Overview
Indiana was approved to receive up to $99 million in federal funding through the State Small Business Credit Initiative (SSBCI) to expand access to and increase working capital for Hoosier entrepreneurs, startups and small business owners. SSBCI, a program established in 2010, was reauthorized and funded through The American Rescue Plan Act in 2021.
Indiana is leveraging SSBCI to expand venture capital investments and create a new program to invest in small business loan funds throughout the state. At least 37 percent of this funding will be allocated to traditionally underserved small businesses and entrepreneurs, encouraging greater equity in access to capital.