SSBCI FAQs

Frequently asked questions and their answers about the State Small Business Credit Initiative (SSBCI).

  • 1. What is the State Small Business Credit Initiative (SSBCI)?

    The State Small Business Credit Initiative (SSBCI) is a federal program administered by the U.S. Department of the Treasury to support small businesses and entrepreneurship. The program provides funding to states, the District of Columbia, territories, and Tribal governments to expand access to capital and encourage private investment.

  • 2. How are SSBCI funds administered in Georgia?

    The Georgia Department of Community Affairs (DCA) administers Georgia’s SSBCI programs. These include two investment programs operated by Invest Georgia:

    • Georgia Venture Capital Program: $30 million
    • Georgia Equity Direct Program: $20 million
  • 3. What is Invest Georgia’s role in SSBCI?

    Through a Memorandum of Agreement with DCA, Invest Georgia operates the Georgia Venture Capital Program and the Georgia Equity Direct Investment Program.

  • 4. How does the Georgia Venture Capital Program work?

    The Georgia Venture Capital Program uses a fund-of-funds model. Invest Georgia works with a third-party fund administrator to identify and evaluate qualifying early-stage venture capital funds. Approved venture funds then conduct their own due diligence and select eligible businesses for investment.

    As investments generate returns, the program receives its original invested capital back, along with 80% of profits after the return of capital. These proceeds are reinvested through the program.

  • 5. How does the Georgia Equity Direct Program work?

    The Georgia Equity Direct Program invests directly in eligible Georgia businesses alongside other private investors. A third party conducts due diligence on potential investments, which are subject to approval by the Invest Georgia Board.

    Investments are made alongside other investors, such as angel investors and early-stage venture capital funds.

  • 6. What businesses are eligible for investment?

    Eligible Georgia businesses generally operate in high-growth, innovation-focused sectors, including:

    • AI
    • Cybersecurity
    • Fintech
    • AgTech
    • Logistics and supply chain
    • Alternative energy
    • Robotics and automation
    • Digital health and wellness
    • Health IT
    • Medical devices
    • Life sciences
  • 7. How much do the programs invest?

    Georgia Venture Capital Program

    • $1 million to $3 million
    • Up to 10% of the venture fund
    • At least 1:1 private co-investment

    Georgia Equity Direct Program

    • $250,000 to $1 million
    • At least 1:1 private co-investment
  • 8. How have SSBCI funds been invested through Invest Georgia?

    Since Invest Georgia began investing SSBCI funds in 2023, it has partnered with three venture capital funds through the Georgia Venture Capital Program and made direct investments in 11 Georgia businesses through the Georgia Equity Direct Program.

  • 9. Who oversees the SSBCI programs operated by Invest Georgia?

    The five-member Invest Georgia Board oversees and approves investments. Board members are appointed by the Governor, Lieutenant Governor and Speaker of the House. The Commissioners of the Georgia Department of Economic Development and Georgia Department of Community Affairs also serve as non-voting members.

    An Executive Director selected by the Board manages day-to-day operations and program implementation. Program reporting is provided to the U.S. Department of the Treasury.