SSBCI Funding Awards Announced | CA Orgs Awarded CRP Funding

In this Must Know…

SSBCI Funding Awards Announced

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Last week, the Treasury Department announced the first awardees of two SSBCI-funded programs: the Minority Business Development Agency’s Capital Readiness Program (more on that below) and the Technical Assistance Grant Program, which totals $57 million so far for 12 states.

CalOSBA is approved for up to $25.3 million for the technical assistance program. This funding will be used to

oversee regionally-based legal, accounting, and financial advisory services to help small businesses apply for support from state and/or federal small business programs, and will also help connect companies directly with its SSBCI-supported capital programs.

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California Orgs Awarded CRP Funding

Eight California organizations were announced among the awardees of the MBDA’s Capital Readiness Program. These awardees will launch and operate business incubators or accelerators designed to prepare minority and other underserved entrepreneurs to secure capital from the $10 billion State Small Business Credit Initiative (SSBCI) and other capital sources.

One of the awardees is CAMEO member CalAsian Chamber of Commerce. Congrats!

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Summer School Next Week

Join next week’s session of our Climate + Small Biz Summer School series: Technical Assistance for Green Businesses on August 16, 2023 at 11:00 am PT.

Corona Maria from California Green Business Network and Amanda Anthony from Renaissance Entrepreneurship Center will talk to us about the resources that are out there that can make it easier for small businesses to participate in the climate economy.

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