched on a dollar-for-dollar basis with SSBCI funds. Losses may be recovered from the reserve until there is no
additional funding in the reserve.
Capital Access Program 749 $40 $40 $53,700 1,791 529
Collateral support programs (CSPs) provide cash to lenders when there is a collateral shortfall.
OCSP - Collateral Support Program 209 $475 $498 $2,383,300 2,445 2,965
Loan guarantee programs (LGPs) provide an assurance to lenders of partial repayment in the event a loan goes into default.
OCSP - Loan Guarantee Program 1,032 $252 $285 $276,000 8,118 4,081
Loan participation programs (LPPs) purchase a portion of a loan that a lender makes or make a direct loan from the jurisdiction in
conjunction with a private loan (companion loan).
OCSP - Loan Participation Program 1,295 $794 $973 $751,600 7,964 5,873
SSBCI Annual Report 2022-2023 7
SSBCI Success Story: Global Retool Group America, Michigan Economic Development
Corporation
Global Retool Group America is a manufacturer of automation equipment and assembly lines for use by a variety of
industries, located in Brighton, Michigan. The company retools, retrofits, and overhauls of machinery worldwide. Citizens
Bank provided the company its first working capital line of credit, a $7 million facility enabled by the Michigan
Strategic Fund’s collateral support program.
SSBCI Success Story: Woodland Market, Pennsylvania’s Department of Community
Economic Development
Woodland Market is a wholesale vendor and retail grocery store that sells African and Caribbean foods and ingredients
in Southwest Philadelphia. Woodland received a $50,000 loan, $25,000 of which was provided by the Women’s
Opportunities Resource Center – Economic Opportunities Fund, a CDFI participant in Pennsylvania’s SSBCI program.
The loan helped Woodland purchase inventory and hire a new employee.
8 SSBCI Annual Report 2022-2023
IV. Venture Capital Investments to Grow Innovative Start Ups
SSBCI jurisdictions allocated $3.1 billion to venture
Fast Facts: Venture Capital Investments
capital programs, including direct and funds
models. In 2022-2023, SSBCI-supported venture • 609 total small companies supported by SSBCI venture
capital programs expended $211 million. In capital programs
designing equity investment programs, jurisdictions • 60 venture capital funds have received an SSBCI capital
were able to select either direct investment commitment, of which 39 are owned/managed by
models or fund15 investment models, and many diverse or underserved fund managers or have an
jurisdictions are implementing both investment investment strategy that includes a focus on supporting
strategies with SSBCI capital support. In these early companies with underserved founders/leaders
days of SSBCI, direct programs are making more • $1.8 million average investment size
investments in companies, having expended $192 • $1.2 billion total private capital leveraged by VC
million in 485 investments to support companies, programs and $212 million total SSBCI invested
generating $1 billion in new financing. Funds
programs first execute commitments to venture
capital funds which then invest in companies. From
2022-2023, jurisdictions reported expenditures of
$19 million in 124 investments to small companies
through funds programs, generating $214 million in
new financing.
Many jurisdictions opted to focus on reaching
underserved startups with their venture capital
programs. In total, 62% of SSBCI-supported
equity/venture capital investments were made to
underserved businesses. In many cases, jurisdictions
also focused on supporting underserved and/
or emerging venture capital fund managers with
their SSBCI allocations to support broader reach
to underserved companies. As of September 2024, Figure 10. Stage of Equity/Venture Capital Investments
jurisdictions have committed to 60 funds, 39 of which
are either focused on reaching underserved companies and/or are led by emerging or underserved fund managers.16
Companies supported by SSBCI venture capital transactions are typically young, small, in early stages of
development, and have high growth potential. Most (70%) qualify as very small businesses, with an average of four
FTEs. Over 91% of deals supported companies in the pre-seed, seed, or early stages of venture investment. The top
industries supported by venture capital transactions include 1) professional, scientific, and technical services, 2)
manufacturing, and 3) information.
Finally, these programs allow jurisdictions to catalyze private investment in companies that may otherwise have
difficulty raising capital to support their startups. SSBCI requires jurisdictions to invest SSBCI funds to attract private
investment. Venture capital programs will generate significant private leverage over time as supported companies go
on to raise additional capital from angel investors, institutions, funds, and other investors.
15 In this report, approved hybrid direct and hybrid fund programs are included within direct and fund programs, respectively.
16 Jurisdictions notify Treasury of the commitment of SSBCI funds to a venture capital fund and provide information to help Treasury understand how the selection will affect the
operation of the approved program. See FAQ VIII.i #13. VIII.i #13.
SSBCI Annual Report 2022-2023 9
Figure 11: Venture Capital Program Deployment as of 12/31/2023: Direct and Funds Programs
Direct Venture Capital Programs Funds Venture Capital Programs
Total Jurisdictions 28 14
Total Programs 38 14
SSBCI Allocated Funds Expended $192.3M $19.4M
Expended for Underserved Businesses ($) $38.7M $3.4M
Expended for Underserved Businesses (%) 20% 17%
Expended for Very Small Businesses ($) $94.9M $11.8M
Expended for Very Small Businesses (%) 49% 61%
Private Capital Leveraged at Time of Investment $878.4M $194.5M
Figure 12: Venture Capital Programs by State
SSBCI Success Story: Frontline Wildfire Defense, Wyoming Business Council
Ask anyone in the western US – wildfires present a serious threat to homes and communities, particularly so in this region.
Frontline Wildfire Defense was born as a response to this threat. The company, which offers a wrap-around approach to fire
detection and defense, utilizes both hardware and software interventions to protect homes. Tracking software can monitor
the risk for fires, keep homeowners informed via a mobile application, and automate the deployment of external sprinkler
systems to release water and firefighting foam through hardware installed on-premises. In addition to serving residential
customers, the company has business lines dedicated to commercial and nonprofit customers to protect vineyards and
summer camps.
The Wyoming Business Council (WBC), charged with implementing a direct and funds venture capital program through
Wyoming Venture Capital (WYVC), invested in Frontline Wildfire Defense in 2023. This investment has significantly
contributed to the company’s financial growth, enabling it to raise more than $12M in total funding to date.
10 SSBCI Annual Report 2022-2023
SSBCI Success Story: Wasted, Vermont Economic Development Authority
Wasted PBC is headquartered near Burlington, Vermont. The company
was co-founded by a team of three that met through mountaineering
expeditions. Wasted’s portable toilets transform human byproducts into a
clean, natural fertilizer for farmers.
Vermont Economic Development Authority (VEDA) is deploying the state’s
nearly $58 million in allocation from SSBCI – including a combined $28
million in SSBCI venture capital programming through a direct investment
program and venture capital fund program.
VEDA committed $7.5 million to Fresh Tracks Capital, a venture capital fund focused on promoting high-growth and
innovation companies in Vermont. In early 2023, Fresh Tracks Capital closed Vermont’s first SSBCI-supported venture
capital transaction by investing in Wasted. The fund provided a $300,000 SAFE (Simple Agreement for Future Equity)
in the company – an investment that will convert to equity in a subsequent round of financing. The company plans to
use the capital to expand its systems into additional markets, a significant opportunity to grow while also pursuing its
sustainability and clean environment goals.
V. Investment in Tribal Economies and Entrepreneurs
The SSBCI funding of Tribal SSBCI represents the most
Fast Facts: SSBCI for Tribal Governments
expansive one-time investment in Tribal small business
programs. This represents new opportunity for hundreds • Treasury received Capital Program
of jurisdictions, many of which had no history of operating applications representing 276 Tribal
credit support or investment programs. In addition, Tribal governments
governments could form consortia to jointly apply for SSBCI. • 70 approved applications as of October
2024 totaling $524 million, representing
Tribal entrepreneurs have historically faced significant barriers
236 Tribes
in accessing capital. These entrepreneurs and their companies
• Treasury continues to review and
are 12 times more likely to reside in banking deserts than other
approve Capital and Technical Assistance
entrepreneurs: where on average 3.8% of individuals nationally
applications from Tribes
live in banking deserts, for American Indian and Alaska Native
populations, that figure is 46.4%. 17 With these businesses
contributing over $35 billion in economic activity and over
215,000 jobs to the economy, there is a clear need to improve
capital access for Native entrepreneurs and communities. 18
SSBCI programs will support Tribes in offering financing for
these entrepreneurs while catalyzing new private lending and
investment in these companies. Many Tribal governments plan to
partner with Native financial institutions, building capacity of Figure 13. Amount Allocated by Program Type
those organizations to provide capital in Indian Country.
Through Tribal consultation and significant Tribal engagement, Treasury’s SSBCI program and Office of Tribal and Native
Affairs implemented application extensions, policy customization, trainings, and direct one-on-one outreach to increase
access to this unique opportunity for Tribal Nations.
17 Banking-deserts-report-feb-2024.pdf (philadelphiafed.org)
18 Census Bureau Releases New Data on Minority-Owned, Veteran-Owned and Women-Owned Businesses
SSBCI Annual Report 2022-2023 11
Over 270 Tribal governments and consortia applied for the SSBCI Capital Program through over 100 applications.
Ninety-eight Tribal governments applied individually, while 178 Tribal governments participated in consortia ranging
in size from four to over 120 Tribal governments. As of October 2024, 70 Tribal government applications have been
approved, totaling $524 million and representing 236 Tribal Nations; approved programs have allocated $427 million
to lending programs and $97 million to equity/venture capital investment programs. For the purposes of the data
included in this report, five Tribal governments reported transactions in 2023.
Similar to the SSBCI capital programs developed by states and territories, there is a great diversity in the approaches
and intended outcomes of approved programs operated by Tribal governments. Some recipients have focused on
financing Tribal enterprises, businesses owned by the Tribal government itself. Approved programs have targeted
Tribal enterprises as a target recipient for both lending and equity capital investment. In other cases, Tribal
governments have opted to focus on the capital access needs of small businesses operated by enrolled Tribal
members or other small businesses that have a direct economic impact on their citizens.
The deadline for Tribal government applications to the SSBCI Capital Program was set at October 31, 2022. Treasury
had extended the deadline to apply based on consultations with Tribal governments, and in order to provide additional
technical assistance to Tribes applying for the program. Many Tribes applied to utilize SSBCI funding to create new programs
and did not have prior experience in designing loan or investment programs – additional time to create programs, form
partnerships with financial intermediaries and other stakeholders, and develop Tribal consortia was required.
Due to the later implementation timeline compared to states and territories, transaction activity by approved Tribal
governments was low in 2023. Five jurisdictions reported transactions totaling almost $4.7 million to support Tribal
entrepreneurs and Tribal enterprises.
SSBCI Success Story: Salmon River Outpost, Affiliated Tribes of Northwest Indians EDC-
led Consortium
The Affiliated Tribes of Northwest Indians Economic Development Corporation (ATNI-EDC) serves Tribes across Oregon,
Idaho, Washington, southeast Alaska, Northern California and Western Montana. Thirty-two Tribes in the northwest
designated ATNI-EDC to submit a joint application totaling over $29 million. The consortia’s first transaction supported
Salmon River Outpost, a grocery store from a wife-and-husband team representing the Karuk and Yurok Tribes
respectively, located near California’s Hoopa Valley Reservation in a food desert. The SSBCI transaction to support
acquisition of the land and building totaled $250,000 and was matched by a further $250,000 in private capital,
alongside other, non-SSBCI capital provided for working capital.
SSBCI Success Story: Ninilchik Village Tribe
Located in the southern part of the Kenai Peninsula in Alaska, the Ninilchik Village Tribe represents a community of over 1,000
indigenous peoples. Ninilchik also provides public services to members and works to grow the local economy for residents.
When Ninilchik Village applied to Treasury for the Tribe’s $689,038 SSBCI allocation, the Tribe chose to invest in Tuyan, a
Tribal enterprise and contracting company that provides geophysical engineering services. The Tribe’s allocation will be
committed to Tuyan and will be matched by private funds acquired through the Tribe and CEI’s other commercial activity.
Tuyan is expected to create at least eight new engineering and project management roles in the years to come. The
company will also use the funds to create a new business line which is expected to allow the company to offer services to
the general public, in addition to government contracting opportunities.
Ivan Encelewski, Executive Director of the Ninilchik Traditional Council, said about the investment, “We believe this
investment will be absolutely profound in its impact for our people. The beauty of Tuyan is that it represents a new
opportunity for an Alaskan Tribe, showcases the importance of partnerships, and provides for a direct return to support the
mission of our indigenous peoples. We are very proud of this investment and what it will do for generations to come.”
12 SSBCI Annual Report 2022-2023
VI. Demographic Characteristics of Businesses that Received
SSBCI-supported Financing
Minority- and women-owned, and other underserved
businesses, have historically experienced more difficulty Fast Facts: Reaching Underserved Small Businesses
securing loans and investments than their counterparts.19,20 • 75% of all SSBCI transactions supported
underserved small businesses
Of the nearly 3,900 SSBCI-supported loans or investments,
40% were made to companies reported as owned/ • 40% of transactions supported minority-
controlled by minority entrepreneurs, with 14% and 13%, owned companies
respectively, of all transactions made to Black and Asian- • 31% of transactions supported women-owned
owned/controlled small companies, and 14% for Hispanic companies
or Latino companies.21 Thirty-one percent of SSBCI loans in • 4% of transactions supported veteran-owned
this period supported women-owned/controlled companies, companies
and 4% went to veteran-run small businesses. A synopsis • 9% of transactions supported rural businesses
of demographic reach of the 15 jurisdictions with the most
SSBCI transactions follows in Figure 15.
CAP and Loan Guarantee Programs were most likely to reach
minority-owned businesses (58% and 59% of transactions,
respectively). Loan Guarantee Programs (LGPs) were most likely
to reach women-owned businesses (41% of LGP transactions).
Rural businesses, accounted for approximately 9% of all
SSBCI transactions and Loan Participation Programs (LPPs)
had the highest number of rural transactions at 15% of all LPP
transactions. The jurisdictions with the highest number of
Figure 14. Percentage of Transactions by Race and Ethnicity
rural transactions are listed in Figure 16.
Additional demographic characteristics are summarized in Figures 25-27 in the Appendix.
Figure 15: Top 15 Jurisdictions by Total Transactions, Broken Out by Support to Women-, Minority-, Veteran-
Owned Small Businesses, and Small Businesses in Rural Areas
Jurisdiction # of Transactions Women Owned % Minority Owned % Veteran Owned % Rural Business %
California 1139 32% 68% 3% 0%
New York 446 32% 27% 2% 2%
Michigan 364 34% 27% 4% 18%
Pennsylvania 336 30% 37% 4% 4%
North Carolina 178 15% 24% 8% 24%
Kansas 136 49% 24% 7% 38%
Vermont 95 17% 12% 5% 31%
Maine 89 31% 6% 0% 25%
Ohio 77 45% 49% 9% 3%
Florida 72 35% 43% 6% 0%
South Carolina 67 48% 24% 9% 1%
Montana 62 31% 3% 3% 31%
Arkansas 52 54% 60% 10% 4%
Illinois 48 50% 35% 8% 19%
Minnesota 47 23% 23% 2% 15%
19 “2023 Report on Startup Firms Owned by People of Color: Findings from the 2022 Small Business Credit Survey.” 2023. Small Business Credit Survey. Federal Reserve Banks. https://
doi.org/10.55350/sbcs-20230616
20 “2023 Report on Employer Firms: Findings from the 2022 Small Business Credit Survey.” 2023. Small Business Credit Survey. Federal Reserve Banks. https://doi.org/10.55350/sbcs-20230308
21 See footnote 9. Response rates for “Race of Principal Owners” was 76% and “Ethnicity of Principal Owners” was 74%.
SSBCI Annual Report 2022-2023 13
Figure 16: Top 15 Jurisdictions by Percent of Transactions to Support Rural Small Businesses
Jurisdiction # of Transactions Rural Business %
Alaska 26 50%
Tennessee 5 40%
Kansas 136 38%
Colorado 24 38%
Wyoming 6 33%
Montana 62 31%
Vermont 95 31%
New Mexico 24 29%
Maine 89 25%
North Carolina 178 24%
Nebraska 17 24%
Illinois 48 19%
Michigan 364 18%
Guam 6 17%
Minnesota 47 15%
SSBCI Requirements and Incentives Related to Demographics
$1.5 billion of allocated SSBCI funds must be used by jurisdictions for the benefit of underserved businesses.
Jurisdictions may qualify for an additional incentive allocation if they achieve a certain percentage of funding
expended to benefit underserved businesses. In 2022/2023, SSBCI jurisdictions expended a total of $559 million to
support 2,923 loans or investments to underserved small businesses – representing 75% of all SSBCI-supported
transactions.
Of these transactions, approximately 73% qualified based on capital access certification, 66% qualified based on
geography. 22 Additional data is summarized in Figure 30 in the Appendix.
SSBCI Success Story: Cap Creations, NetWork Kansas, Kansas
Cap Creations wants to revolutionize graduation day with their “Grad Cap Remix”, a 3-piece
headband system insert for graduation caps that accommodates a variety of hair types
and textures. The product was designed by mother-daughter co-founders RaShawnda and
Myayla Wright – inspired by Myayla’s struggle to make her own graduation cap work for her
hair at her high school graduation Cap Creations’ success is made possible by support from
Grow Kansas (GROWKS), a program of NetWork Kansas, dedicated to supporting high-
growth entrepreneurs in Kansas and fueled by SSBCI and a partnership with the Kansas
Department of Commerce. GROWKS is using SSBCI funding to invest in Kansas-based, early-stage companies through
their Angel Capital Support Program. GROWKS supported Cap Creations with an angel investment in 2022, allowing
the company to enhance its production for the 2023 school year. RaShawnda said, “GROWKS came along at a pivotal
point for us. The process was pretty easy – they helped us with making sure we had the right business structure, went over
our financials and projections, so we’d be ready for our presentation to the board. They’ve been completely available for
anything that comes up.”
22 Qualified based on geography means i: whether the borrower or investee certified that it is owned and controlled by individuals whose residences are in CDFI Investment Areas, ii:
whether the borrower or investee certified that it will operate a future location in a CDFI Investment Area, and iii: whether the borrower or investee is located in a CDFI Investment
Area, as evidenced by the business address. There is some overlap between businesses that qualified based on capital access certification and qualified based on geography (i.e., are
included in both percentages).
14 SSBCI Annual Report 2022-2023
SSBCI Success Story: Spencer Manufacturing, Michigan Economic Development
Corporation, Michigan
Spencer Manufacturing, a veteran- and family-owned business in South Haven, MI produces custom fire trucks, including
tankers, pumpers, and rescue vehicles. The company began as a repair shop and, today, serves clients nationwide,
including supplying large city fleets with vehicles and services.
To expand its facility and operations, Spencer Manufacturing needed financing. The company secured a construction
note for $4.46 million from Union Bank of Michigan – a Michigan-based community bank – supported by $2.13 million
from the Michigan Economic Development Corporation (MEDC)’s SSBCI-supported loan participation program.
With these funds, the company added over 38,500 square feet to its manufacturing facility and will be able to expand to
serve more customers.
VII. Top Industries
Early program data indicate that jurisdictions are reaching a diverse range of small businesses including startups
in health, software and hardware, and service-based companies, as well as manufacturers, retail businesses,
professional services, and many other sectors, both in innovation hubs and on Main Streets.
SSBCI jurisdictions each designed their program mix to respond to credit and capital needs in their markets. Many
jurisdictions are industry-agnostic in terms of program focus, while others emphasized key sectors in their economies,
like manufacturing to reinforce local supply chains, technology-oriented startups to build the innovative ecosystem,
or programs that support clean energy projects, like installing solar or electric vehicle chargers.
Figure 17. Top Industries by Transaction Amount
Transaction Loan or Investment Average Loan or Invest-
NAICS NAICS Definition
Count Amount ment Amount
Transportation and Warehousing
4841 General Freight Trucking 258 $17,782,321 $68,924
4842 Specialized Freight Trucking 119 $4,625,367 $38,869
4853 Taxi and Limousine Service 79 $14,480,338 $183,295
4859 Other Transit and Ground Passenger Transportation 16 $2,170,390 $135,649
4922 Local Messengers and Local Delivery 10 $840,000 $84,000
Other Other Transportation and Warehousing Subsectors 41 $10,017,518 $244,330
Total 523 $49,915,933 $95,442
Professional, Scientific, and Technical Services
5415 Computer Systems Design and Related Services 126 $137,189,410 $1,088,805
5417 Scientific Research and Development Services 103 $275,316,603 $2,672,977
5419 Other Professional, Scientific, and Technical Services 56 $50,175,494 $895,991
Management, Scientific, and Technical Consulting
5416 54 $23,897,610 $442,548
Services
Accounting, Tax Preparation, Bookkeeping, and
5412 46 $21,162,703 $460,059
Payroll Services
Other Professional, Scientific, and Technical Services
Other 74 $32,354,806 $437,227
Subsectors
Total 459 $540,096,628 $1,176,681
SSBCI Annual Report 2022-2023 15
Transaction Loan or Investment Average Loan or Invest-
NAICS NAICS Definition
Count Amount ment Amount
Accommodation and Food Services
7225 Restaurants and Other Eating Places 302 $137,111,643 $454,012
7223 Special Food Services 69 $5,893,008 $85,406
7211 Traveler Accommodation 46 $157,606,079 $3,426,219
7224 Drinking Places (Alcoholic Beverages) 17 $2,316,192 $136,247
7212 RV (Recreational Vehicle) Parks and Recreational Camps 6 $3,319,187 $553,198
Other Other Accommodation and Food Services 1 $7,600,000 $7,600,000
Total 441 $313,846,108 $711,669
Manufacturing
3121 Beverage Manufacturing 41 $34,003,559 $829,355
3391 Medical Equipment and Supplies Manufacturing 31 $79,673,290 $2,570,106
3119 Other Food Manufacturing 29 $26,995,262 $930,871
3118 Bakeries and Tortilla Manufacturing 25 $5,480,696 $219,228
3399 Other Miscellaneous Manufacturing 25 $10,461,800 $418,472
Other Other Manufacturing 243 $318,038,589 $1,308,801
Total 394 $474,653,197 $1,204,704
Retail Trade
4599 Other Miscellaneous Retailers 55 $11,394,940 $207,181
4451 Grocery and Convenience Retailers 49 $30,382,560 $620,052
4581 Clothing and Clothing Accessories Retailers 37 $1,343,757 $36,318
Warehouse Clubs, Supercenters, and Other General
4552 31 $2,385,550 $76,953
Merchandise Retailers
4561 Health and Personal Care Retailers 28 $16,765,334 $598,762
Other Other Retail Trade 142 $61,023,892 $429,746
Total 342 $123,296,033 $360,515
In 2022/2023, companies that received SSBCI support were in the following top sectors (by dollar amount): 1)
professional, scientific, and technical services; 2) manufacturing, and 3) accommodation and food services. By
transaction count, the top sector to receive SSBCI support was transportation and warehousing.
In these top sectors, key segments include high Figure 18. Industries by NAICS Sector
technology startups, restaurants, trucking
companies, and food/beverage manufacturers. Of
all SSBCI-supported transactions, 7.7% supported
restaurants, with average transactions of about
$455,000, and 9.7% supported trucking companies,
averaging under $60,000 in transaction size. 23
In aggregate, the average loan or investment
transaction amount was $688,000 and the median
was $113,000.
As noted above, SSBCI typically supports newer
and smaller businesses across both high-growth
potential and companies that provide goods or
services on more traditional growth models. Among
the 609 companies that were supported by SSBCI
equity/venture capital investments, 91% were early
23 The volume of transactions in the transportation and warehousing sector is driven by activity in a large jurisdiction and may decrease as overall SSBCI transaction volume increases
across the country.
16 SSBCI Annual Report 2022-2023
stage, seed, or pre-seed stage companies. Small businesses across the portfolio of all SSBCI-supported transactions
tend to be early-stage as well, with 58% being five years old or newer. These companies are also typically small in terms
of employee count – only three percent of all SSBCI supported companies exceed 50 in full-time employees (FTEs),
with 62% reporting under five FTEs. Finally, 37% of transactions supported companies with annual revenues between
$100,000 and $500,000 – and 20% supported companies with under $100,000 in revenue.
SSBCI Success Story: Biosimilar Solutions, Economic Development Bank for Puerto Rico,
Puerto Rico
Biosimilar Solutions, a manufacturer of drug compounds based in Puerto Rico, needed significant investment to acquire
new equipment and scale its operations. The company was founded in 2020 with a vision to develop four bioequivalent
products of existing medicines, all used in the manufacture of cancer treatments. Biosimilar Solutions will manufacture the
first of these biosimilars in Puerto Rico.
The Economic Development Bank of Puerto Rico (EDB) partners with lenders like credit unions, CDFIs, and commercial
banks to improve access to capital for small companies through SSBCI. A credit union and CDFI, Jesús Obrero Savings
and Credit Union, provided a loan of $1.5 million to Biosimilar Solutions to support an equipment purchase. This loan
was paired with a further $2.4 million (including $1.9 million of SSBCI funds) made available by the EDB.
SSBCI Success Story: Road Freight Logistics, Department of Community Economic
Development, Pennsylvania
Logistics are a critical part of the supply chain, helping all products get from their point of origin to their final destination.
Felix Charuma, owner of Road Freight Logistics, a Philadephia-based transportation company, works with Amazon’s
e-commerce operations to provide delivery and logistics services.
Pennsylvania’s SSBCI-supported loan participation program provides capital to CDFIs and certified economic development
organizations (CEDOs), which these partners lend in collaboration with banks or with their own balance sheet dollars. Through
SSBCI support through the Women’s Opportunities Resource Center- Economic Opportunities Fund in Philadelphia, along
with private capital, Road Freight Logistics qualified for a loan of $35,0000. As a result, Road Freight Logistics will be able to
purchase the truck and hire an additional driver to increase revenue and expand the company’s operations.
SSBCI Success Story: Chopper, Governor’s Office of Economic Opportunity, Utah 24
Chopper Landscaping is a South Jordan, Utah-based landscaping company.
In 2024, Chopper aimed to move from a seasonal business to year-round
operations. But the company did not have enough of a credit history, and that
made it difficult to qualify for the commercial loan necessary for the transition.
Utah’s SSBCI-supported Capital Access Program (CAP), tun out of the Governor’s
Office for Economic Opportunity, supported a $55,000 loan from the CDFI,
Suazo Business Center to Chopper to purchase snowplow equipment. This loan
loss reserve, totaling 14% of the loan value, enabled the transaction and will
help the borrower improve its credit history for future borrowing. Today,
Chopper is positioned for further growth and will hire five employees to manage the commercial snow removal
business line. This transaction is an example of how mission-driven lenders and SSBCI program managers can work
together to support small businesses that provide critical services and create jobs in communities across the nation.
24 The transaction was completed in 2024 and so is not reflected in Utah’s transaction date
SSBCI Annual Report 2022-2023 17
SSBCI Success Story: Razer Precision Instruments, NetWork Kansas, Kansas
Junction City, Kansas-based manufacturer Razer Precision Instruments (RPI) manufactures
small pressure gauges. RPI President Kenny Burris says, “Faulty gauges created the idea for
a business to build a better gauge for industry.” Burris had the expertise within the industry
to launch the business, but needed technical assistance and access to the right capital to
grow a profitable company. Burris worked with the commercialization team at Kansas State’s
Technology Development Institute to structure the business plan and plan to go to market.
That’s how Burris heard about the SSBCI-supported GROWKS Loan Program. GROWKS, a
program of NetWork Kansas, provides companion loans alongside private lenders to open
up access to capital for companies that may otherwise struggle to “tick” conventional credit
boxes. For Burris, GROWKS provided $100,000 in subordinated debt alongside a loan from Commercial Bank to support
manufacturing of the gauges.
VIII. Support for Capital Access Through Technical Assistance
Technical assistance (TA) like legal, accounting, and financial Fast Facts: SSBCI Technical Assistance
advisory services can help small companies prepare to apply
and qualify for business loans or investment. These services • Over 100,000 small businesses anticipated to
also help companies maximize the impact of new capital in be served by Recipients through the SSBCI
their businesses, often translating into increased revenue or Technical Assistance Program
new efficiencies. • 43 awardees under the Capital Readiness
Program supported by a $125 million transfer
SSBCI administers or funds three technical assistance from Treasury to the Minority Business
programs to support small businesses. The SSBCI Formula Development Agency
TA Program allocated $200 million to support jurisdictions • $150 million in formula TA already awarded to
participating in the SSBCI Capital Program in standing up 63 states, territories, District of Columbia, and
TA programs that provide legal, accounting, and financial Tribal governments
advisory services to underserved or very small companies • $75M awarded through the Small Business
(<10 employees) that are preparing to apply for or have Opportunity Program, ranging from $1.6
applied for public small business financing programs. As of million to $10 million in awards
October 2024, 65 jurisdictions’ plans have been approved by
Treasury representing $151 million for jurisdictions to support
TA programming. Through these applications, jurisdictions
expect to reach as many as 100,000 small businesses with
access to technical assistance to prepare them to apply for
financing.
Treasury has also recently announced awardees for the
Investing in America: Small Business Opportunity Grant
Program (SBOP), a competitive TA program that provides
$75 million in funding to provide innovative and high-
impact models of TA to reach underserved and very small
companies. Using SBOP funds, 12 states and two Tribal Figure 19. TA Allocation by Program
governments will build or expand upon technical assistance
programs focused on connecting small and underserved businesses to financing available through SSBCI or other
federal or other jurisdiction small business programs. The awards range from $1.6 million to $10 million and will
engage over 30 regional partners to deploy these programs. SBOP programs will serve businesses in a wide range of
industries, including agriculture, construction, cybersecurity, health care, mining, technology, transportation, and
manufacturing, including biomanufacturing, EV manufacturing, and semiconductor manufacturing.
18 SSBCI Annual Report 2022-2023
Figure 20. Map of SBOP Awardees Treasury also transferred
$125 million to the Minority
Business Development
Agency to support the
Capital Readiness Program
– a technical assistance
program with a start-up
focus. This program made
43 awards to entities
across the nation.
SSBCI TA Program Feature: Alabama’s Program in Partnership with the Alabama Small
Business Development Center (SBDC)
Alabama chose to subcontract the Alabama SBDC to implement the SSBCI TA Program. Through this partnership,
the SBDC will accept applications from underserved and very small businesses and connect them to critical TA services,
including financial advisory, legal, and accounting support within the SBDC’s network of providers and regional offices.
SSBCI TA Program Feature: Levelock Village
Levelock Village was the first Tribal government to receive an SSBCI Technical Assistance grant. Approved for $65,327
in TA grant funding, Levelock Village will use contractors to provide legal and financial advisory services to underserved
and very small businesses participating in the Tribe’s SSBCI-supported direct investment program (previously approved
for up to $627,054) or seeking other small business support. TA programs like that of Levelock Village – a remote Alaska
community accessible only by air or water travel with an economy that relies on local fishing and hunting – will support
access to capital and small business support services in Indian Country, which are often banking and TA deserts.
SBOP Awardee Feature: Michigan
The Michigan Strategic Fund and the Michigan Economic Development Corporation will implement the Michigan Auto
Supplier Transition Program which will serve businesses in their transition from the internal combustion engine auto supply
chain to electric vehicle production or an adjacent industry. Partners include the Michigan Minority Supplier Development
Council, the University of Michigan Economic Growth Institute, Automaton Alley, the Michigan Manufacturing Technology
Center, and the Michigan Manufacturers Association. This initiative is supported by $500 million in matching funds.
SSBCI Annual Report 2022-2023 19
IX. Appendix
Figure 21: Amount of Overall New Financing Supported by SSBCI by Jurisdiction ($ millions)25
Florida $427.02
California $232.87
North Carolina $232.61
Pennsylvania $225.38
Maryland $140.26
Maine $126.69
Arizona $114.54
Montana $105.37
Vermont $103.75
New Hampshire $97.56
Indiana $97.47
Massachusetts $95.32
Michigan $93.76
Connecticut $89.69
New York $82.27
South Carolina $81.17
Kansas $78.35
Iowa $73.73
Oklahoma $59.02
Minnesota $53.54
Idaho $49.37
Wyoming $43.23
Virginia $39.19
Kentucky $34.14
Illinois $32.69
Colorado $32.03
North Dakota $30.86
West Virginia $25.69
Georgia $24.81
Hawaii $21.66
Nebraska $17.44
New Mexico $16.69
Nevada $15.15
Alaska $14.33
Ohio $13.82
Puerto Rico $9.53
Missouri $8.47
Arkansas $8.12
Oregon $5.69
Louisiana $5.03
South Dakota $4.56
Tennessee $3.72
Rhode Island $3.56
New Jersey $3.25
Guam $1.65
Virgin Islands $0.91
Delaware $0.55
$- $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00
25 Figure 21 excludes Tribal Governments.
20 SSBCI Annual Report 2022-2023
Figure 22: Summary Table of Approved Tribal Government Participating Jurisdictions and Total Allocations (as
of October 29, 2024)
Jurisdiction Total Allocation
1 The Chickasaw Nation $16,061,540
2 Yurok Tribe of the Yurok Reservation, California $1,406,081
3 Paskenta Band of Nomlaki Indians of California $631,387
4 Ninilchik Village $689,038
5 Menominee Indian Tribe of Wisconsin $1,991,393
6 Washoe Tribe of Nevada & California $724,528
7 The Osage Nation $5,092,326
8 Redding Rancheria, California $639,552
9 Citizen Potawatomi Nation, Oklahoma $8,066,643
10 Confederated Tribes of the Umatilla Indian Reservation $869,823
11 Levelock Village $627,054
12 Rosebud Sioux Tribe of the Rosebud Indian Reservation, South Dakota $7,853,178
13 Eastern Band of Cherokee Indians $3,558,074
14 Inupiat Community of the Arctic Slope $2,993,865
15 32 Tribal governments applying jointly through the Affiliated Tribes of Northwest Indians Economic Development Corporation (ATNI-EDC): $29,303,262
Bear River Band of the Rohnerville Rancheria, California
Big Lagoon Rancheria, California
Blue Lake Rancheria, California
Burns Paiute Tribe
Cher-Ae Heights Indian Community of the Trinidad Rancheria, California
Confederated Tribes and Bands of the Yakama Nation
Confederated Tribes of the Chehalis Reservation
Confederated Tribes of the Colville Reservation
Confederated Tribes of the Grand Ronde Community of Oregon
Hoopa Valley Tribe, California
Jamestown S’Klallam Tribe
Karuk Tribe
Los Coyotes Band of Cahuilla and Cupeno Indians, California
Makah Indian Tribe of the Makah Indian Reservation
Muckleshoot Indian Tribe
Nez Perce Tribe
Nooksack Indian Tribe
Quechan Tribe of the Fort Yuma Indian Reservation, California & Arizona
Resighini Rancheria, California
Scotts Valley Band of Pomo Indians of California
Skokomish Indian Tribe
Spokane Tribe of the Spokane Reservation
Suquamish Indian Tribe of the Port Madison Reservation
Tolowa Dee-ni’ Nation
Wiyot Tribe, California
Big Valley Band of Pomo Indians of the Big Valley Rancheria, California
Iipay Nation of Santa Ysabel, California
Morongo Band of Mission Indians, California
Pueblo of Taos, New Mexico
Pyramid Lake Paiute Tribe of the Pyramid Lake Reservation, Nevada
Tule River Indian Tribe of the Tule River Reservation, California
Zuni Tribe of the Zuni Reservation, New Mexico
16 Cachil DeHe Band of Wintun Indians of the Colusa Indian Community of the Colusa Rancheria, California $615,724
17 San Pasqual Band of Diegueno Mission Indians of California $620,889
18 7 Tribal governments applying jointly through the Native American Development Corporation (NADC): $6,454,026
Cahto Tribe of the Laytonville Rancheria
Chippewa Cree Indians of the Rocky Boy’s Reservation, Montana
Kashia Band of Pomo Indians of the Stewarts Point Rancheria, California
Little Shell Tribe of Chippewa Indians of Montana
Lower Brule Sioux Tribe of the Lower Brule Reservation, South Dakota
Nansemond Indian Nation
Delaware Nation, Oklahoma
19 Miccosukee Tribe of Indians $656,963
20 Minnesota Chippewa – White Earth Band $3,883,494
SSBCI Annual Report 2022-2023 21
Jurisdiction Total Allocation
21 Akiak Native Community $647,715
22 Caddo Nation of Oklahoma $1,492,267
23 Lac Courte Oreilles Band of Lake Superior Chippewa Indians of Wisconsin $1,819,907
24 Cahuilla Band of Indians $646,299
25 Turtle Mountain Band of Chippewa Indians of North Dakota $7,245,207
26 Comanche Nation, Oklahoma $3,882,828
27 Omaha Tribe of Nebraska $1,535,581
28 Minnesota Chippewa - Bois Forte Band $904,480
29 Minnesota Chippewa - Fond Du Lac Band $956,633
30 Minnesota Chippewa - Grand Portage Band $695,786
31 The Seminole Nation of Oklahoma $4,139,833
32 Cheyenne River Sioux Tribe of the Cheyenne River Reservation, South Dakota $4,937,944
33 The Choctaw Nation of Oklahoma $44,981,736
34 Cheyenne and Arapaho Tribes, Oklahoma $2,869,249
35 Navajo Nation, Arizona, New Mexico, & Utah $88,739,540
36 Seneca-Cayuga Nation $1,196,612
37 Wampanoag Tribe of Gay Head (Aquinnah) $721,863
38 Oglala Sioux Tribe $10,150,666
39 Coushatta Tribe of Louisiana $687,039
40 Summit Lake Paiute Tribe of Nevada $621,389
41 Saint Paul Island $740,107
42 Spirit Lake Tribe, North Dakota $1,677,967
43 6 Tribal Governments applying jointly through the Navajo Community Development Financial Institution Incorporation (Navajo CDFI): $5,307,619
Apache Tribe of Oklahoma
Confederated Salish and Kootenai Tribes of the Flathead Reservation
Klawock Cooperative Association
Mesa Grande Band of Diegueno Mission Indians of the Mesa Grande Reservation, California
Pauma Band of Luiseno Mission Indians of the Pauma & Yuima Reservation, California
Shinnecock Indian Nation
44 Ketchikan Indian Community $1,426,515
45 The Muscogee (Creek) Nation $20,168,057
46 Winnemucca Indian Colony of Nevada $609,643
47 Oneida Nation $3,839,291
48 Saint Regis Mohawk Tribe $3,595,613
49 Red Lake Band of Chippewa Indians, Minnesota $3,347,495
50 Otoe-Missouria Tribe of Indians, Oklahoma $879,653
51 Gila River Indian Community of the Gila River Indian Reservation, Arizona $5,052,342
52 Manzanita Band of Diegueno Mission Indians of the Manzanita Reservation, California $619,889
53 Standing Rock Sioux Tribe of North & South Dakota $3,576,734
54 Lower Sioux Indian Community in the State of Minnesota $705,201
55 Pawnee Nation of Oklahoma $909,145
56 Bad River Band of the Lake Superior Tribe of Chippewa Indians of the Bad River Reservation, Wisconsin $1,923,643
57 Lummi Tribe of the Lummi Reservation $1,175,953
58 Sault Ste. Marie Tribe of Chippewa Indians, Michigan $10,017,610
59 Duckwater Shoshone Tribe of the Duckwater Reservation, Nevada $642,217
60 Santa Ynez Band of Chumash Mission Indians of the Santa Ynez Reservation, California $616,641
61 Santee Sioux Nation, Nebraska $849,328
62 125 Tribal governments applying jointly through the University of Alaska Small Business Development Center (Alaska SBDC): $83,142,887
22 SSBCI Annual Report 2022-2023
Jurisdiction Total Allocation
Agdaagux Tribe of King Cove Native Village of Noatak
Akiachak Native Community Native Village of Nuiqsut (aka Nooiksut)
Alatna Village Native Village of Nunapitchuk
Alutiiq Tribe of Old Harbor Native Village of Ouzinkie
Asa’Carsarmiut Native Village of Perryville
Cheesh-Na Tribe Native Village of Pilot Point
Chickaloon Native Village Native Village of Port Heiden
Chignik Bay Tribal Council Native Village of Port Lions
Chignik Lake Village Yes Native Village of Saint Michael
Chilkat Indian Village (Klukwan) Native Village of Savoonga
Chinik Eskimo Community (Golovin) Native Village of Scammon Bay
Circle Native Community Native Village of Selawik
Curyung Tribal Council Yes Native Village of Shaktoolik
Douglas Indian Association Native Village of Shishmaref
Egegik Village Native Village of Tanana
Eklutna Native Village Native Village of Teller
Emmonak Village Native Village of Unalakleet
Galena Village (aka Louden Village) Native Village of Unga
Hoonah Indian Association Native Village of Wales
Hydaburg Cooperative Association Native Village of White Mountain
Iqugmiut Traditional Council New Koliganek Village Council
Ivanof Bay Tribe New Stuyahok Village
King Island Native Community Newhalen Village
King Salmon Tribe Newtok Village
Knik Tribe Nome Eskimo Community
Kokhanok Village Nondalton Village
Manokotak Village Noorvik Native Community
Metlakatla Indian Community, Annette Island Reserve Northway Village
Naknek Native Village Organized Village of Kake
Native Village of Afognak Organized Village of Saxman
Native Village of Akhiok Orutsararmiut Traditional Native Council
Native Village of Aleknagik Pauloff Harbor Village
Native Village of Ambler Pedro Bay Village
Native Village of Barrow Inupiat Traditional Government Petersburg Indian Association
Native Village of Belkofski Pilot Station Traditional Village
Native Village of Brevig Mission Platinum Traditional Village
Native Village of Chignik Lagoon Yes Portage Creek Village (aka Ohgsenakale)
Native Village of Council Saint George Island
Native Village of Deering Qawalangin Tribe of Unalaska
Native Village of Diomede (aka Inalik) Salamatof Tribe
Native Village of Eagle Shageluk Native Village
Native Village of Ekuk Sitka Tribe of Alaska
Native Village of Ekwok Skagway Village
Native Village of Elim South Naknek Village
Native Village of Eyak (Cordova) Stebbins Community Association
Native Village of False Pass Sun’aq Tribe of Kodiak
Native Village of Gakona Tangirnaq Native Village
Native Village of Gambell Traditional Village of Togiak
Native Village of Georgetown Twin Hills Village
Native Village of Kanatak Ugashik Village
Native Village of Karluk Village of Atmautluak
Native Village of Kiana Village of Bill Moore’s Slough
Native Village of Kobuk Village of Iliamna
Native Village of Kongiganak Village of Kotlik
Native Village of Koyuk Village of Lower Kalskag
Native Village of Kwigillingok Village of Ohogamiut
Native Village of Mary’s Igloo Village of Sleetmute
Native Village of Minto Village of Solomon
Native Village of Napaimute Village of Wainwright
Native Village of Napakiak Wrangell Cooperative Association
Native Village of Nelson Lagoon Yakutat Tlingit Tribe
Native Village of Nightmute Yupiit of Andreafski
Native Village of Nikolski
63 Shivwits Band of Paiutes $684,373
64 Lac Vieux Desert Band of Lake Superior Chippewa Indians of Michigan $672,876
65 Coquille Indian Tribe $701,618
66 Cherokee Nation $86,853,214
67 Sisseton-Wahpeton Oyate of the Lake Traverse Reservation, South Dakota $3,176,232
68 Tohono O’Odham Nation of Arizona $7,856,731
69 Tunica-Biloxi Indian Tribe $732,944
70 Grand Traverse Band of Ottawa $956,050
Total $524,069,002
SSBCI Annual Report 2022-2023 23
Figure 23: Top 25 Bank Lenders by Reported Number of Transactions
Transaction Loan Jurisdiction Underserved % Underserved %
Provider
Count Amount Supported (based on #) (based on $)
Murphy Bank 125 $3,578,000 CA 16% 22%
First Citizens Bank 73 $85,411,002 NC 73% 72%
F&M Bank 17 $11,242,500 CA 59% 84%
Endeavor Bank 16 $8,471,092 CA 63% 51%
First Federal 15 $19,498,557 ID 40% 30%
Savings Bank
First National 15 $10,504,695 AK 87% 91%
Bank Alaska
North State Bank 14 $24,039,305 NC 79% 94%
First Bank 12 $16,116,965 NC 79% 48%
First Interstate 11 $19,194,226 ID, MT 100% 100%
Bank
American 10 $6,294,000 CA 90% 93%
Business Bank
First Montana 10 $4,658,377 MT 60% 64%
Bank
Enterprise Bank 9 $13,135,869 MA, NH 75% 51%
First National 9 $4,977,037 GA 67% 97%
Community Bank
Central Pacific 8 $13,201,000 HI 38% 35%
Bank
Opportunity Bank 8 $12,452,108 MT 88% 98%
of Montana
Community 7 $20,076,755 VT 86% 45%
National Bank
KS Bank 7 $1,828,873 NC 100% 100%
Western Security 7 $5,404,906 MT 43% 23%
Bank
Banc of California 6 $4,300,000 CA 100% 100%
Beach Cities 6 $5,700,000 CA 100% 100%
Commercial Bank
Celtic Bank 6 $26,592,000 CA, FL 100% 100%
Main Bank 6 $3,315,820 NM 83% 73%
Northrim Bank 6 $851,335 AK 100% 100%
Bank of Hays 5 $3,532,500 KS 100% 100%
Buena Vista
5 $6,587,750 IL 100% 100%
National Bank
24 SSBCI Annual Report 2022-2023
Figure 24: Top 25 CDFI Lenders by Reported Number of Transactions
Transaction Loan Jurisdictions Underserved % Underserved %
Provider
Count Amount Supported (based on #) (based on $)
Accessity 292 $10,405,399 CA 94% 93%
Accion Opportunity Fund
178 $8,340,675 CA, NY 48% 54%
Community Development
Accompany Capital 148 $2,933,500 NY 97% 94%
Working Solutions 106 $5,242,200 CA 86% 82%
Ascendus, Inc. 100 $6,793,030 NY 91% 90%
NYBDC Local Development
Corporation d/b/a Pursuit 85 $7,751,000 NY, PA 58% 58%
Community Finance
Economic and Community
65 $2,726,996 OH 100% 100%
Development Institute, Inc.
Northern Initiatives 65 $5,976,888 MI 60% 64%
Main Street Launch 45 $3,170,000 CA 98% 98%
Forge, Inc. 43 $1,091,257 AR 100% 100%
Pacific Community Ventures 36 $3,412,000 CA 97% 98%
Community First Fund 35 $11,171,095 PA 100% 100%
Renaissance Economic
31 $2,000,000 NY 97% 96%
Development Corporation
Bridgway Capital 28 $7,792,192 PA 89% 89%
TruFund Financial Services,
28 $5,434,250 NY 89% 90%
Inc.
Acelera Financial 27 $2,205,006 CA 93% 94%
BOC Capital Corp 27 $4,172,760 NY 96% 98%
Neighborhood Community
25 $2,525,000 PA 96% 99%
Development Fund
Opening Doors Inc 18 $115,600 CA 44% 52%
Prestamos CDFI 16 $3,010,752 AZ, CA 100% 100%
Detroit Development Fund 15 $2,080,000 MI 87% 80%
Access Plus Capital 14 $1,794,159 CA 86% 86%
PACE Finance Corporation 14 $2,472,166 CA 71% 83%
Fresno Area Hispanic
11 $335,000 CA 100% 100%
Foundation
The Progress Fund 11 $4,508,762 PA 64% 87%
SSBCI Annual Report 2022-2023 25
Figure 25: Transactions to Underserved Small Businesses26
Jurisdiction Total Transactions Women Owned % Minority Owned % Veteran Owned % Rural Business %
California 1139 32% 68% 3% 0%
New York 446 32% 27% 2% 2%
Michigan 364 34% 27% 4% 18%
Pennsylvania 336 30% 37% 4% 4%
North Carolina 178 15% 24% 8% 24%
Kansas 136 49% 24% 7% 38%
Vermont 95 17% 12% 5% 31%
Maine 89 31% 6% 0% 25%
Ohio 77 45% 49% 9% 3%
Florida 72 35% 43% 6% 0%
South Carolina 67 48% 24% 9% 1%
Montana 62 31% 3% 3% 31%
Arkansas 52 54% 60% 10% 4%
Illinois 48 50% 35% 8% 19%
Minnesota 47 23% 23% 2% 15%
Virginia 47 17% 24% 2% 0%
Indiana 46 7% 17% 0% 0%
Idaho 39 33% 13% 5% 3%
Louisiana 37 32% 59% 3% 8%
Maryland 34 38% 44% 6% 0%
New Hampshire 32 19% 0% 3% 3%
Arizona 32 22% 47% 6% 0%
Iowa 31 32% 6% 3% 6%
Massachusetts 31 26% 16% 3% 0%
Nevada 31 10% 19% 19% 0%
Connecticut 29 14% 7% 0% 0%
Hawaii 28 32% 36% 0% 4%
Alaska 26 27% 27% 0% 50%
Georgia 25 36% 36% 12% 4%
Colorado 24 33% 13% 13% 38%
New Mexico 24 50% 50% 0% 29%
West Virginia 24 29% 4% 8% 0%
Oklahoma 22 18% 14% 0% 0%
North Dakota 18 6% 11% 6% 0%
Nebraska 17 41% 41% 0% 24%
Kentucky 16 13% 6% 0% 6%
Puerto Rico 13 23% 0% 0% 0%
Rhode Island 10 20% 20% 0% 0%
26 Figure 25 excludes jurisdictions with fewer than 10 transactions. Response rates for self-reported demographic data is as follows: “Women-Owned or Controlled Business Status”
87%, “Minority-Owned or Controlled Business Status” 85%, and “Veteran-Owned or Controlled Business Status” 87%. Rural businesses were determined based on the provided
business address required from the borrower/investee.
26 SSBCI Annual Report 2022-2023
Figure 26: Share of Transactions to Businesses by Self-Reported Principal Owner Demographics27
American Native Middle
Black or Hispanic
Indian or Hawaiian or Eastern
Jurisdiction Transactions Asian African White or Female
Alaska Other Pacific or North
American Latino/a
Native Islander African
California 1139 1% 14% 11% 2% 44% 28% 0% 29%
New York 446 0% 45% 37% 0% 18% 14% 9% 38%
Michigan 364 1% 2% 14% 1% 72% 7% 1% 40%
Pennsylvania 336 0% 6% 22% 0% 46% 10% 1% 29%
North Carolina 178 1% 8% 8% 0% 75% 4% 1% 43%
Kansas 136 3% 10% 6% 0% 79% 8% 1% 48%
Vermont 95 0% 12% 2% 0% 87% 2% 0% 47%
Maine 89 1% 3% 0% 0% 56% 0% 0% 29%
Ohio 77 1% 4% 35% 0% 48% 1% 0% 44%
Florida 72 3% 11% 14% 0% 51% 15% 1% 31%
South Carolina 67 3% 10% 9% 0% 76% 1% 0% 48%
Montana 62 3% 2% 0% 0% 89% 3% 0% 53%
Arkansas 52 4% 0% 40% 2% 52% 17% 0% 54%
Illinois 48 0% 15% 4% 2% 65% 10% 0% 52%
Minnesota 47 2% 9% 9% 2% 49% 9% 0% 26%
Virginia 47 0% 0% 2% 0% 9% 2% 0% 6%
Indiana 46 0% 11% 4% 0% 59% 2% 0% 22%
Idaho 39 0% 0% 0% 0% 82% 13% 0% 38%
Louisiana 37 0% 5% 43% 0% 43% 5% 0% 32%
Maryland 34 0% 9% 24% 0% 29% 3% 3% 26%
Arizona 32 0% 3% 9% 3% 25% 28% 0% 22%
New Hampshire 32 0% 6% 0% 0% 25% 0% 0% 25%
Iowa 31 0% 3% 0% 0% 68% 0% 0% 16%
Massachusetts 31 0% 0% 3% 0% 0% 0% 0% 29%
Nevada 31 3% 13% 6% 0% 35% 0% 6% 10%
Connecticut 29 0% 14% 0% 0% 3% 0% 0% 10%
Hawaii 28 14% 11% 4% 14% 14% 0% 14% 29%
Alaska 26 19% 4% 0% 4% 38% 4% 0% 27%
Georgia 25 4% 4% 24% 0% 32% 4% 4% 40%
Colorado 24 8% 13% 4% 0% 54% 13% 4% 38%
New Mexico 24 0% 4% 13% 0% 71% 38% 4% 46%
West Virginia 24 0% 4% 0% 0% 88% 0% 0% 25%
Oklahoma 22 0% 5% 0% 0% 64% 0% 0% 18%
North Dakota 18 0% 17% 6% 0% 83% 0% 0% 6%
Nebraska 17 0% 0% 35% 0% 53% 6% 0% 41%
Kentucky 16 0% 6% 6% 0% 56% 0% 6% 19%
Puerto Rico 13 0% 0% 0% 0% 0% 0% 0% 46%
Rhode Island 10 0% 0% 0% 0% 40% 20% 0% 30%
27 Figure 26 excludes jurisdictions with fewer than 10 transactions. Response rates for self-reported demographic data is as follows: “Race of Principal Owners” 76%, “Ethnicity of
Principal Owners” 74%, “Middle Eastern or North African Ancestry of Principal Owners” 58%, and “Gender of Principal Owners” 78%. “Sexual Orientation of Principal Owners” was
omitted due to a response rate of 27%.
SSBCI Annual Report 2022-2023 27
Figure 27: Disaggregated Demographic Data for SSBCI-Supported Small Businesses28
Race of Principal Owners Count of Transactions Percent Total (#'s) Percent Reporting (#'s) Loan or Investment Amount Percent Total ($'s) Percent Reporting ($'s)
American Indian or Alaska
60 1.5% 1.9% $ 45,231,976 1.6% 2.5%
Native
Asian 515 12.6% 16.7% $299,963,595 10.9% 16.8%
Indian 121 $84,011,800
Chinese 19 $24,297,400
Filipino 13 $12,138,544
Japanese 5 $5,165,986
Korean 24 $6,377,400
Vietnamese 11 $7,108,180
Asian (Other) 135 $35,628,980
Asian - Unspecified 187 $125,235,306
Black or African American 565 13.9% 18.3% $170,364,601 6.2% 9.5%
Native Hawaiian or Other
42 1.0% 1.4% $10,439,547 0.4% 0.6%
Pacific Islander
Guamanian or Chamorro 5 $2,950,069
Native Hawaiian 5 $840,600
Samoan 0 $-
Pacific Islander (Other) 20 $1,432,280
Native Hawaiian or Other
12 $5,216,599
Pacific Islander - Unspecified
White 1907 46.8% 61.7% $1,264,554,248 45.9% 70.6%
Subtotal Reporting
3089 $1,790,553,966
Demographic Data
Prefer not to respond 461 11.3% $314,634,052 11.4%
The business did not answer 526 12.9% $651,187,297 23.6%
Total Transactions 4076 $2,756,375,316
Ethnicity of Principal Count of Percent Total Percent Reporting Loan or Investment Percent Total Percent Reporting
Owners Transactions (#'s) (#'s) Amount ($'s) ($'s)
Hispanic or Latino/a 532 14% 18% $139,302,392 5% 9%
Not Hispanic or Latino/a 2392 61% 82% $1,496,798,931 55% 91%
Subtotal Reporting
2924 $1,636,101,323
Demographic Data
Prefer not to respond 480 12% $304,715,630 11%
The business did not answer 528 13% $769,026,561 28%
Total Transactions 3932 $2,709,843,515
Middle Eastern or North
African Ancestry of Principal Count of Transactions Percent Total (#'s) Percent Reporting (#'s) Loan or Investment Amount Percent Total ($'s) Percent Reporting ($'s)
Owners
Middle Eastern or North
71 2% 3% $37,436,333 1% 3%
African
Not Middle Eastern or North
2193 56% 97% $1,098,624,187 41% 97%
African
Subtotal Reporting
2264 $1,136,060,520
Demographic Data
Prefer not to respond 617 16% $332,782,472 12%
The business did not answer 1044 27% $1,243,761,494 46%
Total Transactions 3925 $2,712,604,486
28 SSBCI jurisdictions have the option to report as many disaggregated demographic categories as applicable. As such, there may be more demographic data responses than the total
number of transactions.
28 SSBCI Annual Report 2022-2023
Gender of Principal Owners Count of Transactions Percent Total (#'s) Percent Reporting (#'s) Loan or Investment Amount Percent Total ($'s) Percent Reporting ($'s)
Female 1321 31.5% 40.5% $603,340,659 20.9% 30.2%
Male 1934 46.1% 59.3% $1,389,371,454 48.1% 69.6%
Nonbinary 7 0.2% 0.2% $4,162,500 0.1% 0.2%
Prefer to self-describe 2 0.0% 0.1% $579,280 0.0% 0.0%
Subtotal Reporting
3264 $1,997,453,892
Demographic Data
Prefer not to respond 430 10.2% $212,981,167 7.4%
The business did not answer 505 12.0% $675,235,248 23.4%
Total Transactions 4199 $2,885,670,307
Sexual Orientation of Count of Percent Total Percent Reporting Loan or Investment Percent Total Percent Reporting
Principal Owners Transactions (#'s) (#'s) Amount ($'s) ($'s)
Straight, that is, not gay,
1027 26.2% 96.5% $ - 0.0% 0.0%
lesbian, or bisexual
Gay or lesbian 22 0.6% 2.1% $ 13,182,367 0.7% 79.2%
Bisexual 7 0.2% 0.7% $ 2,764,000 0.1% 16.6%
Something Else 8 0.2% 0.8% $687,700 0.0% 4.1%
Subtotal Reporting
1064 $16,634,067
Demographic Data
Prefer not to respond 675 17.2% $377,022,906 19.6%
The business did not answer 2184 55.7% $1,530,399,742 79.5%
Total Transactions 3923 $1,924,056,715
Figure 28: Small Business Opportunity Program and Capital Readiness Program Technical Assistance Awardees29
Participating Jurisdiction Formula TA Allocation Amount SBOP Award Amount (if applicable)
Alabama $3,139,321
Alaska $654,712
American Samoa $470,304
Arizona $3,840,744 $7,901,212
Arkansas $2,073,202
Bad River Band of the Lake Superior Tribe of Chippewa Indians
$161,444
of the Bad River Reservation, Wisconsin
Cahuilla Band of Indians $67,068
California $25,351,336 $9,999,166
Chickasaw Nation $1,000,000 $2,045,000
Citizen Potawatomi Nation, Oklahoma $677,005
Colorado $2,447,924
Commonwealth of Puerto Rico $3,885,940
Confederated Tribes of the Umatilla Indian Reservation $87,298
Connecticut $1,926,365
Coushatta Tribe of Louisiana $70,755
Delaware $724,423
District of Columbia $793,268
Georgia $6,212,315
Guam $573,977
Hawaii $792,935 $1,621,552
Idaho $1,031,720
Illinois $6,830,727
Indiana $2,878,220
29 SSBCI SBOP Factsheet (treasury.gov)
SSBCI Annual Report 2022-2023 29
Participating Jurisdiction Formula TA Allocation Amount SBOP Award Amount (if applicable)
Iowa $1,396,269
Kansas $1,287,731 $2,631,915
Ketchikan Indian Community $119,722
Lac Courte Oreilles Band of Lake Superior Chippewa Indians of
$152,738
Wisconsin
Levelock Village $65,327
Louisiana $3,082,861 $5,380,000
Lower Sioux Indian Community In the State of Minnesota $72,399
Maine $806,715
Maryland $3,300,281 $9,998,396
Mesa Grande Band of Diegueno Mission Indians of the Mesa
$69,888
Grande Reservation, Cal
Michigan $5,290,360 $9,092,364
Minnesota $1,972,321
Mississippi $2,364,320 $4,834,380
Nebraska $922,515
Nevada $2,044,233 $4,179,980
New Hampshire $756,778
New Jersey $4,327,941
New Mexico $1,607,277
New York $10,912,188 $9,446,100
North Carolina $6,208,156
North Dakota $572,143
Ohio $5,249,563
Oklahoma $2,074,829 $4,241,330
Oregon $2,195,974
Pennsylvania $5,517,949
Quechan Tribe of the Fort Yuma Indian Reservation, California &
$93,337
Arizona
Rhode Island $773,623 $1,582,059
Saint Paul Island $75,558
San Pasqual Band of Diegueno Mission Indians of California $64,769
Sault Ste. Marie Tribe of Chippewa Indians, Michigan $840,742
South Carolina $3,102,893
South Dakota $661,542
Tennessee $3,848,992
The Chickasaw Nation $1,000,000
The Osage Nation $427,380
United States Virgin Islands $521,109
Vermont $526,819
Virginia $4,134,756
Washington $3,467,156
West Virginia $1,451,552
Winnemucca Indian Colony of Nevada $63,751
Wisconsin $1,910,161
30 SSBCI Annual Report 2022-2023
Figure 29: Capital Readiness Program Awardees30
Name Service Area(s)
Arizona Hispanic Chamber of Commerce Foundation National, Arizona, California, Nevada
Asian/Pacific Islander Chamber of Commerce National, California, D.C., Georgia, Nevada, New York, Maryland North
Carolina, South Carolina, Pennsylvania, Virginia
Benedict College South Carolina
Bridgeway Capital Ohio, Pennsylvania, West Virginia
Business Outreach Center Network, Inc. New York
California Asian Pacific Chamber of Commerce California
Capital Region Minority Supplier Development Council D.C., Maryland, Virginia
CIC Innovation Services, LLC Massachusetts
College of Southern Nevada Nevada
Community Development Venture Capital Alliance National
Cook Inlet Tribal Council, Inc. Alaska
Covered Community California
Eastern Shore Entrepreneurship Center, Inc. Delaware, Maryland
Exponential Impact d.b.a. Climate Capital Bio National
Florida A&M University, on behalf of FAMU Board of Trustees Florida
Idaho Hispanic Foundation, Inc. Idaho
Impact Hub Houston Texas
JUST Community Inc. Texas
LABSTART INNOVATIONS INC Arizona, California, Colorado, Idaho, Montana, Nevada, New Mexico, Oregon,
Utah, Washington, Wyoming
Louisiana Chamber of Commerce Foundation Louisiana
M. GILL & ASSOCIATES, INC. Florida, Puerto Rico, Virgin Islands
Mobile Area Chamber of Commerce Foundation, Inc. Alabama
Mountain BizCapital, Inc. dba Mountain BizWorks North Carolina
National Minority Supplier Development Council National
National Urban League California, Missouri, Ohio
Native American Development Corporation California, Montana, North Dakota, Oklahoma, South Dakota, Virginia, Wyoming
Northern Great Lakes Initiatives Michigan
Northspan Group, Inc. Minnesota
Rural Community Assistance Corporation Arizona, California, Nevada
Skills for Rhode Island’s Future Rhode Island
Syracuse University National
Systems Consultants Associates, Inc. Mississippi
TechRise Expansion Initiative Powered by P33 Chicago Illinois
Universidad del Sagrado Corazon Puerto Rico
University of Arkansas for Medical Sciences Arkansas
University of Wisconsin System Board of Regents Wisconsin
Urban League of Greater Atlanta (ULGA) Georgia
USBC Community Economic Development Corporation Georgia
USHCC Educational Fund National, D.C.
Ventures Washington
VIBRANT MEMPHIS INC Tennessee
Women’s Economic Self-Sufficiency Team, Corp New Mexico
YWCA Oahu Hawaii
30 See Capital Readiness Program - Competition Winners | Minority Business Development Agency (mbda.gov).
SSBCI Annual Report 2022-2023 31
Figure 30: SSBCI Program Summaries by Jurisdiction31
Expected Expected Median Size Median of Age SEDI SEDI
Count of Overall New Jurisdiction SEDI
Jurisdiction Approved Program Name Program Type Jobs Jobs of Business of Business Percentage Percentage
Transactions Financing Objective ($)
Created Retained (FTEs) (Years) (#) ($)
Alaska Total 26 $14,328,217 175 217 4 3 92.3% 92.0% 32.8%
Alaska Loan Guarantee OCSP - Loan Guarantee
Alaska 26 $14,328,217 175 217 4 3 92.3% 92.0%
Program Program
Arizona Total 32 $114,542,342 520 108 8 3 62.5% 31.7% 51.4%
Arizona Loan Guarantee OCSP - Loan Guarantee
Arizona 18 $8,512,551 39 54 3 4 94.4% 99.3%
Program Program
Arizona Multi-Fund Venture OCSP - Equity Capital
Arizona 11 $92,029,791 471 21 15 2 9.1% 9.7%
Program Program (Funds)
Arizona Venture Co-Invest OCSP - Equity Capital
Arizona 3 $14,000,000 10 33 12 3 66.7% 89.3%
Program Program (Direct)
Arkansas Total 52 $8,122,751 220 28 1 1 100.0% 100.0% 56.2%
Arkansas Capital Access
Arkansas Capital Access Program 50 $1,350,760 93 23 1 1 100.0% 100.0%
Program
Arkansas Venture Capital OCSP - Equity Capital
Arkansas 1 $1,800,000 123 0 3 1 100.0% 100.0%
Development Fund Program (Direct)
Arkansas Venture OCSP - Equity Capital
Arkansas 1 $4,971,991 4 5 5 5 100.0% 100.0%
Development Fund Program (Funds)
California Total 1139 $232,869,585 3,069 7,803 2 3 73.9% 74.6% 48.9%
California Capital Access
California Capital Access Program 317 $11,889,582 61 767 1 2 38.5% 47.6%
Program (CalCAP)
Collateral Support Program OCSP - Collateral Support
California 11 $29,740,000 72 285 13 10 18.2% 33.6%
(CSP) Program
OCSP - Equity Capital
California Inclusive California Initiative 6 $1,350,000 19 19 2 0 33.3% 48.1%
Program (Funds)
Small Business Loan OCSP - Loan Guarantee
California 805 $189,890,003 2,917 6,732 2 3 88.9% 83.7%
Guarantee Program (SBLGP) Program
Colorado Total 24 $32,026,670 222 345 5 2 79.2% 80.4% 35.8%
OCSP - Collateral Support
Colorado Cash Collateral Support 16 $21,173,855 139 249 7 3 68.8% 62.2%
Program
Colorado Venture Capital OCSP - Equity Capital
Colorado 8 $10,852,815 83 96 5 2 100.0% 100.0%
Authority Program (Funds)
Connecticut Total 29 $89,694,909 243 476 12 4 41.4% 47.1% 32.9%
OCSP - Equity Capital
Connecticut CT Innovations Equity Fund 27 $85,694,909 216 458 12 4 44.4% 49.3%
Program (Direct)
OCSP - Equity Capital
Connecticut CT Venture Debt Fund 2 $4,000,000 27 18 9 8 0.0% 0.0%
Program (Direct)
Delaware Total 2 $545,000 0 2 1 0 100.0% 100.0% 33.5%
Delaware Capital Access
Delaware Capital Access Program 2 $545,000 0 2 1 0 100.0% 100.0%
Program
Florida Total 72 $427,017,724 1,330 587 6 3 76.4% 73.8% 54.7%
31 “SEDI” refers to “SEDI-owned business” percentage as defined in Section IV of the SSBCI Capital Program Policy Guidelines, which is used to determine jurisdictions’ incentive allocation disbursements. Figure 30 excludes Tribal governments.
32 SSBCI Annual Report 2022-2023
Expected Expected Median Size Median of Age SEDI SEDI
Count of Overall New Jurisdiction SEDI
Jurisdiction Approved Program Name Program Type Jobs Jobs of Business of Business Percentage Percentage
Transactions Financing Objective ($)
Created Retained (FTEs) (Years) (#) ($)
Florida Capital Access
Florida Capital Access Program 1 $15,000 25 0 14 18 100.0% 100.0%
Program
Florida Small Business Loan
OCSP - Collateral Support
Florida Program - Collateral Support 39 $274,768,924 758 229 10 4 76.9% 77.0%
Program
Program
Florida Small Business Loan
OCSP - Loan Guarantee
Florida Program - Loan Guarantee 4 $9,615,000 121 123 4 2 75.0% 98.8%
Program
Program
Florida Small Business Loan
OCSP - Loan Participation
Florida Program - Loan Participation 11 $12,868,800 36 27 2 6 81.8% 98.8%
Program
Program
Florida Venture Capital OCSP - Equity Capital
Florida 17 $129,750,000 390 208 7 2 70.6% 62.6%
Program Program (Direct)
Georgia Total 25 $24,809,790 118 62 4 3 88.0% 99.2% 53.5%
OCSP - Loan Participation
Georgia Georgia CDFI Program 11 $12,039,117 72 21 2 3 100.0% 100.0%
Program
Georgia Equity Direct OCSP - Equity Capital
Georgia 1 $2,950,000 0 0 1 0 100.0% 100.0%
Program Program (Direct)
Georgia Loan Participation OCSP - Loan Participation
Georgia 9 $9,470,673 42 41 7 3 100.0% 100.0%
Program Program
Georgia Small Business OCSP - Loan Guarantee
Georgia 4 $350,000 4 0 1 6 25.0% 57.1%
Credit Guarantee Program Program
Guam Total 6 $1,645,160 37 49 2 4 100.0% 100.0% 90.0%
OCSP - Loan Guarantee
Guam Loan Guarantee Program 6 $1,645,160 37 49 2 4 100.0% 100.0%
Program
Hawaii Total 28 $21,659,695 643 367 6 2 46.4% 32.5% 26.9%
HI-CAP CDFI Loan Pool OCSP - Loan Participation
Hawaii 3 $190,000 9 17 4 5 100.0% 100.0%
Program (HI-CAP CDFI) Program
OCSP - Collateral Support
Hawaii HI-CAP Collateral 8 $15,344,700 470 285 23 3 37.5% 35.0%
Program
OCSP - Equity Capital
Hawaii HI-CAP Invest 16 $5,724,995 163 64 5 2 37.5% 19.7%
Program (Funds)
OCSP - Loan Participation
Hawaii HI-CAP Loans 1 $400,000 1 1 1 2 100.0% 100.0%
Program
Idaho Total 39 $49,372,791 423 34 4 6 41.0% 42.1% 38.2%
Idaho Collateral Support OCSP - Collateral Support
Idaho 38 $47,332,791 421 34 5 6 42.1% 42.9%
Program Program
Idaho Small Business OCSP - Loan Participation
Idaho 1 $2,040,000 2 0 0 0 0.0% 0.0%
Revolving Loan Fund Program
Illinois Total 48 $32,694,309 154 375 5 3 91.7% 93.4% 37.0%
OCSP - Loan Participation
Illinois Advantage Illinois LPP 48 $32,694,309 154 375 5 3 91.7% 93.4%
Program
Indiana Total 46 $97,474,056 296 424 6 4 54.3% 46.9% 37.0%
SSBCI Annual Report 2022-2023 33
Expected Expected Median Size Median of Age SEDI SEDI
Count of Overall New Jurisdiction SEDI
Jurisdiction Approved Program Name Program Type Jobs Jobs of Business of Business Percentage Percentage
Transactions Financing Objective ($)
Created Retained (FTEs) (Years) (#) ($)
Indiana Twenty-First Century
Research and Technology OCSP - Equity Capital
Indiana 46 $97,474,056 296 424 6 4 54.3% 46.9%
Fund (21 Fund) - Indiana Program (Direct)
Angel Network Fund (IANF)
Iowa Total 31 $73,729,642 319 317 7 4 64.5% 62.5% 25.1%
OCSP - Equity Capital
Iowa IEDA Innovation Continuum 13 $36,164,000 241 106 8 4 46.2% 24.5%
Program (Direct)
Small Business Collateral OCSP - Collateral Support
Iowa 1 $250,000 2 3 3 0 100.0% 100.0%
Support Program Program
Venture Capital Co- OCSP - Equity Capital
Iowa 17 $37,315,642 76 208 4 4 76.5% 77.0%
Investment Fund Program (Direct)
Kansas Total 136 $78,349,200 735 653 3 2 84.6% 76.5% 30.2%
GROWKS Angel Capital OCSP - Equity Capital
Kansas 19 $25,356,075 190 212 8 4 57.9% 68.7%
Support Program Program (Direct)
GROWKS Community Equity OCSP - Equity Capital
Kansas 5 $899,978 11 18 0 4 80.0% 72.2%
Ownership Program Program (Direct)
OCSP - Loan Participation
Kansas GROWKS Loan Fund 106 $37,063,945 483 340 2 1 91.5% 90.7%
Program
GROWKS Multi-Fund Equity OCSP - Equity Capital
Kansas 6 $15,029,202 51 83 18 4 50.0% 55.4%
Program Program (Funds)
Kentucky Total 16 $34,138,562 233 31 9 7 75.0% 80.6% 52.2%
Kentucky Collateral Support OCSP - Collateral Support
Kentucky 4 $7,312,003 29 2 2 5 100.0% 100.0%
Program (KYCSP) Program
Kentucky Venture Capital OCSP - Equity Capital
Kentucky 12 $26,826,559 204 29 11 8 66.7% 75.9%
Program (KYVCP) Direct Program (Direct)
Louisiana Total 37 $5,025,751 87 122 2 4 81.1% 74.4% 54.9%
Louisiana Collateral Support OCSP - Collateral Support
Louisiana 1 $300,118 0 2 2 2 100.0% 100.0%
Program Program
Louisiana Micro Loan OCSP - Loan Participation
Louisiana 25 $1,130,795 54 50 1 5 84.0% 80.8%
Program Program
Louisiana Seed Capital OCSP - Equity Capital
Louisiana 6 $1,454,999 26 31 11 3 83.3% 75.0%
Program Program (Funds)
Louisiana Small Business OCSP - Loan Guarantee
Louisiana 5 $2,139,839 7 39 6 3 60.0% 67.3%
Loan Guaranty Program Program
Maine Total 89 $126,690,319 419 788 7 3 78.7% 86.2% 29.5%
OCSP - Equity Capital
Maine CDFI and MVF 9 $450,000 64 99 4 2 100.0% 100.0%
Program (Funds)
OCSP - Equity Capital
Maine Maine Venture Fund (MVF) 27 $65,539,042 133 270 18 6 74.1% 89.2%
Program (Direct)
Regional Economic
OCSP - Loan Participation
Maine Development Revolving Loan 53 $60,701,277 222 419 5 1 77.4% 78.9%
Program
& Direct Loan Program
Maryland Total 34 $140,264,165 769 636 8 6 76.5% 59.2% 35.0%
34 SSBCI Annual Report 2022-2023
Expected Expected Median Size Median of Age SEDI SEDI
Count of Overall New Jurisdiction SEDI
Jurisdiction Approved Program Name Program Type Jobs Jobs of Business of Business Percentage Percentage
Transactions Financing Objective ($)
Created Retained (FTEs) (Years) (#) ($)
MSBDFA Equity Participation
OCSP - Loan Participation
Maryland Investment Program - Loan 3 $4,893,000 55 252 9 5 100.0% 100.0%
Program
(Commerce)
Neighborhood Business OCSP - Equity Capital
Maryland 1 $10,831,165 200 72 72 9 100.0% 100.0%
Works Venture Debt (DHCD) Program (Direct)
OCSP - Equity Capital
Maryland Seeds Funds Equity (TEDCO) 11 $27,350,000 302 117 5 4 90.9% 97.8%
Program (Direct)
OCSP - Equity Capital
Maryland Social Impact Funds (TEDCO) 8 $19,500,000 168 33 5 6 100.0% 100.0%
Program (Direct)
Venture Capital Limited OCSP - Equity Capital
Maryland 1 $600,000 2 15 15 8 0.0% 0.0%
Partnership Equity (TEDCO) Program (Funds)
OCSP - Equity Capital
Maryland Venture Equity Fund (TEDCO) 10 $77,090,000 42 147 10 7 40.0% 27.4%
Program (Direct)
Massachusetts Total 31 $95,319,394 486 387 12 4 87.1% 73.0% 31.8%
Massachusetts Growth
OCSP - Loan Participation
Massachusetts Capital Corp. Commercial 6 $1,875,000 25 113 16 10 83.3% 73.3%
Program
Lending Program
MassDevelopment
Economically Distressed Area OCSP - Loan Participation
Massachusetts 9 $33,749,400 184 209 20 4 100.0% 100.0%
(EDA) Loan Enhancement & Program
Equipment Program
MassDevelopment Loan OCSP - Loan Guarantee
Massachusetts 2 $3,280,000 13 14 14 60 100.0% 100.0%
Guarantee Program Program
MassVentures Deep Tech OCSP - Equity Capital
Massachusetts 14 $56,414,994 264 51 10 3 78.6% 55.2%
Diversity Venture Fund Program (Direct)
Michigan Total 364 $93,756,598 1,123 1,714 2 1 63.2% 44.3% 40.4%
Michigan Business Growth
Michigan Fund - Capital Access Capital Access Program 220 $23,067,748 288 708 2 1 70.5% 72.6%
Program
Michigan Business Growth
OCSP - Collateral Support
Michigan Fund - Collateral Support 42 $53,652,154 564 592 11 5 26.2% 26.5%
Program
Program
Michigan Business Growth
OCSP - Loan Guarantee
Michigan Fund - Loan Guarantee 100 $9,583,697 255 362 1 2 63.0% 64.3%
Program
Program
Michigan Business Growth
OCSP - Loan Participation
Michigan Fund - Loan Participation 2 $7,453,000 16 52 26 37 50.0% 59.8%
Program
Program
Minnesota Total 47 $53,542,540 479 76 5 5 66.0% 61.7% 26.2%
Automation Loan OCSP - Loan Participation
Minnesota 13 $11,452,249 43 11 38 27 53.8% 56.5%
Participation Program Program
Direct Investment VC OCSP - Equity Capital
Minnesota 1 $12,803,996 20 28 28 5 100.0% 100.0%
Program Program (Direct)
OCSP - Equity Capital
Minnesota Growth Loan Fund 1 $398,107 4 4 5 2 100.0% 100.0%
Program (Direct)
SSBCI Annual Report 2022-2023 35
Expected Expected Median Size Median of Age SEDI SEDI
Count of Overall New Jurisdiction SEDI
Jurisdiction Approved Program Name Program Type Jobs Jobs of Business of Business Percentage Percentage
Transactions Financing Objective ($)
Created Retained (FTEs) (Years) (#) ($)
Minnesota Loan Guarantee OCSP - Loan Guarantee
Minnesota 17 $17,131,038 193 21 3 2 58.8% 31.4%
Program Program
OCSP - Equity Capital
Minnesota Multi-Fund VC Program 9 $10,574,993 156 12 3 2 66.7% 36.5%
Program (Funds)
Small Business Loan OCSP - Loan Participation
Minnesota 6 $1,182,157 63 0 2 3 100.0% 100.0%
Participation Program Program
Missouri Total 8 $8,474,992 87 13 6 3 37.5% 46.0% 41.8%
IDEA Fund Co-Investment OCSP - Equity Capital
Missouri 8 $8,474,992 87 13 6 3 37.5% 46.0%
Program Program (Direct)
Montana Total 62 $105,369,728 369 522 5 7 77.4% 79.9% 32.8%
MT SSBCI 2.0 Loan OCSP - Loan Participation
Montana 62 $105,369,728 369 522 5 7 77.4% 79.9%
Participation Program Program
Nebraska Total 17 $17,440,652 119 153 2 4 88.2% 97.1% 27.2%
Nebraska Growth Loan Fund OCSP - Loan Participation
Nebraska 7 $2,581,350 42 25 2 3 85.7% 97.5%
(NGLF) Program
Nebraska Seed and OCSP - Equity Capital
Nebraska 10 $14,859,302 77 128 5 4 90.0% 97.0%
Development Fund (NSDF) Program (Direct)
Nevada Total 31 $15,147,482 332 333 4 2 71.0% 87.4% 48.9%
OCSP - Collateral Support
Nevada Collateral Support Program 3 $6,545,482 42 158 68 9 100.0% 100.0%
Program
Nevada Loan Participation
OCSP - Loan Participation
Nevada Program - Small Loans 2 $500,000 7 9 5 7 100.0% 100.0%
Program
(<$250k)
State Sponsored Venture OCSP - Equity Capital
Nevada 26 $8,102,000 283 166 3 2 65.4% 76.5%
Capital Program Program (Direct)
New Hampshire Total 32 $97,563,706 109 563 11 1 62.5% 72.7% 25.9%
Loan Participation Program
OCSP - Loan Participation
New Hampshire - Aid to Local Development 3 $2,255,000 25 25 5 2 66.7% 50.5%
Program
Organizations (ALDO)
Loan Participation Program OCSP - Loan Participation
New Hampshire 29 $95,308,706 84 538 15 1 62.1% 73.3%
- Term Program
New Jersey Total 3 $3,246,979 10 15 12 3 33.3% 39.6% 31.0%
OCSP - Equity Capital
New Jersey Angel Match Program 3 $3,246,979 10 15 12 3 33.3% 39.6%
Program (Direct)
New Mexico Total 24 $16,687,908 251 159 3 4 75.0% 59.3% 57.3%
Collateral Assistance OCSP - Collateral Support
New Mexico 24 $16,687,908 251 159 3 4 75.0% 59.3%
Program Program
New York Total 446 $82,267,134 663 1,641 2 6 85.0% 66.1% 41.4%
New York Capital Access Program Capital Access Program 159 $3,337,764 62 291 1 7 93.7% 92.3%
Contractor Financing OCSP - Loan Guarantee
New York 33 $6,701,760 270 326 6 9 90.9% 93.1%
Revolving Loan Fund Program
New York Forward Loan OCSP - Loan Participation
New York 163 $12,195,430 137 477 1 5 77.3% 79.5%
Fund II Program
36 SSBCI Annual Report 2022-2023
Expected Expected Median Size Median of Age SEDI SEDI
Count of Overall New Jurisdiction SEDI
Jurisdiction Approved Program Name Program Type Jobs Jobs of Business of Business Percentage Percentage
Transactions Financing Objective ($)
Created Retained (FTEs) (Years) (#) ($)
New York State Bonding OCSP - Loan Guarantee
New York 6 $15,500,000 10 155 15 10 100.0% 100.0%
Assistance Program Program
NYS Innovation Venture OCSP - Equity Capital
New York 2 $11,075,000 8 2 1 1 50.0% 21.4%
Capital Fund Program (Direct)
Pre-Seed and Seed
OCSP - Equity Capital
New York Investment Matching 22 $24,252,980 119 119 5 3 86.4% 56.0%
Program (Direct)
Program
Small Business Revolving OCSP - Loan Participation
New York 61 $9,204,200 57 271 3 6 78.7% 39.3%
Loan Fund II Program
North Carolina Total 178 $232,614,233 1,233 1,417 7 7 79.8% 75.0% 54.1%
NC Loan Participation OCSP - Loan Participation
North Carolina 158 $225,268,733 1,193 1,314 7 8 77.8% 75.4%
Program Program
OCSP - Equity Capital
North Carolina NC Venture Capital Program 20 $7,345,500 40 103 4 2 95.0% 58.2%
Program (Funds)
North Dakota Total 18 $30,862,509 377 42 7 6 38.9% 84.1% 21.8%
Angel Match Program North OCSP - Equity Capital
North Dakota 13 $5,922,499 232 42 4 6 15.4% 16.9%
Dakota Program (Direct)
OCSP - Equity Capital
North Dakota Direct Investment Program 5 $24,940,010 145 0 17 4 100.0% 100.0%
Program (Direct)
Ohio Total 77 $13,823,096 378 344 1 2 96.1% 83.2% 38.1%
CDFI Loan Participation OCSP - Loan Participation
Ohio 70 $5,960,596 230 190 1 2 100.0% 100.0%
Program Program
Collateral Enhancement OCSP - Collateral Support
Ohio 7 $7,862,500 148 154 25 2 57.1% 70.4%
Program Program
Oklahoma Total 22 $59,018,985 721 450 5 2 63.6% 70.1% 43.2%
Oklahoma Venture Capital OCSP - Equity Capital
Oklahoma 22 $59,018,985 721 450 5 2 63.6% 70.1%
Investments Program (Funds)
Oregon Total 5 $5,685,831 38 10 10 2 100.0% 100.0% 45.3%
OCSP - Loan Guarantee
Oregon Credit Enhancement Fund 4 $5,285,831 31 10 25 3 100.0% 100.0%
Program
OCSP - Equity Capital
Oregon Oregon Royalty Fund 1 $400,000 7 0 2 1 100.0% 100.0%
Program (Direct)
Pennsylvania Total 336 $225,379,524 1,672 1,882 4 5 76.2% 69.2% 31.3%
PA-SSBCI Diverse Venture OCSP - Equity Capital
Pennsylvania 6 $1,350,000 15 42 5 6 0.0% 0.0%
Loan Program Program (Funds)
PA-SSBCI Equity Capital OCSP - Equity Capital
Pennsylvania 92 $142,825,431 632 662 6 5 62.0% 60.7%
Program Program (Direct)
PA-SSBCI Revolving Loan OCSP - Loan Participation
Pennsylvania 238 $81,204,093 1,025 1,178 3 4 83.6% 88.4%
Fund Program Program
Puerto Rico Total 13 $9,533,449 410 550 7 3 100.0% 100.0% 90.0%
OCSP - Loan Participation
Puerto Rico Loan Participation Program 13 $9,533,449 410 550 7 3 100.0% 100.0%
Program
Rhode Island Total 10 $3,561,000 23 65 5 2 60.0% 80.3% 34.1%
SSBCI Annual Report 2022-2023 37
Expected Expected Median Size Median of Age SEDI SEDI
Count of Overall New Jurisdiction SEDI
Jurisdiction Approved Program Name Program Type Jobs Jobs of Business of Business Percentage Percentage
Transactions Financing Objective ($)
Created Retained (FTEs) (Years) (#) ($)
OCSP - Loan Participation
Rhode Island Loan Participation Program 8 $2,396,000 18 32 4 2 62.5% 90.1%
Program
OCSP - Equity Capital
Rhode Island Venture Capital Program 2 $1,165,000 5 33 17 8 50.0% 60.1%
Program (Direct)
South Carolina Total 67 $81,168,150 326 810 8 7 100.0% 100.0% 55.7%
South Carolina SSBCI Loan OCSP - Loan Participation
South Carolina 67 $81,168,150 326 810 8 7 100.0% 100.0%
Participation Program Program
South Dakota Total 6 $4,555,321 28 0 5 4 33.3% 21.1% 29.3%
OCSP - Loan Participation
South Dakota SD Works 6 $4,555,321 28 0 5 4 33.3% 21.1%
Program
Tennessee Total 5 $3,716,500 4 25 6 2 100.0% 100.0% 51.9%
OCSP - Equity Capital
Tennessee InvestTN Regional Seed Fund 2 $520,000 3 3 2 2 100.0% 100.0%
Program (Direct)
OCSP - Equity Capital
Tennessee InvestTN Technology Fund 1 $2,750,000 1 6 6 2 100.0% 100.0%
Program (Direct)
OCSP - Loan Participation
Tennessee LendTN 2 $446,500 0 16 8 2 100.0% 100.0%
Program
Vermont Total 95 $103,746,416 440 40 2 11 63.2% 70.6% 17.9%
Vermont Equity Capital OCSP - Equity Capital
Vermont 3 $3,099,998 17 0 18 9 33.3% 41.9%
Program (Funds) Program (Funds)
Vermont Loan Participation OCSP - Loan Participation
Vermont 92 $100,646,418 423 40 2 11 64.1% 71.6%
Program Program
Virgin Islands Total 2 $910,000 9 16 8 8 100.0% 100.0% 90.0%
OCSP - Loan Guarantee
Virgin Islands Loan Guarantee Program 2 $910,000 9 16 8 8 100.0% 100.0%
Program
Virginia Total 47 $39,191,239 612 595 5 5 51.1% 38.4% 33.3%
SSBCI Venture Capital OCSP - Equity Capital
Virginia 47 $39,191,239 612 595 5 5 51.1% 38.4%
Program (Direct) Program (Direct)
West Virginia Total 24 $25,694,530 112 310 2 2 75.0% 84.8% 56.1%
OCSP - Collateral Support
West Virginia Collateral Support Fund 15 $17,149,530 69 293 1 1 73.3% 78.6%
Program
Seed Capital Co-Investment OCSP - Equity Capital
West Virginia 5 $5,565,000 17 14 3 3 80.0% 94.6%
Fund Program (Direct)
OCSP - Loan Participation
West Virginia Subordinated Debt Fund 4 $2,980,000 26 3 2 3 75.0% 94.8%
Program
Wyoming Total 6 $43,230,626 149 0 14 3 50.0% 62.7% 24.7%
OCSP - Equity Capital
Wyoming Wyoming Venture Direct 6 $43,230,626 149 0 14 3 50.0% 62.7%
Program (Direct)
38 SSBCI Annual Report 2022-2023
Figure 31: Jurisdiction Performance32
Alaska Arizona
Allocation Amount: $60,560,603 Allocation Amount: $114,872,098
Number of Loans/Investments 26 Number of Loans/Investments 32
SSBCI Original Allocated Funds Expended $6,002,663 SSBCI Original Allocated Funds Expended $6,788,461
SSBCI Recycled Funds Expended $0 SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $14,328,217 Total New Financing to Small Businesses $114,542,342
TRANSACTION SIZE: TRANSACTION SIZE:
Median Principal Loan/Investment Size $283,500 Median Principal Loan/Investment Size $498,091
Minimum Principal Loan/Investment Size $24,335 Minimum Principal Loan/Investment Size $10,000
Maximum Principal Loan/Investment Size $2,465,670 Maximum Principal Loan/Investment Size $16,500,000
CHARACTERISTICS AND DEMOGRAPHICS: CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 92.3% SEDI (by Number of Transactions) 62.5%
VSB (by Number of Transactions) 76.9% VSB (by Number of Transactions) 59.4%
Minority Owned (by Number of Transactions) 26.9% Minority Owned (by Number of Transactions) 46.9%
Women Owned (by Number of Transactions) 26.9% Women Owned (by Number of Transactions) 21.9%
Veteran Owned (by Number of Transactions) 0.0% Veteran Owned (by Number of Transactions) 6.3%
Rural Area (by Number of Transactions) 50.0% Rural Area (by Number of Transactions) 0.0%
BUSINESS AGE AND SIZE BUSINESS AGE AND SIZE
Median Business Age at Loan/Investment 3 Median Business Age at Loan/Investment 3
Median Business Size (FTEs) 4 Median Business Size (FTEs) 8
Median Business Size (Annual Revenue) $274,538 Median Business Size (Annual Revenue) $556,014
Total Number of Jobs Expected Created or Total Number of Jobs Expected Created or
392 628
Retained Retained
Jobs Created 175 Jobs Created 520
Jobs Retained 217
Jobs Retained 108
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Transportation and Warehousing 6
Professional, Scientific, & Technical Services 9
Accommodation and Food Services 4
Manufacturing 5
Construction 3
Accommodation and Food Services 4
Top 3 Industries by Dollar Amount
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Transportation and Warehousing $4,030,158
Professional, Scientific, and Technical Services $37,394,104
Manufacturing $2,700,000
Manufacturing $19,976,182
Construction $1,700,000
Educational Services $10,000,000
32 Demographics and business revenue are reported only for jurisdictions with at least 10 transactions. Figure 31 excludes Tribal governments.
SSBCI Annual Report 2022-2023 39
Arkansas California
Allocation Amount: $83,694,893 Allocation Amount: $1,207,348,949
Number of Loans/Investments 52 Number of Loans/Investments 1,139
SSBCI Original Allocated Funds Expended $490,054 SSBCI Original Allocated Funds Expended $140,597,395
SSBCI Recycled Funds Expended $0 SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $8,122,751 Total New Financing to Small Businesses $232,869,585
TRANSACTION SIZE: TRANSACTION SIZE:
Median Principal Loan/Investment Size $25,000 Median Principal Loan/Investment Size $50,000
Minimum Principal Loan/Investment Size $3,000 Minimum Principal Loan/Investment Size $2,000
Maximum Principal Loan/Investment Size $2,510,996 Maximum Principal Loan/Investment Size $9,000,000
CHARACTERISTICS AND DEMOGRAPHICS: CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 100.0% SEDI (by Number of Transactions) 73.9%
VSB (by Number of Transactions) 98.1% VSB (by Number of Transactions) 83.6%
Minority Owned (by Number of Transactions) 59.6% Minority Owned (by Number of Transactions) 68.0%
Women Owned (by Number of Transactions) 53.9% Women Owned (by Number of Transactions) 32.2%
Veteran Owned (by Number of Transactions) 9.6% Veteran Owned (by Number of Transactions) 2.6%
Rural Area (by Number of Transactions) 3.9% Rural Area (by Number of Transactions) 0.4%
BUSINESS AGE AND SIZE BUSINESS AGE AND SIZE
Median Business Age at Loan/Investment 1 Median Business Age at Loan/Investment 3
Median Business Size (FTEs) 1 Median Business Size (FTEs) 2
Median Business Size (Annual Revenue) $9,000 Median Business Size (Annual Revenue) $210,012
Total Number of Jobs Expected Created or Total Number of Jobs Expected Created or
10,872
Retained 248 Retained
Jobs Created 220 Jobs Created 3,069
Jobs Retained 28 Jobs Retained 7,803
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Retail Trade 11 Transportation and Warehousing 362
Accommodation and Food Services 9 Accommodation and Food Services 144
Construction 7 Professional, Scientific, & Technical Services 80
TOP 3 INDUSTRIES BY DOLLAR AMOUNT TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Finance and Insurance $2,510,996 Accommodation and Food Services $27,181,152
Manufacturing $26,460,339
Administrative, Support, Waste $1,150,000
Management and Remediation Services Construction $25,174,608
Retail Trade $277,617
40 SSBCI Annual Report 2022-2023
Colorado Connecticut
Allocation Amount: $107,221,478 Allocation Amount: $121,341,299
Number of Loans/Investments 24 Number of Loans/Investments 29
SSBCI Original Allocated Funds Expended $4,457,593 SSBCI Original Allocated Funds Expended $18,599,998
SSBCI Recycled Funds Expended $0 SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $32,026,670 Total New Financing to Small Businesses $89,694,909
TRANSACTION SIZE: TRANSACTION SIZE:
Median Principal Loan/Investment Size $500,000 Median Principal Loan/Investment Size $2,100,000
Minimum Principal Loan/Investment Size $40,000 Minimum Principal Loan/Investment Size $365,000
Maximum Principal Loan/Investment Size $2,700,000 Maximum Principal Loan/Investment Size $15,000,000
CHARACTERISTICS AND DEMOGRAPHICS: CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 79.2% SEDI (by Number of Transactions) 41.4%
VSB (by Number of Transactions) 70.8% VSB (by Number of Transactions) 41.4%
Minority Owned (by Number of Transactions) 12.5% Minority Owned (by Number of Transactions) 6.9%
Women Owned (by Number of Transactions) 33.3% Women Owned (by Number of Transactions) 13.8%
Veteran Owned (by Number of Transactions) 12.5% Veteran Owned (by Number of Transactions) 0.0%
Rural Area (by Number of Transactions) 37.5% Rural Area (by Number of Transactions) 0.0%
BUSINESS AGE AND SIZE
BUSINESS AGE AND SIZE
Median Business Age at Loan/Investment 2
Median Business Age at Loan/Investment 4
Median Business Size (FTEs) 5
Median Business Size (FTEs) 12
Median Business Size (Annual Revenue) $260,289
Median Business Size (Annual Revenue) $1,046,823
Total Number of Jobs Expected Created or
Total Number of Jobs Expected Created or
Retained 567
Retained 719
Jobs Created 222
Jobs Created 243
Jobs Retained 345
Jobs Retained 476
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Accommodation and Food Services 6
Professional, Scientific, & Technical Services 12
Manufacturing 5
Health Care and Social Assistance 4
Information 3
Manufacturing 4
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Manufacturing $6,990,000
Professional, Scientific, & Technical Services $30,218,717
Information $3,607,817
Manufacturing $24,028,447
Construction $2,200,000
Health Care and Social Assistance $11,824,712
SSBCI Annual Report 2022-2023 41
Delaware Florida
Allocation Amount: $61,697,526 Allocation Amount: $501,610,209
Number of Loans/Investments 2 Number of Loans/Investments 72
SSBCI Original Allocated Funds Expended $21,800 SSBCI Original Allocated Funds Expended $106,543,057
SSBCI Recycled Funds Expended $0 SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $545,000 Total New Financing to Small Businesses $427,017,724
TRANSACTION SIZE: TRANSACTION SIZE:
Median Principal Loan/Investment Size $272,500 Median Principal Loan/Investment Size $4,258,250
Minimum Principal Loan/Investment Size $145,000 Minimum Principal Loan/Investment Size $15,000
Maximum Principal Loan/Investment Size $400,000 Maximum Principal Loan/Investment Size $20,000,000
CHARACTERISTICS AND DEMOGRAPHICS: CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 100.0% SEDI (by Number of Transactions) 75.0%
VSB (by Number of Transactions) 100.0% VSB (by Number of Transactions) 60.5%
BUSINESS AGE AND SIZE Minority Owned (by Number of Transactions) 42.1%
Median Business Age at Loan/Investment 0 Women Owned (by Number of Transactions) 35.5%
Median Business Size (FTEs) 1 Veteran Owned (by Number of Transactions) 5.3%
Median Business Size (Annual Revenue) $0 Rural Area (by Number of Transactions) 0.0%
Total Number of Jobs Expected Created or BUSINESS AGE AND SIZE
Retained 2 Median Business Age at Loan/Investment 3
Jobs Created 0 Median Business Size (FTEs) 6
Jobs Retained 2 Median Business Size (Annual Revenue) $412,692
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS Total Number of Jobs Expected Created or
Retained 1,954
Accommodation and Food Services 2
Jobs Created 1,365
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Jobs Retained 589
Accommodation and Food Services $545,000
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Accommodation and Food Services 15
Professional, Scientific, & Technical Services 14
Construction 8
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Accommodation and Food Services $106,894,647
Professional, Scientific, & Technical Services $85,515,000
Manufacturing $48,973,507
42 SSBCI Annual Report 2022-2023
Georgia Hawaii
Allocation Amount: $205,829,175 Allocation Amount: $62,814,892
Number of Loans/Investments 25 Number of Loans/Investments 28
SSBCI Original Allocated Funds Expended $6,039,775 SSBCI Original Allocated Funds Expended $4,322,189
SSBCI Recycled Funds Expended $0 SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $24,809,790 Total New Financing to Small Businesses $21,659,695
TRANSACTION SIZE: TRANSACTION SIZE:
Median Principal Loan/Investment Size $222,922 Median Principal Loan/Investment Size $300,000
Minimum Principal Loan/Investment Size $30,000 Minimum Principal Loan/Investment Size $25,000
Maximum Principal Loan/Investment Size $3,039,000 Maximum Principal Loan/Investment Size $5,500,000
CHARACTERISTICS AND DEMOGRAPHICS: CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 88.0% SEDI (by Number of Transactions) 46.4%
VSB (by Number of Transactions) 84.0% VSB (by Number of Transactions) 57.1%
Minority Owned (by Number of Transactions) 36.0% Minority Owned (by Number of Transactions) 35.7%
Women Owned (by Number of Transactions) 36.0% Women Owned (by Number of Transactions) 32.1%
Veteran Owned (by Number of Transactions) 12.0% Veteran Owned (by Number of Transactions) 0.0%
Rural Area (by Number of Transactions) 4.0% Rural Area (by Number of Transactions) 3.6%
BUSINESS AGE AND SIZE BUSINESS AGE AND SIZE
Median Business Age at Loan/Investment 3 Median Business Age at Loan/Investment 2
Median Business Size (FTEs) 4 Median Business Size (FTEs) 6
Median Business Size (Annual Revenue) $246,812 Median Business Size (Annual Revenue) $100,000
Total Number of Jobs Expected Created or Total Number of Jobs Expected Created or
Retained 180 Retained 1,010
Jobs Created 118 Jobs Created 643
Jobs Retained 62 Jobs Retained 367
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Other Services (except Public Administration) 4 Professional, Scientific, & Technical Services 8
Accommodation and Food Services 3 Agriculture, Forestry, fishing & Hunting 7
Construction 3 Accommodation and Food Services 4
TOP 3 INDUSTRIES BY DOLLAR AMOUNT TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Other Services (except Public Administration) $3,544,000 Accommodation and Food Services $8,700,000
Information $2,950,000 Arts, Entertainment, and Recreation $2,981,000
Retail Trade $2,605,500 Professional, Scientific, & Technical Services $2,974,998
SSBCI Annual Report 2022-2023 43
Idaho Illinois
Allocation Amount: $66,709,268 Allocation Amount: $361,457,297
Number of Loans/Investments 39 Number of Loans/Investments 48
SSBCI Original Allocated Funds Expended $7,943,443 SSBCI Original Allocated Funds Expended $9,847,867
SSBCI Recycled Funds Expended $0 SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $49,372,791 Total New Financing to Small Businesses $32,694,309
TRANSACTION SIZE: TRANSACTION SIZE:
Median Principal Loan/Investment Size $722,268 Median Principal Loan/Investment Size $185,000
Minimum Principal Loan/Investment Size $10,450 Minimum Principal Loan/Investment Size $20,000
Maximum Principal Loan/Investment Size $6,000,000 Maximum Principal Loan/Investment Size $4,000,000
CHARACTERISTICS AND DEMOGRAPHICS: CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 41.0% SEDI (by Number of Transactions) 91.7%
VSB (by Number of Transactions) 64.1% VSB (by Number of Transactions) 68.8%
Minority Owned (by Number of Transactions) 12.8% Minority Owned (by Number of Transactions) 35.4%
Women Owned (by Number of Transactions) 33.3% Women Owned (by Number of Transactions) 50.0%
Veteran Owned (by Number of Transactions) 5.1% Veteran Owned (by Number of Transactions) 8.3%
Rural Area (by Number of Transactions) 2.6% Rural Area (by Number of Transactions) 18.8%
BUSINESS AGE AND SIZE BUSINESS AGE AND SIZE
Median Business Age at Loan/Investment 6 Median Business Age at Loan/Investment 3
Median Business Size (FTEs) 4 Median Business Size (FTEs) 5
Median Business Size (Annual Revenue) $1,099,000 Median Business Size (Annual Revenue) $677,231
Total Number of Jobs Expected Created or Total Number of Jobs Expected Created or
Retained 457 Retained 529
Jobs Created 423 Jobs Created 154
Jobs Retained 34 Jobs Retained 375
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Construction 10 Accommodation and Food Services 8
Health Care and Social Assistance 7 Health Care and Social Assistance 6
Manufacturing 5 Retail Trade 6
TOP 3 INDUSTRIES BY DOLLAR AMOUNT TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Manufacturing $12,561,161 Accommodation and Food Services $5,747,550
Accommodation and Food Services $9,787,730 Wholesale Trade $4,000,000
Health Care and Social Assistance $6,786,216 Other Services (except Public Administration) $3,218,500
44 SSBCI Annual Report 2022-2023
Indiana Iowa
Allocation Amount: $101,965,945 Allocation Amount: $97,498,913
Number of Loans/Investments 46 Number of Loans/Investments 31
SSBCI Original Allocated Funds Expended $15,698,386 SSBCI Original Allocated Funds Expended $10,941,478
SSBCI Recycled Funds Expended $0 SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $97,474,056 Total New Financing to Small Businesses $73,729,642
TRANSACTION SIZE: TRANSACTION SIZE:
Median Principal Loan/Investment Size $1,139,321 Median Principal Loan/Investment Size $1,000,000
Minimum Principal Loan/Investment Size $200,002 Minimum Principal Loan/Investment Size $200,000
Maximum Principal Loan/Investment Size $5,100,033 Maximum Principal Loan/Investment Size $6,000,000
CHARACTERISTICS AND DEMOGRAPHICS: CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 54.3% SEDI (by Number of Transactions) 64.5%
VSB (by Number of Transactions) 58.7% VSB (by Number of Transactions) 67.7%
Minority Owned (by Number of Transactions) 17.4% Minority Owned (by Number of Transactions) 6.5%
Women Owned (by Number of Transactions) 6.5% Women Owned (by Number of Transactions) 32.3%
Veteran Owned (by Number of Transactions) 0.0%
Veteran Owned (by Number of Transactions) 3.2%
Rural Area (by Number of Transactions) 0.0%
Rural Area (by Number of Transactions) 6.5%
BUSINESS AGE AND SIZE
BUSINESS AGE AND SIZE
Median Business Age at Loan/Investment 4
Median Business Age at Loan/Investment 4
Median Business Size (FTEs) 6
Median Business Size (FTEs) 7
Median Business Size (Annual Revenue) $176,253
Median Business Size (Annual Revenue) $578,321
Total Number of Jobs Expected Created or
720 Total Number of Jobs Expected Created or
Retained 636
Retained
Jobs Created 296
Jobs Created 319
Jobs Retained 424
Jobs Retained 317
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Professional, Scientific, & Technical Services 21
Information 13
Information 18
Professional, Scientific, & Technical Services 7
Manufacturing 4
Manufacturing 6
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Information $29,401,521
Information $21,139,408
Professional, Scientific, & Technical Services $21,975,746
Professional, Scientific, & Technical Services $12,149,992
Manufacturing $5,285,746
Manufacturing $8,600,000
SSBCI Annual Report 2022-2023 45
Kansas Kentucky
Allocation Amount: $70,884,578 Allocation Amount: $117,122,549
Number of Loans/Investments 136 Number of Loans/Investments 16
SSBCI Original Allocated Funds Expended $14,322,034 SSBCI Original Allocated Funds Expended $9,033,188
SSBCI Recycled Funds Expended $0 SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $78,349,200 Total New Financing to Small Businesses $34,138,562
TRANSACTION SIZE: TRANSACTION SIZE:
Median Principal Loan/Investment Size $249,995 Median Principal Loan/Investment Size $1,355,000
Minimum Principal Loan/Investment Size $15,000 Minimum Principal Loan/Investment Size $115,678
Maximum Principal Loan/Investment Size $7,600,000
Maximum Principal Loan/Investment Size $6,500,000
CHARACTERISTICS AND DEMOGRAPHICS:
CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 84.6%
SEDI (by Number of Transactions) 75.0%
VSB (by Number of Transactions) 80.2%
VSB (by Number of Transactions) 50.0%
Minority Owned (by Number of Transactions) 24.3%
Minority Owned (by Number of Transactions) 6.3%
Women Owned (by Number of Transactions) 48.5%
Women Owned (by Number of Transactions) 12.5%
Veteran Owned (by Number of Transactions) 7.4%
Veteran Owned (by Number of Transactions) 0.0%
Rural Area (by Number of Transactions) 37.5%
Rural Area (by Number of Transactions) 6.3%
BUSINESS AGE AND SIZE
BUSINESS AGE AND SIZE
Median Business Age at Loan/Investment 2
Median Business Age at Loan/Investment 7
Median Business Size (FTEs) 3
Median Business Size (FTEs) 9
Median Business Size (Annual Revenue) $99,155
Total Number of Jobs Expected Created or Median Business Size (Annual Revenue) $257,500
1,388
Retained Total Number of Jobs Expected Created or
264
Jobs Created 735 Retained
Jobs Retained 653 Jobs Created 233
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS Jobs Retained 31
Manufacturing 24 TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Accommodation and Food Services 20 Manufacturing 5
Other Services (Except Public Administration) 17 Information 4
TOP 3 INDUSTRIES BY DOLLAR AMOUNT Professional, Scientific, & Technical Services 3
Information $21,017,929 TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Professional, Scientific, & Technical Services $12,208,267 Manufacturing $11,659,997
Accommodation and Food Services $11,250,143 Professional, Scientific, & Technical Services $8,446,735
Information $4,739,990
46 SSBCI Annual Report 2022-2023
Louisiana Maine
Allocation Amount: $63,039,633
Allocation Amount: $116,154,266
Number of Loans/Investments 37 Number of Loans/Investments 89
SSBCI Original Allocated Funds Expended $2,225,456 SSBCI Original Allocated Funds Expended $32,678,660
SSBCI Recycled Funds Expended $0 SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $5,025,751 Total New Financing to Small Businesses $126,690,319
TRANSACTION SIZE: TRANSACTION SIZE:
Median Principal Loan/Investment Size $50,000 Median Principal Loan/Investment Size $410,000
Minimum Principal Loan/Investment Size $6,000 Minimum Principal Loan/Investment Size $16,000
Maximum Principal Loan/Investment Size $1,314,839 Maximum Principal Loan/Investment Size $15,070,510
CHARACTERISTICS AND DEMOGRAPHICS: CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 81.1% SEDI (by Number of Transactions) 78.7%
VSB (by Number of Transactions) 86.5% VSB (by Number of Transactions) 58.4%
Minority Owned (by Number of Transactions) 59.5% Minority Owned (by Number of Transactions) 5.6%
Women Owned (by Number of Transactions) 32.4% Women Owned (by Number of Transactions) 31.5%
Veteran Owned (by Number of Transactions) 2.7% Veteran Owned (by Number of Transactions) 0.0%
Rural Area (by Number of Transactions) 8.1% Rural Area (by Number of Transactions) 24.7%
BUSINESS AGE AND SIZE BUSINESS AGE AND SIZE
Median Business Age at Loan/Investment 4 Median Business Age at Loan/Investment 3
Median Business Size (FTEs) 2 Median Business Size (FTEs) 7
Median Business Size (Annual Revenue) $100,010 Median Business Size (Annual Revenue) $135,882
Total Number of Jobs Expected Created or Total Number of Jobs Expected Created or
209 1,207
Retained Retained
Jobs Created 87 Jobs Created 419
Jobs Retained 122
Jobs Retained 788
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Administrative, Support, Waste Management,
5 Professional, Scientific, & Technical Services 15
& Remediation Services
Information 5 Health Care and Social Assistance 13
Professional, Scientific, & Technical Services 5 Manufacturing 12
TOP 3 INDUSTRIES BY DOLLAR AMOUNT TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Professional, Scientific, & Technical Services $1,664,838
Manufacturing $27,748,082
Construction $665,000
Professional, Scientific, & Technical Services $21,133,009
Information $510,000
Information $9,508,000
SSBCI Annual Report 2022-2023 47
Maryland Massachusetts
Allocation Amount: $201,705,239 Allocation Amount: $168,591,178
Number of Loans/Investments 34 Number of Loans/Investments 31
SSBCI Original Allocated Funds Expended $21,187,081 SSBCI Original Allocated Funds Expended $24,968,234
SSBCI Recycled Funds Expended $0 SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $140,264,165 Total New Financing to Small Businesses $95,319,394
TRANSACTION SIZE: TRANSACTION SIZE:
Median Principal Loan/Investment Size $2,625,000 Median Principal Loan/Investment Size $1,515,400
Minimum Principal Loan/Investment Size $200,000 Minimum Principal Loan/Investment Size $75,000
Maximum Principal Loan/Investment Size $20,000,000 Maximum Principal Loan/Investment Size $12,849,999
CHARACTERISTICS AND DEMOGRAPHICS: CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 76.5% SEDI (by Number of Transactions) 87.1%
VSB (by Number of Transactions) 64.7% VSB (by Number of Transactions) 29.0%
Minority Owned (by Number of Transactions) 44.1% Minority Owned (by Number of Transactions) 16.1%
Women Owned (by Number of Transactions) 38.2% Women Owned (by Number of Transactions) 25.8%
Veteran Owned (by Number of Transactions) 5.9% Veteran Owned (by Number of Transactions) 3.2%
Rural Area (by Number of Transactions) 0.0%
Rural Area (by Number of Transactions) 0.0%
BUSINESS AGE AND SIZE
BUSINESS AGE AND SIZE
Median Business Age at Loan/Investment 4
Median Business Age at Loan/Investment 6
Median Business Size (FTEs) 12
Median Business Size (FTEs) 8
Median Business Size (Annual Revenue) $672,238
Median Business Size (Annual Revenue) $422,530
Total Number of Jobs Expected Created or
Total Number of Jobs Expected Created or 873
1,405 Retained
Retained
Jobs Created 486
Jobs Created 769
Jobs Retained 387
Jobs Retained 636
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS Manufacturing 10
Professional, Scientific, & Technical Services 13 Professional, Scientific, & Technical Services 8
Manufacturing 11 Retail Trade 3
Information 3 TOP 3 INDUSTRIES BY DOLLAR AMOUNT
TOP 3 INDUSTRIES BY DOLLAR AMOUNT Professional, Scientific, & Technical Services $51,589,999
Manufacturing $71,381,165 Manufacturing $19,460,400
Professional, Scientific, & Technical Services $52,300,000 Transportation and Warehousing $12,000,000
Information $11,900,000
48 SSBCI Annual Report 2022-2023
Michigan Minnesota
Allocation Amount: $98,984,917
Allocation Amount: $242,281,310
Number of Loans/Investments 47
Number of Loans/Investments 364
SSBCI Original Allocated Funds Expended $5,501,707
SSBCI Original Allocated Funds Expended $27,023,289
SSBCI Recycled Funds Expended $0
SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $53,542,540
Total New Financing to Small Businesses $93,756,598
TRANSACTION SIZE:
TRANSACTION SIZE:
Median Principal Loan/Investment Size $365,000
Median Principal Loan/Investment Size $68,595
Minimum Principal Loan/Investment Size $70,000
Minimum Principal Loan/Investment Size $1,000
Maximum Principal Loan/Investment Size $12,803,996
Maximum Principal Loan/Investment Size $12,500,000
CHARACTERISTICS AND DEMOGRAPHICS:
CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 66.0%
SEDI (by Number of Transactions) 63.2%
VSB (by Number of Transactions) 63.8%
VSB (by Number of Transactions) 84.9%
Minority Owned (by Number of Transactions) 23.4%
Minority Owned (by Number of Transactions) 26.9%
Women Owned (by Number of Transactions) 23.4%
Women Owned (by Number of Transactions) 34.1%
Veteran Owned (by Number of Transactions) 2.1%
Veteran Owned (by Number of Transactions) 4.4%
Rural Area (by Number of Transactions) 14.9%
Rural Area (by Number of Transactions) 18.4%
BUSINESS AGE AND SIZE
BUSINESS AGE AND SIZE
Median Business Age at Loan/Investment 5
Median Business Age at Loan/Investment 1
Median Business Size (FTEs) 5
Median Business Size (FTEs) 2
Median Business Size (Annual Revenue) $174,155
Median Business Size (Annual Revenue) $85,287
Total Number of Jobs Expected Created or
555
Total Number of Jobs Expected Created or Retained
2,837
Retained
Jobs Created 479
Jobs Created 1,123
Jobs Retained 76
Jobs Retained 1,714
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Manufacturing 24
Retail Trade 50
Accommodation and Food Services 8
Accommodation and Food Services 49
Professional, Scientific, & Technical Services 5
Manufacturing 37
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Manufacturing $25,153,351
Manufacturing $30,858,592
Finance and Insurance $5,999,993
Wholesale Trade $17,050,058
Accommodation and Food Services $3,437,277
Other Services (except Public Administration) $7,276,594
SSBCI Annual Report 2022-2023 49
Missouri Montana
Allocation Amount: $97,793,466 Allocation Amount: $61,327,969
Number of Loans/Investments 8 Number of Loans/Investments 62
SSBCI Original Allocated Funds Expended $2,325,000 SSBCI Original Allocated Funds Expended $28,433,807
SSBCI Recycled Funds Expended $0 SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $105,369,728
Total New Financing to Small Businesses $8,474,992
TRANSACTION SIZE:
TRANSACTION SIZE:
Median Principal Loan/Investment Size $449,499
Median Principal Loan/Investment Size $1,037,500
Minimum Principal Loan/Investment Size $3,000
Minimum Principal Loan/Investment Size $200,000
Maximum Principal Loan/Investment Size $12,423,750
Maximum Principal Loan/Investment Size $1,800,000
CHARACTERISTICS AND DEMOGRAPHICS:
CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 77.4%
SEDI (by Number of Transactions) 37.5%
VSB (by Number of Transactions) 66.1%
VSB (by Number of Transactions) 62.5%
Minority Owned (by Number of Transactions) 3.2%
BUSINESS AGE AND SIZE Women Owned (by Number of Transactions) 30.7%
Median Business Age at Loan/Investment 3 Veteran Owned (by Number of Transactions) 3.2%
Median Business Size (FTEs) 6 Rural Area (by Number of Transactions) 30.7%
Median Business Size (Annual Revenue) $360,492 BUSINESS AGE AND SIZE
Total Number of Jobs Expected Created or Median Business Age at Loan/Investment 7
100
Retained Median Business Size (FTEs) 5
Jobs Created 87 Median Business Size (Annual Revenue) $671,941
Jobs Retained 13 Total Number of Jobs Expected Created or Re-
891
tained
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Jobs Created 369
Professional, Scientific, & Technical Services 4
Jobs Retained 522
Information 2 TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Administrative, Support, Waste Management, Retail Trade 10
1
& Remediation Services
Accommodation and Food Services 9
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Construction 9
Professional, Scientific, & Technical Services $2,849,992
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Information $2,800,000 Retail Trade $19,048,250
Manufacturing $1,750,000 Real Estate and Rental and Leasing $10,229,000
Accommodation and Food Services $8,732,902
50 SSBCI Annual Report 2022-2023
Nebraska Nevada
Allocation Amount: $64,928,233 Allocation Amount: $115,000,756
Number of Loans/Investments 17 Number of Loans/Investments 31
SSBCI Original Allocated Funds Expended $4,932,500 SSBCI Original Allocated Funds Expended $5,187,697
SSBCI Recycled Funds Expended $0
SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $17,440,652
Total New Financing to Small Businesses $15,147,482
TRANSACTION SIZE:
TRANSACTION SIZE:
Median Principal Loan/Investment Size $500,000
Median Principal Loan/Investment Size $200,000
Minimum Principal Loan/Investment Size $25,000
Minimum Principal Loan/Investment Size $20,000
Maximum Principal Loan/Investment Size $5,500,000
Maximum Principal Loan/Investment Size $4,920,500
CHARACTERISTICS AND DEMOGRAPHICS:
CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 88.2%
SEDI (by Number of Transactions) 71.0%
VSB (by Number of Transactions) 88.2%
VSB (by Number of Transactions) 77.4%
Minority Owned (by Number of Transactions) 41.2%
Minority Owned (by Number of Transactions) 19.4%
Women Owned (by Number of Transactions) 41.2%
Women Owned (by Number of Transactions) 9.7%
Veteran Owned (by Number of Transactions) 0.0%
Veteran Owned (by Number of Transactions) 19.4%
Rural Area (by Number of Transactions) 23.5%
Rural Area (by Number of Transactions) 0.0%
BUSINESS AGE AND SIZE
BUSINESS AGE AND SIZE
Median Business Age at Loan/Investment 4
Median Business Age at Loan/Investment 2
Median Business Size (FTEs) 2
Median Business Size (FTEs) 4
Median Business Size (Annual Revenue) $90,000
Median Business Size (Annual Revenue) $28,052
Total Number of Jobs Expected Created or
272 Total Number of Jobs Expected Created or
Retained 665
Retained
Jobs Created 119
Jobs Created 332
Jobs Retained 153
Jobs Retained 333
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Manufacturing 4
Professional, Scientific, & Technical Services 10
Information 2
Information 7
Retail Trade 2
Manufacturing 6
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Retail Trade $5,550,000
Construction $6,170,500
Manufacturing $3,341,350
Professional, Scientific, & Technical Services $3,867,000
Wholesale Trade $2,000,000
Manufacturing $2,950,000
SSBCI Annual Report 2022-2023 51
New New
Hampshire Jersey
Allocation Amount: $62,225,214 Allocation Amount: $259,525,572
Number of Loans/Investments 32 Number of Loans/Investments 3
SSBCI Original Allocated Funds Expended $30,077,425 SSBCI Original Allocated Funds Expended $1,462,500
SSBCI Recycled Funds Expended $0 SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $97,563,706 Total New Financing to Small Businesses $3,246,979
TRANSACTION SIZE: TRANSACTION SIZE:
Median Principal Loan/Investment Size $1,164,300 Median Principal Loan/Investment Size $1,037,000
Minimum Principal Loan/Investment Size $80,000 Minimum Principal Loan/Investment Size $925,000
Maximum Principal Loan/Investment Size $12,894,727 Maximum Principal Loan/Investment Size $1,284,979
CHARACTERISTICS AND DEMOGRAPHICS: CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 62.5% SEDI (by Number of Transactions) 33.3%
VSB (by Number of Transactions) 43.8% VSB (by Number of Transactions) 33.3%
Minority Owned (by Number of Transactions) 0.0% BUSINESS AGE AND SIZE
Women Owned (by Number of Transactions) 18.8% Median Business Age at Loan/Investment 3
Veteran Owned (by Number of Transactions) 3.1% Median Business Size (FTEs) 12
Rural Area (by Number of Transactions) 3.1% Median Business Size (Annual Revenue) $242,585
BUSINESS AGE AND SIZE Total Number of Jobs Expected Created or
25
Retained
Median Business Age at Loan/Investment 1
Jobs Created 10
Median Business Size (FTEs) 11
Jobs Retained 15
Median Business Size (Annual Revenue) $0
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Total Number of Jobs Expected Created or
672 Information 3
Retained
Jobs Created 109 TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Jobs Retained 563 Information $3,246,979
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Real Estate and Rental and Leasing 18
Accommodation and Food Services 3
Other Services (not Public Administration) 3
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Real Estate and Rental and Leasing $52,959,018
Arts, Entertainment, and Recreation $7,000,000
Accommodation and Food Services $4,237,650
52 SSBCI Annual Report 2022-2023
New New York
Mexico
Allocation Amount: $512,499,573
Allocation Amount: $76,096,082 Number of Loans/Investments 446
Number of Loans/Investments 24 SSBCI Original Allocated Funds Expended $18,759,153
SSBCI Original Allocated Funds Expended $3,232,529 SSBCI Recycled Funds Expended $0
SSBCI Recycled Funds Expended $0 Total New Financing to Small Businesses $82,267,134
Total New Financing to Small Businesses $16,687,908 TRANSACTION SIZE:
TRANSACTION SIZE: Median Principal Loan/Investment Size $48,327
Median Principal Loan/Investment Size $305,250 Minimum Principal Loan/Investment Size $1,000
Minimum Principal Loan/Investment Size $19,018 Maximum Principal Loan/Investment Size $8,700,000
Maximum Principal Loan/Investment Size $2,000,000 CHARACTERISTICS AND DEMOGRAPHICS:
CHARACTERISTICS AND DEMOGRAPHICS: SEDI (by Number of Transactions) 85.0%
SEDI (by Number of Transactions) 75.0% VSB (by Number of Transactions) 92.8%
VSB (by Number of Transactions) 75.0% Minority Owned (by Number of Transactions) 26.8%
Minority Owned (by Number of Transactions) 50.0% Women Owned (by Number of Transactions) 32.2%
Women Owned (by Number of Transactions) 50.0% Veteran Owned (by Number of Transactions) 1.6%
Veteran Owned (by Number of Transactions) 0.0%
Rural Area (by Number of Transactions) 1.8%
Rural Area (by Number of Transactions) 29.2% BUSINESS AGE AND SIZE
BUSINESS AGE AND SIZE Median Business Age at Loan/Investment 6
Median Business Age at Loan/Investment 4 Median Business Size (FTEs) 2
Median Business Size (FTEs) 3 Median Business Size (Annual Revenue) $150,480
Median Business Size (Annual Revenue) $138,000 Total Number of Jobs Expected Created or
2,304
Retained
Total Number of Jobs Expected Created or
410 Jobs Created 663
Retained
Jobs Created 251 Jobs Retained 1,641
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Jobs Retained 159
Transportation and Warehousing 84
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Retail Trade 78
Health Care and Social Assistance 5
Professional, Scientific, & Technical Services 71
Manufacturing 4
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Other Services (not Public Administration) 4 Professional, Scientific, & Technical Services $33,965,130
TOP 3 INDUSTRIES BY DOLLAR AMOUNT Construction $15,190,650
Manufacturing $2,635,000 Administrative, Support, Waste Management
$8,191,780
& Remediation Services
Health Care and Social Assistance $2,566,040
Accommodation and Food Services $1,877,500
SSBCI Annual Report 2022-2023 53
North North
Carolina Dakota
Allocation Amount: $208,105,836
Allocation Amount: $59,213,986
Number of Loans/Investments 178
Number of Loans/Investments 18
SSBCI Original Allocated Funds Expended $31,309,032
SSBCI Original Allocated Funds Expended $12,430,010
SSBCI Recycled Funds Expended $0
SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $232,614,233
Total New Financing to Small Businesses $30,862,509
TRANSACTION SIZE:
TRANSACTION SIZE:
Median Principal Loan/Investment Size $702,563
Median Principal Loan/Investment Size $500,000
Minimum Principal Loan/Investment Size $112,000
Minimum Principal Loan/Investment Size $130,000
Maximum Principal Loan/Investment Size $7,600,000 Maximum Principal Loan/Investment Size $6,790,000
CHARACTERISTICS AND DEMOGRAPHICS:
CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 38.9%
SEDI (by Number of Transactions) 80.0%
VSB (by Number of Transactions) 61.1%
VSB (by Number of Transactions) 62.8%
Minority Owned (by Number of Transac-
11.1%
Minority Owned (by Number of Transactions) 23.9% tions)
Women Owned (by Number of Transactions) 14.4% Women Owned (by Number of Transactions) 5.6%
Veteran Owned (by Number of Transactions) 7.8% Veteran Owned (by Number of Transactions) 5.6%
Rural Area (by Number of Transactions) 24.2% Rural Area (by Number of Transactions) 0.0%
BUSINESS AGE AND SIZE BUSINESS AGE AND SIZE
Median Business Age at Loan/Investment 7 Median Business Age at Loan/Investment 6
Median Business Size (FTEs) 7 Median Business Size (FTEs) 7
Median Business Size (Annual Revenue) $957,915 Median Business Size (Annual Revenue) $81,168
Total Number of Jobs Expected Created or Total Number of Jobs Expected Created or
2,650 419
Retained Retained
Jobs Created 1,233 Jobs Created 377
Jobs Retained 1,417 Jobs Retained 42
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Health Care and Social Assistance 36 Professional, Scientific, & Technical Services 8
Other Services (except Public Administra- Information 5
23
tion)
Manufacturing 2
Real Estate and Rental and Leasing 20
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Professional, Scientific, & Technical Services $17,050,010
Health Care and Social Assistance $39,461,609
Accommodation and Food Services $6,790,000
Other Services (except Public Administration) $35,621,750
Information $4,200,000
Accommodation and Food Services $26,651,700
54 SSBCI Annual Report 2022-2023
Ohio Oklahoma
Allocation Amount: $187,597,455 Allocation Amount: $83,721,435
Number of Loans/Investments 77 Number of Loans/Investments 22
SSBCI Original Allocated Funds Expended $3,792,671 SSBCI Original Allocated Funds Expended $9,878,893
SSBCI Recycled Funds Expended $0 SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $13,823,096 Total New Financing to Small Businesses $59,018,985
TRANSACTION SIZE: TRANSACTION SIZE:
Median Principal Loan/Investment Size $41,850 Median Principal Loan/Investment Size $705,225
Minimum Principal Loan/Investment Size $15,350 Minimum Principal Loan/Investment Size $100,000
Maximum Principal Loan/Investment Size $2,000,000 Maximum Principal Loan/Investment Size $7,500,000
CHARACTERISTICS AND DEMOGRAPHICS: CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 96.1% SEDI (by Number of Transactions) 63.6%
VSB (by Number of Transactions) 92.2% VSB (by Number of Transactions) 63.6%
Minority Owned (by Number of Transac- Minority Owned (by Number of Transac-
49.4% 13.6%
tions) tions)
Women Owned (by Number of Transac- Women Owned (by Number of Transac-
45.5% 18.2%
tions) tions)
Veteran Owned (by Number of Transac- Veteran Owned (by Number of Transac-
9.1% 0.0%
tions) tions)
Rural Area (by Number of Transactions) 2.6% Rural Area (by Number of Transactions) 0.0%
BUSINESS AGE AND SIZE BUSINESS AGE AND SIZE
Median Business Age at Loan/Investment 2 Median Business Age at Loan/Investment 2
Median Business Size (FTEs) 1 Median Business Size (FTEs) 5
Median Business Size (Annual Revenue) $16,000 Median Business Size (Annual Revenue) $80,104
Total Number of Jobs Expected Created or Total Number of Jobs Expected Created or
722 1,171
Retained Retained
Jobs Created 378 Jobs Created 721
Jobs Retained 344 Jobs Retained 450
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Retail Trade 13 Professional, Scientific, & Technical
8
Services
Arts, Entertainment, and Recreation 12
Manufacturing 6
Transportation and Warehousing 11
Health Care and Social Assistance 5
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Real Estate and Rental and Leasing $3,497,400
Professional, Scientific, & Technical
Arts, Entertainment, and Recreation $2,609,029 $12,150,000
Services
Professional, Scientific, & Technical Health Care and Social Assistance $4,799,999
$2,091,950
Services
Manufacturing $2,649,954
SSBCI Annual Report 2022-2023 55
Oregon Pennsylvania
Allocation Amount: $85,697,200 Allocation Amount: $273,356,081
Number of Loans/Investments 5 Number of Loans/Investments 336
SSBCI Original Allocated Funds Expended $1,367,625 SSBCI Original Allocated Funds Expended $49,397,323
SSBCI Recycled Funds Expended $200,000 SSBCI Recycled Funds Expended $75,000
Total New Financing to Small Businesses $5,685,831 Total New Financing to Small Businesses $225,379,524
TRANSACTION SIZE: TRANSACTION SIZE:
Median Principal Loan/Investment Size $612,000 Median Principal Loan/Investment Size $230,985
Minimum Principal Loan/Investment Size $150,000 Minimum Principal Loan/Investment Size $10,000
Maximum Principal Loan/Investment Size $2,762,500 Maximum Principal Loan/Investment Size $20,000,000
CHARACTERISTICS AND DEMOGRAPHICS: CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 100.0% SEDI (by Number of Transactions) 76.2%
VSB (by Number of Transactions) 40.0% VSB (by Number of Transactions) 75.6%
BUSINESS AGE AND SIZE Minority Owned (by Number of Transactions) 36.6%
Median Business Age at Loan/Investment 2 Women Owned (by Number of Transactions) 29.8%
Median Business Size (FTEs) 10 Veteran Owned (by Number of Transactions) 3.6%
Median Business Size (Annual Revenue) $0 Rural Area (by Number of Transactions) 4.5%
Total Number of Jobs Expected Created or BUSINESS AGE AND SIZE
48
Retained
Median Business Age at Loan/Investment 5
Jobs Created 38
Jobs Retained 10 Median Business Size (FTEs) 4
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS Median Business Size (Annual Revenue) $184,325
Construction 1 Total Number of Jobs Expected Created or
3,554
Retained
Agriculture, Forestry, Fishing & Hunting 1
Jobs Created 1,672
Retail Trade 1
Jobs Retained 1,882
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Construction $2,762,500 TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Agriculture, Forestry, Fishing & Hunting $750,000 Manufacturing 54
Retail Trade $612,000 Accommodation and Food Services 51
Professional, Scientific, & Technical Services 49
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Manufacturing $46,437,906
Professional, Scientific, & Technical Services $45,882,729
Wholesale Trade $31,450,000
56 SSBCI Annual Report 2022-2023
Rhode Island South
Carolina
Allocation Amount: $62,499,943
Number of Loans/Investments 10 Allocation Amount: $104,445,552
SSBCI Original Allocated Funds Expended $1,593,050 Number of Loans/Investments 67
SSBCI Recycled Funds Expended $0 SSBCI Original Allocated Funds Expended $16,539,436
Total New Financing to Small Businesses $3,561,000 SSBCI Recycled Funds Expended $0
TRANSACTION SIZE: Total New Financing to Small Businesses $81,168,150
Median Principal Loan/Investment Size $362,500 TRANSACTION SIZE:
Minimum Principal Loan/Investment Size $50,000 Median Principal Loan/Investment Size $937,000
Maximum Principal Loan/Investment Size $700,000 Minimum Principal Loan/Investment Size $94,500
CHARACTERISTICS AND DEMOGRAPHICS: Maximum Principal Loan/Investment Size $3,870,000
SEDI (by Number of Transactions) 60.0% CHARACTERISTICS AND DEMOGRAPHICS:
VSB (by Number of Transactions) 90.0% SEDI (by Number of Transactions) 100.0%
Minority Owned (by Number of Transac- VSB (by Number of Transactions) 55.2%
20.0%
tions)
Minority Owned (by Number of Transac-
23.9%
Women Owned (by Number of Transactions) 20.0% tions)
Veteran Owned (by Number of Transac- Women Owned (by Number of Transactions) 47.8%
0.0%
tions)
Veteran Owned (by Number of Transac-
9.0%
Rural Area (by Number of Transactions) 0.0% tions)
BUSINESS AGE AND SIZE Rural Area (by Number of Transactions) 1.5%
Median Business Age at Loan/Investment 2 BUSINESS AGE AND SIZE
Median Business Size (FTEs) 5 Median Business Age at Loan/Investment 7
Median Business Size (Annual Revenue) $251,290 Median Business Size (FTEs) 8
Total Number of Jobs Expected Created or Median Business Size (Annual Revenue) $1,492,512
88
Retained
Total Number of Jobs Expected Created or
1,136
Jobs Created 23 Retained
Jobs Retained 65 Jobs Created 326
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS Jobs Retained 810
Accommodation and Food Services 2 TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Health Care and Social Assistance 2 Health Care and Social Assistance 13
Arts, Entertainment, & Recreation 1 Professional, Scientific, & Technical Ser-
13
vices
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Other Services (except Public Administra-
10
Accommodation and Food Services $809,000 tion)
Information $700,000 TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Other Services (except Public Administra- Health Care and Social Assistance $13,962,392
$700,000
tion)
Professional, Scientific, & Technical Ser-
$11,748,087
vices
Other Services (except Public Administra-
$11,106,750
tion)
SSBCI Annual Report 2022-2023 57
South Tennessee
Dakota
Allocation Amount: $120,778,541
Allocation Amount: $60,671,996 Number of Loans/Investments 5
Number of Loans/Investments 6 SSBCI Original Allocated Funds Expended $698,250
SSBCI Original Allocated Funds Expended $910,375 SSBCI Recycled Funds Expended $0
SSBCI Recycled Funds Expended $0 Total New Financing to Small Businesses $3,716,500
Total New Financing to Small Businesses $4,555,321 TRANSACTION SIZE:
TRANSACTION SIZE: Median Principal Loan/Investment Size $297,500
Median Principal Loan/Investment Size $564,000 Minimum Principal Loan/Investment Size $149,000
Minimum Principal Loan/Investment Size $155,000 Maximum Principal Loan/Investment Size $2,500,000
Maximum Principal Loan/Investment Size $1,750,000 CHARACTERISTICS AND DEMOGRAPHICS:
CHARACTERISTICS AND DEMOGRAPHICS: SEDI (by Number of Transactions) 100.0%
SEDI (by Number of Transactions) 33.3% VSB (by Number of Transactions) 100.0%
VSB (by Number of Transactions) 83.3% BUSINESS AGE AND SIZE
BUSINESS AGE AND SIZE Median Business Age at Loan/Investment 2
Median Business Age at Loan/Investment 4 Median Business Size (FTEs) 6
Median Business Size (FTEs) 5 Median Business Size (Annual Revenue) $55,000
Median Business Size (Annual Revenue) $617,661 Total Number of Jobs Expected Created or
29
Retained
Total Number of Jobs Expected Created or
28 Jobs Created 4
Retained
Jobs Created 28 Jobs Retained 25
Jobs Retained 0 TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS Other Services (except Public Administration) 2
Accommodation and Food Services 2 Professional, Scientific, & Technical Services 2
Agriculture, Forestry, Fishing & Hunting 1 Information 1
Construction 1 TOP 3 INDUSTRIES BY DOLLAR AMOUNT
TOP 3 INDUSTRIES BY DOLLAR AMOUNT Information $2,500,000
Agriculture, Forestry, Fishing & Hunting $1,750,000 Professional, Scientific, & Technical Services $520,000
Accommodation and Food Services $806,745 Other Services (except Public Administration) $446,500
Other Services (except Public Administration) $585,294
58 SSBCI Annual Report 2022-2023
Vermont Virginia
Allocation Amount: $58,474,796 Allocation Amount: $234,569,759
Number of Loans/Investments 95 Number of Loans/Investments 47
SSBCI Original Allocated Funds Expended $18,310,279 SSBCI Original Allocated Funds Expended $9,810,568
SSBCI Recycled Funds Expended $0 SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $103,746,416 Total New Financing to Small Businesses $39,191,239
TRANSACTION SIZE: TRANSACTION SIZE:
Median Principal Loan/Investment Size $317,700 Median Principal Loan/Investment Size $395,000
Minimum Principal Loan/Investment Size $10,000 Minimum Principal Loan/Investment Size $147,500
Maximum Principal Loan/Investment Size $13,511,751 Maximum Principal Loan/Investment Size $3,636,994
CHARACTERISTICS AND DEMOGRAPHICS: CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 63.2% SEDI (by Number of Transactions) 51.1%
VSB (by Number of Transactions) 87.4% VSB (by Number of Transactions) 74.5%
Minority Owned (by Number of Transactions) 11.6% Minority Owned (by Number of Transactions) 23.9%
Women Owned (by Number of Transactions) 16.8% Women Owned (by Number of Transactions) 17.4%
Veteran Owned (by Number of Transactions) 5.3% Veteran Owned (by Number of Transactions) 2.2%
Rural Area (by Number of Transactions) 30.5% Rural Area (by Number of Transactions) 0.0%
BUSINESS AGE AND SIZE BUSINESS AGE AND SIZE
Median Business Age at Loan/Investment 11 Median Business Age at Loan/Investment 5
Median Business Size (FTEs) 2 Median Business Size (FTEs) 5
Median Business Size (Annual Revenue) $474,000 Median Business Size (Annual Revenue) $166,492
Total Number of Jobs Expected Created or Total Number of Jobs Expected Created or
480 1,207
Retained Retained
Jobs Created 440 Jobs Created 612
Jobs Retained 40 Jobs Retained 595
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Agriculture, Forestry, Fishing & Hunting 44 Professional, Scientific, & Technical Services 21
Accommodation and Food Services 16 Manufacturing 11
Manufacturing 9 Information 9
TOP 3 INDUSTRIES BY DOLLAR AMOUNT TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Accommodation and Food Services $44,778,050 Professional, Scientific, & Technical Services $18,519,677
Utilities $13,725,051 Manufacturing $7,238,696
Agriculture, Forestry, Fishing & Hunting $10,921,375 Information $3,577,875
SSBCI Annual Report 2022-2023 59
West Wyoming
Virginia
Allocation Amount: $58,426,481
Allocation Amount: $73,556,350
Number of Loans/Investments 6
Number of Loans/Investments 24
SSBCI Original Allocated Funds Expended $9,016,668
SSBCI Original Allocated Funds Expended $6,182,679
SSBCI Recycled Funds Expended $0
SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $43,230,626
Total New Financing to Small Businesses $25,694,530
TRANSACTION SIZE:
TRANSACTION SIZE:
Median Principal Loan/Investment Size $6,883,989
Median Principal Loan/Investment Size $410,990
Minimum Principal Loan/Investment Size $740,000
Minimum Principal Loan/Investment Size $102,750
Maximum Principal Loan/Investment Size $14,999,999
Maximum Principal Loan/Investment Size $3,350,400
CHARACTERISTICS AND DEMOGRAPHICS:
CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 50.0%
SEDI (by Number of Transactions) 75.0%
VSB (by Number of Transactions) 33.3%
VSB (by Number of Transactions) 79.2%
BUSINESS AGE AND SIZE
Minority Owned (by Number of Transactions) 4.2%
Median Business Age at Loan/Investment 3
Women Owned (by Number of Transactions) 29.2%
Median Business Size (FTEs) 14
Veteran Owned (by Number of Transactions) 8.3% Median Business Size (Annual Revenue) $268,318
Rural Area (by Number of Transactions) 0.0% Total Number of Jobs Expected Created or
149
Retained
BUSINESS AGE AND SIZE
Jobs Created 149
Median Business Age at Loan/Investment 2
Jobs Retained 0
Median Business Size (FTEs) 2
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Median Business Size (Annual Revenue) $69,157
Information 3
Total Number of Jobs Expected Created or
422 Administrative, Support, Waste Management,
Retained 1
& Remediation Services
Jobs Created 112
Finance and Insurance 1
Jobs Retained 310
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Information $20,990,642
Manufacturing 6
Administrative, Support, Waste Management,
$14,999,999
Retail Trade 4 & Remediation Services
Accommodation and Food Services 3 Finance and Insurance $6,499,985
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Manufacturing $3,350,400
Wholesale Trade $5,750,400
Administrative, support, Waste Management,
$2,400,000
Remediation Services
60 SSBCI Annual Report 2022-2023
Guam Puerto Rico
Allocation Amount: $109,373,069
Allocation Amount: $59,243,899
Number of Loans/Investments 13
Number of Loans/Investments 6
SSBCI Original Allocated Funds Expended $4,592,727
SSBCI Original Allocated Funds Expended $329,032
SSBCI Recycled Funds Expended $0
SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $1,645,160 Total New Financing to Small Businesses $9,533,449
TRANSACTION SIZE: TRANSACTION SIZE:
Median Principal Loan/Investment Size $187,500 Median Principal Loan/Investment Size $350,000
Minimum Principal Loan/Investment Size $100,000 Minimum Principal Loan/Investment Size $21,000
Maximum Principal Loan/Investment Size $3,850,000
Maximum Principal Loan/Investment Size $700,000
CHARACTERISTICS AND DEMOGRAPHICS:
CHARACTERISTICS AND DEMOGRAPHICS: SEDI (by Number of Transactions) 100.0%
SEDI (by Number of Transactions) 100.0% VSB (by Number of Transactions) 57.1%
VSB (by Number of Transactions) 66.7% Minority Owned (by Number of Transactions) 0.0%
BUSINESS AGE AND SIZE Women Owned (by Number of Transactions) 28.6%
Median Business Age at Loan/Investment 4 Veteran Owned (by Number of Transactions) 0.0%
Rural Area (by Number of Transactions) 0.0%
Median Business Size (FTEs) 2
Median Business Size (Annual Revenue) $402,638 BUSINESS AGE AND SIZE
Total Number of Jobs Expected Created or Median Business Age at Loan/Investment 3
86
Retained
Median Business Size (FTEs) 7
Jobs Created 37
Median Business Size (Annual Revenue) $403,197
Jobs Retained 49
Total Number of Jobs Expected Created or
TOP 3 INDUSTRIES BY NUMBER OF TRANSAC- 960
Retained
TIONS
Jobs Created 410
Construction 1
Administrative, Support, Waste Management, Jobs Retained 550
1
Remediation Services
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Arts, Entertainment, & Recreation 1
Accommodation and Food Services 3
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Construction 3
Construction $700,000
Professional, Scientific, & Technical Services 2
Administrative, Support, Waste Management,
$320,160
& Remediation Services TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Arts, Entertainment, & Recreation $225,000
Manufacturing $3,918,000
Construction $2,600,000
Accommodation and Food Services $1,696,920
SSBCI Annual Report 2022-2023 61
United States
Virgin Islands
Allocation Amount: $57,860,549
Number of Loans/Investments 2
SSBCI Original Allocated Funds Expended $493,250
SSBCI Recycled Funds Expended $0
Total New Financing to Small Businesses $910,000
TRANSACTION SIZE:
Median Principal Loan/Investment Size $455,000
Minimum Principal Loan/Investment Size $400,000
Maximum Principal Loan/Investment Size $510,000
CHARACTERISTICS AND DEMOGRAPHICS:
SEDI (by Number of Transactions) 100.0%
VSB (by Number of Transactions) 50.0%
BUSINESS AGE AND SIZE
Median Business Age at Loan/Investment 3
Median Business Size (FTEs) 7
Median Business Size (Annual Revenue) $403,197
Total Number of Jobs Expected Created or
960
Retained
Jobs Created 410
Jobs Retained 550
TOP 3 INDUSTRIES BY NUMBER OF TRANSACTIONS
Accommodation and Food Services 3
Construction 3
Professional, Scientific, & Technical Services 2
TOP 3 INDUSTRIES BY DOLLAR AMOUNT
Manufacturing $3,918,000
Construction $2,600,000
Accommodation and Food Services $1,696,920
62 SSBCI Annual Report 2022-2023
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