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We’ve Got 53 Problems and the State-by-State SSBCI Schema Is All of Them

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By <a href="https://www.thompsonhine.com/professionals/lindsay-karas-stencel/">Lindsay Karas Stencel</a> and <a href="https://www.thompsonhine.com/professionals/jacob-j-denham/">Jacob J. Denham</a>

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On March 11, 2021, President Biden signed the American Rescue Plan Act, which reauthorized and funded the State Small Business Credit Initiative (SSBCI). This updated version of the SSBCI program provides an additional $10 billion to states, the District of Columbia, territories and tribal governments to provide access to capital for small business to spur job creation and technological advancement across the nation. The goal of the program is to democratize access to capital for startups across the country, with a focus on funding traditionally underrepresented founders, fund managers (specifically emerging fund managers) and communities. The reboot of the SSBCI program has $8.5 billion more allocated to it than its 2010 predecessor, and for all intents and purposes, is designed from a policy perspective to put dollars in the hands of companies led by socially and economically disadvantaged individuals (SEDI) in traditionally underserved markets (outside California, New York City and Boston). <a href="https://admin.thompsonhine.com/wp-content/uploads/2023/03/NV-March-2023-Update-Stencel-Article.pdf" target="_blank" rel="noreferrer noopener">Continue reading.</a>

2023 Startups Streamlined Series – FDA 101 for Startups

Join us for our next Startups Streamlined – FDA 101 for Startups on April 18. Engaging the FDA can create ambiguities for businesses seeking the agency’s guidance in carrying out their business endeavors safely, efficiently and economically. This session will focus on navigating the intricacies of the FDA and outline best practices for accessing the organization’s resources and services. We will differentiate binding policies from agency recommended practices and address whether FDA regulations can change with each administration. Click <a href="https://thompsonhine.webex.com/webappng/sites/thompsonhine/meeting/register/f2d135e65aff4d818c6c81b215e27886?ticket=4832534b00000006314d999fe1fc2d855f4986af512f5766f0801238eacd1c1b627db44e8884a0c2&amp;timestamp=1679939033648&amp;RGID=r0a7b0f278e7a0d88e65fd9b8e41f9131" target="_blank" rel="noreferrer noopener">here</a> to register. You can also <a href="https://www.youtube.com/channel/UCQMN7u9JpzQ8MIZfWrTHr6w" target="_blank" rel="noreferrer noopener">subscribe</a> to the Thompson Hine YouTube channel to catch up on all our past recordings.

Lumpkin Joins Women of Color Retail Alliance Board of Directors

Congratulations to New Ventures partner <a href="https://www.thompsonhine.com/professionals/layla-dotson-lumpkin/">Layla Lumpkin</a> as she joins the board of directors for the Women of Color Retail Alliance (WOCRA). The WOCRA mission is to promote inclusion in the retail industry by empowering women of color and advocating for their visibility and representation in leadership positions, entrepreneurship and other areas of influence. They strive to create a more inclusive and equitable retail industry that reflects the diversity of our communities and ensures that all individuals have the opportunity to thrive and succeed. Through their advocacy, education and community-building efforts, they aim to create a more just and equitable future for women of color in the retail industry.

Proud to Sponsor the Connecting the Coasts to the Heartland Conference

The Thompson Hine New Ventures team is proud to be a platinum sponsor of the Connecting the Coasts to the Heartland presented by Comeback Capital conference, hosted on April 4 in Cleveland. This one- day sold-out event includes a discussion of the Northeast Ohio start-up ecosystem, pitch competitions and a fireside chat with entrepreneur, investor and author Steve Case. You will even catch our very own new ventures partner <a href="https://www.thompsonhine.com/professionals/sean-ganley/">Sean Ganley</a> in attendance.

QuickLaunch: Experienced Guidance for Startups &amp; Investors

Our QuickLaunch program is tailored to entrepreneurs, startups and investors, providing guidance on growth and funding cycles and offering cost-effective counsel on day-to-day legal matters from formation to funding to exits. Our seasoned team helps navigate the confusing waters of growth, funding, expansion and those tricky legal issues that can arise, often at fixed or budgeted pricing developed using our firmwide proprietary <a href="https://www.thompsonhine.com/innovation/smartpath/">SmartPaTH™</a> tool. To learn more about our tailored, value-enhancing solutions, please visit our <a href="https://www.thquicklaunch.com/" target="_blank" rel="noreferrer noopener">QuickLaunch</a> site.

For more information, please contact a member of our QuickLaunch <a href="https://www.thquicklaunch.com/quicklaunch-team/" target="_blank" rel="noreferrer noopener">team</a>.

New Ventures Team Update – March 2023