SSBCI Program Support for Small Business LendingUnder the current federal authorization, VIEDA administers four SSBCI guarantee programs to better align financial tools with business needs and lender requirements:Collateral Support Program: May provide up to 80% collateral support for eligible loans originated by participating lenders. Loan Guarantee Program: May provide up to 80% guarantee support for eligible loans. Background on SSBCIThe State Small Business Credit Initiative was originally created in 2010 under the federal Small Business Jobs Act to stimulate small business lending, job creation, and economic activity following the 2007–2009 recession. Under the initial program, the U.S. Virgin Islands was awarded and successfully expended $13.1 million, which was administered by VIEDA/EDB. In 2023, the U.S. Virgin Islands was awarded $57.8 million under the expanded initiative, with VIEDA/EDB again designated to administer the territory’s SSBCI programs.