Maine received federal funding to support small business financing through the State Small Business Credit Initiative (SSBCI). This summary describes Iowa's debt and or equity programs including the organization that manages the funding and key private sector partners.
The U.S. Department of the Treasury’s SSBCI was created by the Small Business Jobs Act of 2010 to spur access to capital in the wake of the Great Recession. SSBCI gave states broad flexibility to design their own small business financing programs and select their own partners. In total, Treasury transferred $1.4 billion to state programs and 39 states allocated over $400 million to venture capital programs. Read more about SSBCI-funded venture capital programs in general here and about Maine’s program here.