Are you a very small (under 10 employees) and/or socially or economically disadvantaged business seeking access to capital? The SSBCI Technical Assistance Center (TAC) is dedicated to helping disadvantaged individuals in Wisconsin prepare for access to capital.
SSBCI is funded by the U.S. Treasury through the Wisconsin Economic Development Corporation, in partnership with the UW-Madison Law & Entrepreneurship Clinic.
What is SSBCI?
The State Small Business Credit Initiative (SSBCI) is a multi-year federal program administered by the U.S. Treasury that supports small businesses and startups through a mix of credit and investment programs.
In addition to funding opportunities, SSBCI offers technical assistance in legal, accounting, and financial advisory services—available to all small businesses, regardless of whether they are applying for SSBCI capital or other government funding.
The Wisconsin Economic Development Corporation (WEDC) has designated the Universities of Wisconsin’s Office of Business and Entrepreneurship and the UW Law & Entrepreneurship Clinic (UWLE) as the Technical Assistance providers for the SSBCI program. UWLE provides one-on-one education and advising on legal matters. If a legal need is determined, a direct referral will be made to UWLE.
Who is Eligible?
The program is designed to assist small businesses that fall within two categories:
1. Very Small Business (VSB): a business with fewer than 10 employees (includes independent contractors and sole proprietors)
2. Socially and Economically Disadvantaged Individuals (SEDI): a business owned and controlled by individuals who have had their access to credit diminished due to: (1) membership of a group that has been subjected to racial or ethnic prejudice or cultural bias within American society, (2) gender, (3) veteran status, (4) limited English proficiency, (5) disability, (6) long term residence in an environment isolated from the mainstream of American society, (7) membership of a federally or state recognized Indian Tribe, (8) long term residence in a rural community, (9) residence in a U.S. territory, (10) residence in a community undergoing economic transitions, or (11) membership of an underserved community.
Providing Customized Assistance to Wisconsin Small Businesses
The SSBCI Technical Assistance Program offers free support to small businesses and startups, providing expert guidance in accounting, legal, and financial advisory services.
With our in-house resources and trusted partners, we can provide support in developing financial projections, training in financial management, and guidance through the loan application process. Our goal is to assist socially and economically disadvantaged individuals and small businesses, helping them become strong loan applicants and equipping them for long-term success.
Below is a breakdown of the various areas of support provided by the SSBCI TAC:
Legal Services
- Assisting with business formation or adopting corporate governance documents.
- Obtaining needed registrations, licenses, filings, and certifications.
- Advising on, or preparing documents for, the business to enter into contracts.
- Legal services related to the business obtaining capital from investors, such as the development of financial instruments, investment term sheets, purchase agreements, and shareholder rights agreements.
- Legal services related to a transfer of ownership interests in a business, in the case of employee stock ownership plans (ESOPs).
Accounting Services
- Preparing audits, financial statements, or business records.
- Digitizing financial records.
- Advisory services or training regarding accounting practices, recordkeeping, or accounting software.
Financial Advisory Services
- Assisting with the establishment of banking relationships or other financial services.
- Assisting with applications for government small business programs, including preparing financial analyses.
- Identifying sources of credit, capital, grants, and other financing.
- Advising on factors that may impede access to financing for the business.
- Advising on financial management.
- Developing presentations to potential investors, financial models, and business plans.
IT’s EASY to get started!
Fill out and submit the eligibility/intake form using the button below.
A member of our SSBCI team will reach out within 48 business hours to schedule a consultation.
During the consultation, we will assess your business needs and fit with the programs offerings.
If the business needs fit the program offerings, we will refer you to the best fit partner(s) who will provide you with the needed legal, accounting, and financial advisory services.
Nora Roughen-Schmidt
SSBCI Lead Specialist
Nora’s areas of expertise include small business and tech startups and support, social media strategy, marketing, grant writing, nonprofits, partnerships, venture funding, agritourism, and economic development. She says that working with her will always be fun, productive and likely involve caffeine.
Eliminating barriers for small businesses is her favorite part of her job. Curating services and finding the best support and resources for businesses can be game-changing for people. She loves being able to offer that information and access.