The Small Business Administration maintains and strengthens the nation's economy by aiding, counseling, assisting and protecting the interests of small businesses and by helping families and businesses recover from national disasters.
|Recipient||Amount||Start Date||End Date|
|Assets Lancaster||$ 163,000||   ||2021-09-30||2022-09-29|
|Ventures||$ 187,900||   ||2021-09-30||2022-09-29|
|Native Cdfi Network, Inc.||$ 180,000||   ||2021-09-30||2022-09-29|
|Wisconsin Women's Business Initiative Corporation||$ 200,000||   ||2021-09-30||2022-09-29|
|Communities Unlimited, Inc.||$ 200,000||   ||2021-09-30||2022-09-29|
|Start Small. Think Big., Inc.||$ 200,000||   ||2021-09-30||2022-09-29|
|Washington Area Community Investment Fund||$ 200,000||   ||2021-09-30||2022-09-29|
|Credit Builders Alliance, Inc.||$ 240,000||   ||2021-09-30||2022-09-29|
|Mountain Bizcapital, Inc||$ 80,000||   ||2021-09-30||2022-09-29|
|Justine Petersen Housing & Reinvestment Corporation||$ 200,000||   ||2021-09-30||2022-09-29|
Uses and Use Restrictions
The recipients of the services provided by the grantees are those persons/businesses who satisfy the eligibility criteria as defined in the Act.
Grant recipients shall be non-profit microenterprise development or program (or a collaborative thereof) that has a demonstrated record of delivering microenterprise services to disadvantaged entrepreneurs, an intermediary, a microenterprise development organization or program that is accountable to a local community, working in conjunction with a State or local government or Indian tribe, or an Indian tribe acting on its' own, if the tribe can certify that no private organization or program referred to in this paragraph exists within its' jurisdiction.
Disadvantaged entrepreneurs, microenterprises, and microenterprise development organizations as defined in the Act.
Aplication and Award Process
This program is excluded from coverage under E.O.
Subject to the availability of funds, SBA will issue a Notice of Funds Availability (NOFA) soliciting responses from qualified organizations for the services to be provided under the Act.
Successful offerors will be notified of a decision by letter from the Office of Financial Assistance.
The deadlines for applications will be stated in the NOFA.
Riegle Community Development and Regulatory Improvement Act of 1994, 15 U.S.C. 6901 et seq., as amended; Gramm-Leach -Bliley Act, Title VIII, Public Law 106-102.
Range of Approval/Disapproval Time
Sixty to 90 days.
The period of performance for grants awarded under the Act is for one year with four twelve month options exercised at the discretion of the government.
Formula and Matching Requirements
Grant recipients are expected to provide a 50 percent match which may come from fees, nonfederal grants, loan sources, and in-kind resources.
Length and Time Phasing of Assistance
Post Assistance Requirements
Grant recipients are required to provide performance and financial reports.
SBA reserves the right to perform pre- and post award audits. Grant recipients are required to provide audited financial statements on an annual basis.
Grant recipients are required to collect and maintain data on recipients of technical assistance which shall be included in the grant recipient's performance reports.
Grants: FY 07 $1,835,000; FY 08 $3,000,000; and FY 09 $0. Administration: FY 07 $28,000; FY 08 $28,000; and FY 09 $0.
Range and Average of Financial Assistance
Seventy-five percent of the funds appropriated shall be used for training and technical assistance of microentrepreneurs with no one organization receiving a single grant in excess of ten percent of the total funds appropriated for training and technical assistance, 15 percent of the total appropriated funds shall be directed to training and capacity building services to existing MDOs, and the remaining funds may be used for the research and development of best practices and other activities as the Administrator determines are consistent with the purposes of the Act.
Regulations, Guidelines, and Literature
The regulations are available in 13 CFR.
Regional or Local Office
Office of Financial Assistance Small Administration, 409 3rd Street, S.W., Washington, DC 20416. Program Contact: George Dale, Telephone: (202) 205-6515. www.sba.gov/financing/sbaloan/microloans.html.
Criteria for Selecting Proposals
Past performance, approach, personnel, and cost.
A¬†recruiting trends report¬†by Michigan State University‚Äôs (MSU) Collegiate Employment Research Institute discovers that¬†the financial services sector is decreasing the¬†hiring rate for Bachelor‚Äôs degrees from ‚Äúdouble-digit expansion‚ÄĚ.