Small Business Lending Fund Program and State Small Business Credit Initiative

The Small Business Jobs Act of 2020, signed into law on September 27, 2010, was created to help small businesses create jobs to drive the economic recovery. The Act created the Small Business Lending Fund (SBLF) program administered by the Department of the Treasury (Treasury) to make capital investments in eligible institutions to increase the availability of credit for small businesses. The Act also created the State Small Business Credit Initiative (SSBCI), administered by Treasury to strengthen state programs that support lending to small businesses. Treasury is responsible for overseeing an estimated $4 billion in SBLF program funds and $1.5 in SSBCI funds distributed to financial institutions.

OIG provides oversight of the SBLF Program and SSBCI. The OIG must report at least twice a year to the Secretary of the Treasury and Congress on the results of its SBLF oversight activities, including recommended program improvements. It is also required to conduct and coordinate audits and investigations of the use of funds made available to states and territories under the SSBCI. The Assistant Inspector General for Audit serves as the Special Deputy Inspector General for SBLF Program Oversight.

SBLF Program and SSBCI Reports

Agency	Date	Name
SBLF	1/29/2020	OIG-20-026 SMALL BUSINESS LENDING FUND: Impact of Mandatory Dividend Rate Increases on Small Business Lending Fund Participants
SSBCI	10/6/2017	OIG-18-002 STATE SMALL BUSINESS CREDIT INITIATIVE: Arkansas’ Use of Federal Funds for Venture Capital Programs
SSBCI	09/28/2017	OIG-17-059 STATE SMALL BUSINESS CREDIT INITIATIVE: Wisconsin's Use of Federal Funds for the Kegonsa Growth Fund, LP
SSBCI	9/28/2017	OIG-17-058 STATE SMALL BUSINESS CREDIT INITIATIVE: New Hampshire’s Use of Federal Funds for the Borealis Granite Fund, LP
SSBCI	9/20/2017	OIG-17-057 STATE SMALL BUSINESS CREDIT INITIATIVE: Rhode Island's Use of Federal Funds for Its Betaspring Fund 100, LLC Venture Capital Program
SSBCI	9/18/2017	OIG-17-056 STATE SMALL BUSINESS CREDIT INITIATIVE: New York’s Use of Federal Funds for Six of Innovate Fund’s Venture Capital Funds
SSBCI	7/25/2017	OIG-17-049 STATE SMALL BUSINESS CREDIT INITIATIVE: Oregon’s Use of Federal Funds for Capital Access and Other Credit Support Programs
SSBCI	7/21/2017	OIG-17-048 STATE SMALL BUSINESS CREDIT INITIATIVE: Oklahoma’s Use of Federal Funds for Its Venture Capital Programs
SSBCI	1/24/2017	OIG-17-035 STATE SMALL BUSINESS CREDIT INITIATIVE: New York’s Use of Federal Funds for Other Credit Support Programs
SBLF	5/25/2016	OIG-16-045 SMALL BUSINESS LENDING FUND: Banks Inaccurately Reported Qualified Small Business Lending Gains
SBLF	11/25/2015	OIG-CA-16-017 SMALL BUSINESS LENDING FUND-Corrective Action Verification: Treasury Effectively Monitored Small Business Lending Fund Participants’ Compliance with Program Requirements
SSBCI	11/16/2015	OIG-CA-16-008 Termination Memorandum - State Small Business Credit Initiative Venture Capital Funds Audit
SSBCI	4/22/2015	OIG-CA-15-013 Audit Termination Memorandum – State Small Business Credit Initiative: Effectiveness of the State Small Business Credit Initiative
SBLF	12/23/2014	OIG-SBLF-15-002R SMALL BUSINESS LENDING FUND: Treasury Effectively Monitored Small Business Lending Fund Participants’ Compliance with Program Requirements
SSBCI	10/31/2014	OIG-SBLF-15-001 STATE SMALL BUSINESS CREDIT INITIATIVE: Rhode Island’s Use of Federal Funds for the Slater Technology Fund
SSBCI	08/29/2014	OIG-SBLF-14-013R STATE SMALL BUSINESS CREDIT INITIATIVE: North Dakota Mandan Consortiums's Use of Federal Funds for its Loan Participation Program
SSBCI	8/20/2014	OIG-SBLF-14-012 STATE SMALL BUSINESS CREDIT INITIATIVE: Tennessee’s Use of Federal Funds for its Venture Capital Program
SSBCI	6/18/2014	OIG-SBLF-14-011 STATE SMALL BUSINESS CREDIT INITIATIVE: Indiana’s Use of Federal Funds for Other Credit Support Programs
SSBCI	5/19/2014	OIG-SBLF-14-010R STATE SMALL BUSINESS CREDIT INITIATIVE: Idaho's Use of Federal Funds for its Collateral Support Programs
SSBCI	3/27/2014	OIG-SBLF-14-009 STATE SMALL BUSINESS CREDIT INITIATIVE: North Carolina's Use of Federal Funds for Capital Access and Other Credit Support Programs
SBLF	3/27/2014	OIG-SBLF-14-008 SMALL BUSINESS LENDING FUND: Survey of Small Business Fund Participants on Use of Program Funds, Repayment Plans and Satisfaction with Treasury's Program Administration
SSBCI	3/26/2014	OIG-SBLF-14-007 STATE SMALL BUSINESS CREDIT INITIATIVE: American Samoa’s Administrative Expenses and Reporting
SSBCI	3/26/2014	OIG-SBLF-14-006 STATE SMALL BUSINESS CREDIT INITIATIVE: South Carolina’s Use of Federal Funds for Capital Access and Other Credit Support Programs
SSBCI	3/26/2014	OIG-SBLF-14-005R STATE SMALL BUSINESS CREDIT INITIATIVE: Illinois's Use of Federal Funds for Capital Access and Other Credit Support Programs
SSBCI	3/19/2014	OIG-SBLF-14-004R STATE SMALL BUSINESS CREDIT INITIATIVE: West Virginia's Use of Federal Funds Other Credit Support Programs
SSBCI	1/9/2014	OIG-SBLF-14-003 STATE SMALL BUSINESS CREDIT INITIATIVE: Louisiana's Eligibility for its Second Transfer of Funds and the Allowability of Reported Administrative Expenses (Recalled) This report was removed from the Treasury OIG website on June 24, 2015.
SSBCI	11/15/2013	OIG-SBLF-14-002R STATE SMALL BUSINESS CREDIT INITIATIVE: Florida's Use of Funds for Capital Access and Other Credit Support Programs
SSBCI	10/24/2013	OIG-SBLF-14-001 STATE SMALL BUSINESS CREDIT INITIATIVE: Treasury Needs to Modify Its Capital-at-Risk Requirements For Capital Access Programs
SBLF	9/27/2013	OIG-SBLF-13-014 SMALL BUSINESS LENDING FUND: Accuracy of First-Quarter 2013 Dividend Rate Adjustments
SSBCI	9/5/2013	OIG-SBLF-13-013 STATE SMALL BUSINESS CREDIT INITIATIVE: Kansas' Use of Federal Funds for Other Credit Support Programs
SBLF	8/29/2013	OIG-SBLF-13-012 SMALL BUSINESS LENDING FUND: Reported SBLF Program Accomplishments Are Misleading Without Additional Reporting
SSBCI	8/15/2013	OIG-SBLF-13-011 STATE SMALL BUSINESS CREDIT INITIATIVE: Washington’s Use of Federal Funds for Capital Access and Other Credit Support Programs
SBLF	8/9/2013	OIG-SBLF-13-010 SMALL BUSINESS LENDING FUND: Accuracy of Fourth-Quarter 2012 Dividend Rate Adjustments
SSBCI	7/24/2013	OIG-SBLF-13-009 STATE SMALL BUSINESS CREDIT INITIATIVE: Missouri’s Use of Federal Funds for Other Credit Support Programs
SSBCI	6/4/2013	OIG-SBLF-13-008 STATE SMALL BUSINESS CREDIT INITIATIVE: Alabama’s Use of Federal Funds for Capital Access and Other Credit Support Programs
SSBCI	5/14/2013	OIG-SBLF-13-007 STATE SMALL BUSINESS CREDIT INITIATIVE: Massachusetts’ Use of Federal Funds for Capital Access and Other Credit Support Programs
SSBCI	3/29/2013	OIG-SBLF-13-006 STATE SMALL BUSINESS CREDIT INITIATIVE: Delaware’s Use of Federal Funds for Capital Access and Other Credit Support Programs
SSBCI	2/27/2013	OIG-SBLF-13-005 STATE SMALL BUSINESS CREDIT INITIATIVE: New Jersey’s Use of Federal Funds for Other Credit Support Programs
SBLF	1/29/2013	OIG-SBLF-13-004 SMALL BUSINESS LENDING FUND: Accuracy of Third-Quarter 2012 Dividend Rate Adjustments
SSBCI	1/29/2013	OIG-SBLF-13-003 STATE SMALL BUSINESS CREDIT INITIATIVE: Texas’ Use of Federal Funds for Other Credit Support Programs
SSBCI	12/13/2012	OIG-SBLF-13-002 STATE SMALL BUSINESS CREDIT INITIATIVE: Michigan’s Use of Federal Funds for Capital Access and Other Credit Support Programs
SSBCI	11/30/2012	OIG-SBLF-13-001 STATE SMALL BUSINESS CREDIT INITIATIVE: Vermont's Use of Federal Funds for Capital Access and Other Support Programs
SSBCI	9/27/2012	OIG-SBLF-12-006 STATE SMALL BUSINESS CREDIT INITIATIVE: Montana’s Use of Funds Received from the State Small Business Credit Initiative
SBLF	8/21/2012	OIG-SBLF-12-005 SMALL BUSINESS LENDING FUND: Initial Dividend Rate Calculations Used Incorrect Lending Information
SBLF	7/3/2012	OIG-SBLF-12-004 SMALL BUSINESS LENDING FUND: Soundness of Investment Decisions Regarding Later-Entry, Withdrawn and Reconsidered Institutions in the SBLF Program
SSBCI	5/24/2012	OIG-SBLF-12-003 STATE SMALL BUSINESS CREDIT INITIATIVE: California Needs to Improve Its Oversight of Programs Participating in the State Small Business Credit Initiative
SBLF	2/17/2012	OIG-SBLF-12-002 SMALL BUSINESS LENDING FUND: Soundness of Investment Decisions Regarding Early-Entry Institutions into the SBLF Program
SBLF	12/22/2011	OIG-SBLF-12-001 SMALL BUSINESS LENDING FUND: Treasury Should Consider Supervisory Concerns Regarding Participant Management and Historical Retained Earnings When Estimating the Cost of the SBLF Program
SSBCI	8/5/2011	OIG-SBLF-11-002 STATE SMALL BUSINESS CREDIT INITIATIVE: Treasury Needs to Strengthen State Accountability for Use of Funds
SBLF	5/13/2011	OIG-SBLF-11-001 SMALL BUSINESS LENDING FUND: Investment Decision Process for the Small Business Lending Fund

Changed

Tue, 07/18/2023 - 12:50