State Small Business Credit Initiative (SSBCI) Program

WHAT IS IT?

The State of Vermont has designated VtSBDC as the Technical Assistance provider for the SSBCI program for the entire state of Vermont to deliver the program’s services.

SSBCI is a multi-year federal program administered by the U.S. Treasury, providing a combination of credit and investment programs for existing small businesses and start-ups. In addition, the program provides technical assistance for small businesses in the areas of legal, accounting, and finance advisory services, whether they are applying or not for SSBCI capital or other government funding programs.

SSBCI in a nutshell:

• Technical Assistance: legal, accounting, and finance advisory services (funded by the program)

• • Legal: Vermont Law and Graduate School is the program’s partner providing one-on-one education and advising on legal matters such as: business formation, governance, registrations, licenses, contracts, direct and convertible investments, venture capital investment, workers Co-op setups, among others.
  • Accounting: Business owners using Excel, QuickBooks, Wave, Xero, FreshBooks, or similar tools may require support to ensure their financial systems are properly configured, and their data is accurate and usable. VtSBDC will provide specialized guidance to help small business owners understand key financial reports, interpret their financial data, and engage more confidently with bookkeepers or accountants. Accounting assistance is delivered through live webinars, instructional materials, and one-on-one sessions with an area expert. These services are designed for both new and experienced users and support businesses preparing for growth, financing, or transition by improving financial clarity and readiness.
  • Finance: VtSBDC will deliver specialized advising in financial modeling and valuation, using client financial data entered into licensed tools such as Industrious CFO. This analysis helps businesses better understand performance, benchmark against industry standards, and strengthen capital readiness to support growth, financing, or transition planning.

• Capital Access Programs: debt and venture capital. VtSBDC does not provide funds or grants directly to businesses. Instead, we connect you to SSBCI capital providers.

WHO CAN APPLY?

The program is designed to assist small businesses under two categories:

Very Small Business (VSB): a business with fewer than 10 employees (includes independent contractors and sole proprietors)

Socially and Economically Disadvantaged Individuals (SEDI): a business owned and controlled by individuals who have had their access to credit diminished due to: (1) membership of a group that has been subjected to racial or ethnic prejudice or cultural bias within American society, (2) gender, (3) veteran status, (4) limited English proficiency, (5) disability, (6) long term residence in an environment isolated from the mainstream of American society, (7) membership of a federally or state recognized Indian Tribe, (8) long term residence in a rural community, (9) residence in a U.S. territory, (10) residence in a community undergoing economic transitions, or (11) membership of an underserved community.

HERE IS THE PROCESS:

1. Fill out and submit the eligibility/intake form using the button below
2. Our program advisor will reach out within 48 business hours to schedule a consultation
3. During the consultation, we will assess your business needs and suitability for the program services
4. If the business needs fit the program offerings, we will refer you to our partners or program advisor who will provide you with the needed legal, accounting, and finance advisory services