WEDC has opened the application proposal process for the Capital Catalyst Loan Participation program funding under the federal State Small Business Credit Initiative (SSBCI). Eligibility is limited to private nonprofit lenders operating loan programs with private funds. $6M in funding is available and lenders must provide a minimum 1:1 private funding match. Eligible lenders are encouraged to discuss their opportunity and detailed program requirements with WEDC staff, who will provide application materials for applicants wishing to submit a proposal. More information is available on the U.S. Treasury SSBCI and WEDC Capital Catalyst program websites.
Lenders providing capital to businesses meeting U.S. Treasury’s socially and economically disadvantaged individual (SEDI) definition are particularly encouraged to apply.
Proposals will be evaluated for eligibility and overall program fit as they are received. Proposal evaluation is non-competitive and WEDC will award contracts until available resources are committed.