Dear USET/USET SPF Family,
The U.S. Department of the Treasury will be hosting two Tribal Leader events this week on the Small Business Credit Initiative (SBCI) program. Last week, on Friday May 21, 2021, Treasury also announced a Request for Information on the SBCI program, which included several questions for Tribal Nations.
ARPA authorized $10 billion for the SBCI program for Fiscal Year 2021 and Treasury will be allocating $500 million in SBCI funding directly to Tribal Nations to support financing for small businesses. The funding will support financing for small businesses in Indian Country. Small business financing programs that SBCI funds may be used to support capital access programs, loan participation, loan guarantee, collateral support, and venture equity programs.
The deadline for Tribal Nations to submit a Notice of Intent (NOI) to apply for the SBCI program is June 11, 2021, and applications for the SBCI program will be due to Treasury on December 11, 2021. To view and complete the NOI Form for Tribal Governments, please click here.
Details on the two Treasury Tribal Leader events and the Request for Information on the SBCI program are provided below.
Treasury Tribal Leader Briefing on the SBCI Program
Treasury will be hosting a briefing with Tribal Leaders located in the Bureau of Indian Affairs (BIA) Eastern Region on the American Rescue Plan Act (ARPA) and the the SBCI program.
Information on this Treasury Briefing for Tribal Nations located in the BIA Eastern Region is as follows--
Treasury National Tribal Consultation on the SBCI Program
Treasury is also hosting a national Tribal consultation on the SBCI program, details included below--
Treasury Announces Notice and Request for Information on SBCI Program
On Friday, May 21, 2021 a Notice and Request for Information on the Small Business Credit Initiative was published by Treasury in the Federal Register. Treasury has included a series of questions in its Request for Information, including if guidance specific to Tribal governments is needed and what specific issues such guidance should address, what data Treasury should use in its allocation calculation for Tribal Nation small businesses, reporting requirements, and technical assistance.
Comments on the Request for Information are also due by June 4, 2021 and must be submitted to regulations.gov under Docket No. TREAS-DO-2021-0009. For further information please contact Jeff Stout at (202) 622-2059, or email email@example.com.
Treasury previously held a national briefing session on the SBCI program on May 13, 2021. For more information on the SBCI program please view the Treasury SBCI Fact Sheet for Tribal Governments by clicking here.
For more information, please contact Brian Howard, USET SPF Senior Policy Analyst, at firstname.lastname@example.org.