Created as part of the Small Business Jobs Act of 2010, the State Small Business Credit Initiative (SSBCI) was designed by the federal government to help states strengthen existing loan and equity programs and/or create new programs that support financing small businesses. Florida received a total SSBCI allocation of $97,662,349.

The primary objective of Florida's SSBCI Program is to leverage private capital for Florida's small businesses, which are defined as businesses with an average 500 employees or less. After five years, Florida must show that, taken together, $10 in new small business lending or investment was generated by every $1 in SSBCI funding (known hereafter as the "10:1 private capital leverage ratio"). Therefore, Florida's SSBCI Program must generate at least $976,623,490 in new private capital for Florida's small businesses. Accordingly, to achieve the required 10:1 private capital leverage ratio, Florida's SSBCI Program will place emphasis on supporting loan and equity transactions that provide strong private capital leveraging opportunities.

Advantages to Florida's small businesses include:

Access to debt and venture capital financing that may not otherwise be available

A flexible and non-bureaucratic resource for funding

Advantages to Florida's lenders and sources of private capital include:

Ability to approve a loan that would otherwise be declined

Provides a non-competitor participant on credit facilities and investments