MICRO-2020-02

To assist women, low-income, and minority entrepreneurs, business owners, and other individuals possessing the capability to operate successful business concerns and to assist small business concerns in those areas suffering from a lack of credit due to economic downturns.

Under the Program, the

credit:


Small Business Administration (SBA) will make loans or provide guaranties to private, non-profit, and quasi-governmental organizations (intermediary lenders) that will use the loan funds to make short-term, fixed interest rate microloans in amounts up to $50,000 to start-up, newly established, and growing small business concerns.

These microloans are to be used exclusively for working capital, inventory, supplies, furniture, fixtures, machinery, and/or equipment.

In addition, the SBA will make grants to participating intermediary lenders to provide marketing, management, and technical assistance to prospective borrowers and borrowers receiving microloans.

Under the Program, SBA will also provide training for intermediary lenders participating in the Program.
Related Programs

Microloan Program

Small Business Administration


Agency: Small Business Administration

Office: Small Business Administration

Estimated Funding: $346,000





Obtain Full Opportunity Text:
MICRO-2020-02

Additional Information of Eligibility:
Other Eligible Applicants include the following: Alaska Native and Native Hawaiian Serving Institutions; Asian American Native American Pacific Islander Serving Institutions (AANAPISISs); Eligible Agencies of the Federal Government; Faith-based or Community-based Organizations; Hispanic-serving Institutions; Historically Black Colleges and Universities (HBCUs); Indian/Native American Tribal Governments (Other than Federally Recognized); Non-domestic (non-U.S.) Entities (Foreign Organizations); Regional Organizations; Tribally Controlled Colleges and Universities (TCCUs) ; U. S. Territory or Possession.

Full Opportunity Web Address:
https://www.grantsolutions.gov/gs/preaward/previewPublicAnnouncement.do?id=65442

Contact:


Agency Email Description:
Grants.gov Customer Support

Agency Email:


Date Posted:
2020-03-03

Application Due Date:


Archive Date:
2020-05-03



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