Pennsylvania State Small Business Credit Initiative (PA-SSBCI)
If you are a small business applying for the PA-SSBCI program, visit the SSBCI Program Administrator landing page to find your local economic development organization to apply.
Overview
The Pennsylvania State Small Business Credit Initiative (PA-SSBCI) provides funding to economic development partners for the implementation and administration of capital programs to support small businesses through loans and equity investments:
- The Revolving Loan Fund component provides funding or capital to economic development organizations in the Commonwealth to create or recapitalize revolving loan funds (RLFs) to support financing for Pennsylvania small businesses. The revolving loan funds will be matched by private funding that will create lending and investments to small businesses that need additional support and resources to expand and create jobs.
- The Direct Venture Investment component provides funding or capital to economic development organizations in the Commonwealth to provide seed and later-stage capital for existing and emerging companies involved in the development and commercialization of technologically advanced products and processes.
Businesses will apply for funding through their local economic development organization.
Eligibility
The following economic development organizations are eligible to apply for the Revolving Loan Fund component:
- Certified Economic Development Organizations (CEDOs)
- Community Development Financing Institutions (CDFIs)
- Pennsylvania CDFI Network
The following economic development organizations are eligible to apply for the Direct Venture Investment component:
- Ben Franklin Technology Partners (BFTPs)
- Life Sciences Greenhouses (LSGs)
Funding
Pennsylvania has allocated $125,838,132 of funding to the Revolving Loan Fund component and $125,000,000 of funding to the Direct Venture Investment component.
How to Apply
Economic development organizations must submit the online Electronic Single Application (ESA) for assistance. Required supplemental information outlined in Appendix I of the program guidelines must be attached electronically to the application as directed on the Addenda tab.
Applications will be accepted between July 18, 2022 through August 19, 2022. All applications and required supplemental information must be electronically submitted by close of business on August 19, 2022.
Additional Information
Businesses will apply for funding through their local economic development organization. A list of approved economic development organizations will be posted once funding has been allocated to each organization.