We are live now with Quarles & Brady’s Pilar Thomas discussing the updates on the SSBCI program and application process. Click here to complete your registration which will provide you with the link to our call.
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When: Monday, November 22nd, 2021 from 1 pm – 2 pm
Where: Virtually via Zoom
Please join us as we discuss guidance recently released by the Treasury with Quarles & Brady’s Pilar Thomas and track important details pertaining to the State Small Business Credit Initiative and what is most applicable to Tribes.
From NCAI: Join the National Congress of American Indians (NCAI) and the Native American Financial Officers Association (NAFOA) and as they co-host the United States Department of Treasury (Treasury) for a series of webinars discussing the Tribal State Small Business Credit Initiative (Tribal SSBCI).
Each of the four sessions will address different topics related to Tribal SSBCI, allowing participants to receive in-depth information on the specific areas they deem most relevant. Each webinar will consist of presentations from Treasury and include ample time for questions. The four sessions will address the following:
Thursday, October 28, 2021 @ 11:00 a.m. PST: Indirect Credit Support: Loan Guarantee, Collateral Support, and Capital Access Programs (click here to register)
Tuesday, November 2, 2021 @ 8:30 a.m. PST: Direct Credit Support: Loan Participation, and Venture Capital Programs (click here to register)
Thursday, November 4, 2021 @ 8:30 a.m. PST: Partnering with CDFIs and Compliance (click here to register)
Join ATNI-EDC and Pilar Thomas on Monday 11/22 at 1pm PST to discuss the program and how the guidance impacts the Tribal application process.
Due date for Notice of Intent for Tribal Governments: December 11, 2021 (Click here to complete the NOI)
Dates pertaining to the application for Tribal Governments: Initiated by December 11, 2021, completed by February 11, 2022, due by March 31, 2022
EDA was allotted $3B through the American Rescue Plan Act. In July, EDA announced that $100M of that funding would be reserved for Indigenous communities through the Indigenous Communities Challenge. The Seattle Regional Office has been allocated $43.8M of that Indigenous Communities funding.
Tuesday, October 12th at 11am PST, there will be a webinar for Tribes in Washington to dive into this program in further detail. It will highlight some of the components in the NOFO that distinguish this program from our other EDA funding opportunities. It will also share information regarding EDA’s recent decision to expand its definition of Tribes to include for-profit entities that are wholly owned by and established exclusively for the benefit of a Tribe.
On September 24, 2021 EDA announced that it has updated its regulations to create greater opportunities for Native American Communities to participate in its grant programs. The new rule, which has been published in the Federal Register, extends EDA Tribal eligibility to include for-profit entities that are wholly owned by and established exclusively for the benefit of a Tribe. This comes as a result of EDA’s ongoing efforts to meet the needs of our Tribal communities and to increase their participation.
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