SSBCI capital deployment by state

What SSBCI is. The State Small Business Credit Initiative is a Treasury programme, reauthorised in 2021 with nearly $10 billion, that funds small-business financing programmes (loan participations, loan guarantees, collateral support, capital access and equity/venture programmes) and technical assistance run by states, territories and Tribal governments. Treasury disburses each jurisdiction’s Capital Program allocation in three tranches, each released on the basis of funds already deployed. This page covers the Capital Programs only; technical-assistance grants are a separate Treasury table and are not included.

Source. U.S. Department of the Treasury, SSBCI Quarterly Report through March 31, 2026 (dated June 29, 2026, posted July 9, 2026; sha256 51229b4f86bde238…), Figure 5, the summary table of every jurisdiction required to report, and the two preceding reports (through December 31, 2025 and through September 30, 2025) for the comparison columns. Treasury’s reports are on its programme reports page. Every dollar figure on this page is a cell in those tables; each report’s hash is recorded in the manifest so the exact files can be identified.

What “deployed” means. Treasury’s reports count funds as deployed when they are expended, obligated or transferred (“EOT”) as those terms are defined in section III.b of the Capital Program Policy Guidelines. Expended funds support loans or investments or pay administrative expenses; obligated funds are committed in writing, including to intermediaries; transferred funds have been passed to a contracting entity. EOT therefore includes obligations to venture funds that have not yet been invested in a business, and administrative costs. It is not the same as dollars lent or invested in small businesses, and this page never calls it “money spent”. Treasury states that the deployment data are as reported by the jurisdictions, may be under review, have not been verified by Treasury and may be revised.

Population. Treasury’s Figure 5 lists 56 jurisdictions: the 50 states, the District of Columbia and five territories, all reporting on the same date. It excludes Tribal governments (Treasury publishes their allocations, $571.0m in total, but not their deployment by jurisdiction) and any jurisdiction not yet required to report. The ranked scorecard is the 50 states plus DC (51). The territories carry the same metrics but are ranked only within Treasury’s 56-row order, because their allocations sit at the statutory minimum and their agreements were signed later than most states’. The 56-row totals reconcile to Treasury’s printed totals to within $5.

Calculations. Deployed, % of allocation = allocated funds deployed ÷ total allocation, computed from the dollar cells at full precision and shown to one decimal; every one of the 168 recomputed percentages across the three reports matches Treasury’s printed figure, and our exact-value ordering reproduces Treasury’s row order in all three. Remaining allocation = allocation − deployed. Share of reported deployment = a jurisdiction’s deployed funds ÷ the 56-row total. Months since agreement = days from the allocation agreement date to the period end ÷ 30.44. Ranks are on exact values; there are no ties. Quarter changes subtract the December 31, 2025 cell from the March 31, 2026 cell for the same jurisdiction; allocations are identical across the three reports.

The Ohio cell. In the March 2026 table Treasury prints Ohio’s deployed funds as $8,018,791. That figure is 4.4% of Ohio’s allocation, but the same row prints 48.3%; it is 6.9% of disbursed funds against a printed 75.5%; and with it the 56 rows sum to $80.0 million less than Treasury’s printed total. Ohio reported $87,123,774 at September 30, 2025 and $87,677,074 at December 31, 2025. Restoring a dropped leading digit gives $88,018,791, which reproduces both printed percentages to the decimal and brings the column total to within $5 of Treasury’s. We publish that figure, flag it in the table, and will replace it with Treasury’s own number if a corrected report appears.

Cross-checks. The headline facts Treasury states in the text of each report — California as the largest deployer and its rounded dollar figure, Alaska and Montana as the two highest shares and their percentages, the “over $8.9 billion” of allocations and the “over $3.9 billion” deployed — all reproduce from the parsed tables. Where the report’s charts carry a text layer (the September 2025 report), all 40 values of its top-40 chart and all 20 of its top-20 chart reproduce from our extract. The whole derivation was re-run in a second, independent implementation (a different PDF library, a different table parser, vectorised recomputation, and hand-typed anchor values from the tables) before publication; every published cell matched.

Reproducing and updating it. The three reports are public and the derivation is deterministic. Method version 1.0, 5 September 2026. This page is a living scorecard: at each new Treasury quarterly report the table and charts are refreshed for the new period, the reporting date above changes, and the previous file stays available at its own dated URL. Numbers on this page are never silently rewritten.

What these numbers cannot tell you