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The U.S. Department of the Treasury has approved Texas' application for funding through the State Small Business Credit Initiative (SSBCI). Texas has the potential to receive more than $472 million to operate two programs—a capital access program (CAP) and a loan guarantee program (LGP)—that will increase access to capital for Texas small businesses. The CAP, allocated $118 million, will provide portfolio insurance for business loans, and the LGP, allocated $354.1 million, will provide loan guarantees. Together, the CAP and LGP will constitute the Texas Small Business Credit Initiative (TSBCI) program. TSBCI will assist small business growth and create new jobs through increased access to small business funding. In addition, the program will assist small businesses that are traditionally marginalized and those that have been impacted by the COVID-19 pandemic. TSBCI is administered by the Texas Economic Development & Tourism Office, within the Office of the Governor, on behalf of the U.S. Department of the Treasury. For more information about the federal SSBCI program, please visit the U.S. Department of the Treasury’s website. Additional guidance, forms and other resources related to Texas' TSBCI program will be posted at the program website as details become available. You may also sign up for updates to be notified as soon as our office has new information on the program.
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