Nevada Battle Born Growth Escalator, Inc – known as “Battle Born Growth” – is a corporation for public benefit with 501(c)(3) status. It was created during the 2015 Nevada Legislative Session through AB17_to house federal State Small Business Credit Initiative (SSBCI) funds.
Nevada’s first SSBCI Program was created in 2011 following the federal Small Business Jobs Act of 2010. It has consisted of a Collateral Support Program and a Venture Capital Program component These programs through their “evergreen status” enable the Governor’s Office of Economic Development (GOED) to earn returns that are being recycled to benefit Nevada’s small businesses.
The American Rescue Plan Act of 2021 reauthorizes and expands the State Small Business Credit Initiative (SSBCI) Program, which was originally established in 2010. SSBCI will provide a combined $10 billion to states, the District of Columbia, territories, and Tribal governments to expand access to capital for small businesses emerging from the pandemic, build ecosystems of opportunity and entrepreneurship, and create high-quality jobs.
Nevada will be receiving up to $112.95m in total from SSBCI 2.0 over the next decade, and has created accelerator, microloan, venture capital, small business loan, collateral support, and climate finance programs for the support of small businesses and startups. In addition, Nevada’s tribal governments manage their own lending programs from a separate funding allocation.
Each dollar invested through the program must be matched at least 1:1 by private funds, and the Program’s aim is to leverage $10 for every $1 invested by Battle Born Growth across all programs and over the duration of SSBCI 2.0.
Occasionally, we hear of others claiming to direct or manage Battle Born Growth funds or programs. They do not, and we encourage you to drop us a line if you are approached by any other companies claiming involvement in the program.