Community Developments Investments (February 2013)
Because providing capital to entrepreneurs is a crucial part of the economy, the OCC encourages banks to learn more about how the State Small Business Credit Initiative can work for them.
The U.S. Department of the Treasury offers a State Small Business Credit Initiative Resource Center with information on each of the state programs, news and announcements, and other helpful resources.
The U.S. Department of the Treasury has compiled a list of State Programs Funded by the SSBCI (PDF).
The Office of the Comptroller of the Currency (OCC) offers a State Small Business Credit Initiative (SSBCI) Resource Directory that provides quick access to internal and external resources on the program.
The OCC, the other federal financial regulatory agencies, and the Conference of State Bank Supervisors have adopted a Policy Statement on Meeting the Credit Needs of Creditworthy Small Business Borrowers (PDF) reiterating policies and expectations for prudent lending.
Read a letter from John C. Lyons Jr., OCC Senior Deputy Comptroller and Chief National Bank Examiner, to Illinois Governor Pat Quinn concerning regulatory oversight of financial institutions using funding provided by the SSBCI.
An OCC FAQ page provides answers about regulatory issues concerning the SSBCI.
The OCC's District Community Affairs Officers can provide more information. They are working to help raise awareness of the SSBCI programs among lenders and they welcome hearing about new areas of outreach.
This publication is part of:
Collection: Community Developments Investments
Articles by non-OCC authors represent the authors' own views and not necessarily the views of the OCC.