State Small Business Credit Initiative

The State Small Business Credit Initiative (SSBCI) is a $10 Billion, 10-year program launched in 2021 with the goal of fostering small business development by supporting existing (or creating new state pipelines of) accessible credit and capital investments. It represents a significant expansion of its namesake launched under the Obama administration. Making It Work for American Manufacturers is an analysis of the 2023 annual reporting data of participating States through the lens of how well funds are supporting small manufacturers. The analysis also reflects on the policy recommendations we expressed at the initiation of the program. We found that manufacturers were not being supported by this program in the ways or volume that we expected. In this report, we query why this might be while also highlighting those States and programs that are working well for manufacturers. We close with two broad recommendations - one aimed at SSBCI leadership and one at the State managers.