Opportunity Title:
State Small Business Credit Initiative Technical Assistance (SSBCI TA) for Capital Readiness Program 2023: Capital Readiness Coaches
Funder/Agency:
CA Governor's Office of Business and Economic Development
Opportunity Number:
Portal ID:50688
Description:
The SSBCI TA Program provides recipient jurisdictions funding for: (1) capital readiness programs for existing small businesses and start-ups, and (2) technical assistance to small businesses applying for SSBCI funding and other government small business capital programs. SSBCI is designed to magnify the effects of the federal funds allocated through the program by stimulating increased investment in the small business community.
The Program will utilize a mesh network that provides varying levels of technical assistance navigators to meet entrepreneurs and small businesses where they are. TA programs and services shall be guided by an individualized TA plan and consist of high touch, one-on-one coaching to support the small business owner in preparing for access to capital (pre-funding and post-funding). Sub-recipients of SSBCI TA funds may provide small group learnings, online learning platforms, and seminars to complement one-on-one coaching, especially when creating efficiencies in meeting the shared needs of small business owners engaged with the Program.
Program applicants are responsible for building a pipeline of eligible businesses for California’s SSBCI capital programs including but not limited to the Loan Guarantee program, which is deployed through iBank, CPCFA, and Community Development Finance Institutions, and the Expanding Venture Capital Access Program. The mesh network includes Capital Readiness Coaches, Capital Readiness Network Manager, Capital Providers, Equity Advisors, and Technical Assistance Training Partners.
Eligibility:
Business, Individual, Nonprofit, Other Legal Entity
Award Details:
Total Amount Available:
$20,919,903
Deadline:
December 22, 2023
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