381 State small business credit initiative; request for qualifications?

DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT

State Small Business Credit Initiative; Request for Qualifications

[41 Pa.B. 1210]
[Saturday, March 5, 2011]

 The Department of Community and Economic Development announces the availability of a Request for Qualifications (RFQ) for the State Small Business Credit Initiative (SSBCI), a component of the Federal Small Business Jobs Act of 2010. The SSBCI was developed to strengthen programs in this Commonwealth that support lending to small businesses. The Commonwealth is seeking innovative proposals to deploy these funds in a way that will help meet the financing needs of small businesses that presently are not being met by public and private lenders. Because of tight credit markets, more stringent underwriting standards and other economic factors, many small businesses have experienced difficulties in accessing the capital they need to both maintain operations and to grow their businesses. The Commonwealth intends to utilize the Federal funds to fill financing gaps in the most efficient and effective manner possible. Assistance from SSBCI is in the form of grants from the Commonwealth to eligible organizations for credit support programs that conform to the eligibility criteria detailed in the RFQ.

 Inquiries and requests for the SSBCI RFQ should be directed to the Department of Community and Economic Development, Center for Business Financing, Performance Monitoring and Entrepreneurial Assistance Division, Commonwealth Keystone Building, 400 North Street, Fourth Floor, Harrisburg, PA 17120-0225, [phone], [e-mail].

C. ALAN WALKER, 
Acting Secretary

[Pa.B. Doc. No. 11-381. Filed for public inspection March 4, 2011, 9:00 a.m.]