Skip to content Skip to footer site map

Navigate Up
Sign In

Treasury Notes

 An Economic “Bounce” – The Success of SSBCI and JumpTime Idaho

By: Clifton Kellogg


“The process to apply and the ‘user-friendly’ nature of SSBCI make it an attractive credit enhancement tool for Home Federal Bank.”  -- Home Federal Bank’s Assistant Vice President and Relationship Manager Casey Taylor

“Without this loan, I would not have been able to expand my business into Boise or hire additional support to staff my new location.”  —JumpTime owner Chad Babcock

Small business owners face disproportionate challenges in the aftermath of the recession and credit crisis, including difficulty accessing capital.  Treasury’s State Small Business Credit Initiative (SSBCI)—a critical component of the President’s Small Business Jobs Act—helps to unlock credit for small businesses.  Since 2011, SSBCI has provided funding for new and existing state-run programs that partner with private lenders and investors in order to leverage $10 in private lending to and investments in small businesses for every $1 in public funds.

Idaho uses its $13,168,350 SSBCI allocation to fund a Collateral Support Program (CSP).  In a CSP, the state covers a collateral shortfall with a deposit at the lending institution.  In just over one year, Idaho’s CSP has committed or spent $6,464,017 in over 75 companies, which has helped promote economic activity in the State while leading to the creation of 242 new jobs.

One of those local Idaho businesses is JumpTime Idaho.  Owner Chad Babcock, a former All-American collegiate gymnast, always aspired to train the next generation of athletes.  After years as owner and manager of two other gymnastics companies, he saw a new niche prospect: an indoor trampoline park. 

Mr. Babcock contacted Home Federal Bank, a community bank serving parts of Idaho and Oregon, hoping to secure a loan.  Loan officers at the bank saw the project’s potential but felt that Mr. Babcock needed additional collateral to secure the loan.  This mismatch between available credit and credit-worthy borrowers is where SSBCI loan programs are most useful. 

Home Federal Bank is an experienced participant in the SSBCI.  The bank quickly received a favorable response from Idaho and was issued $30,000 in collateral support to address JumpTime’s collateral shortfall, which allowed the bank to complete the loan. 

In October 2010, Mr. Babcock successfully launched JumpTime Idaho, an indoor trampoline park, in Meridian, Idaho.  Mr. Babcock opened a second facility in Boise and is considering expansion opportunities.  Opening his second facility created 20 new jobs.   

Through the SSBCI, all 50 states, the District of Columbia, and the territories are eligible for federal funds for programs that leverage private lending to help finance small businesses and manufacturers that are creditworthy, but are not getting the loans they need to expand and create jobs.  For more information on specific state, contact the state’s SSBCI-supported programs directly.

Clifton Kellogg is Director of the State Small Business Credit Initiative​at the U.S. Department of the Treasury.
Posted in:  Small Business
Bookmark and Share

Contact Us

Department of the Treasury
1500 Pennsylvania Ave., N.W.
Washington, D.C. 20220

General Information: (202) 622-2000
Fax: (202) 622-6415
Hours: Mon-Fri 8:00am - 5:00pm

Untitled 1
Untitled 1

E-Mail Signup

Sign Up to Receive News src= Sign up to Receive News