SSBCI and your Employee-Owned Company
Did you know that if you have less than 500 employees, there are funds available from your state government to help you expand your employee-owned business? The American Rescue Plan Act of 2021 reauthorized and funded the State Small Business Credit Initiative (SSBCI 2.0) which provides a combined $10 billion to states, the District of Columbia, territories, and Tribal governments to empower businesses to access capital (via state-backed bank loans) needed to invest in job-creating opportunities as the country emerges from the COVID pandemic. Each state is responsible for creating the SSBCI 2.0 programs they will use to deploy the federal dollars it received. Authorized uses of the SSBCI 2.0 funding include the expansion of employee-owned companies and the purchase of existing businesses using all forms of employee ownership. This session will cover the general concepts of SSBCI and teach you how you can access funds from your state to grow your company and in turn create new employee-owners. The second half of this presentation will focus on sharing details of over 10 different state-level legislation initiatives that are in place or proposed that help create new employee-owned companies and expand current ones. Come find out if your state is one of the leaders in pro-employee ownership legislation and if not, learn how you can help be the driving force in creating legislation in your state.
Join us for this FREE community conversation with Steve Storkan of the Employee Ownership Expansion Network to learn more about how government program dollars can help grow your company and create new employee-owners.
About the Community Conversations
Community Conversations are free and open to our community and the general public and focus on timely employee ownership topics. These talks bring experts to the fore, connecting the employee ownership world more broadly while keeping our members, stakeholders, and other interested parties informed on important issues.