Kentucky highlands investment corporation, KY the small business administration (SBA) microloan program provides direct loans and grants to eligible non-profit microlenders so that they may provide…
Ended Formula Grant Awarded Last action
- Award ID
- SBAHQ21Y0031
- Recipient
-
Kentucky Highlands Investment Corporation UEI SG71HEA776D9
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $490,128
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- London, KY, USA
Award details come from USAspending.gov.
About this award
The Small Business Administration (SBA) awarded $490,128 under the Microloan Program (CFDA #59.046) to Kentucky Highlands Investment Corporation. This Formula Grant will support Kentucky Highlands in providing microloans and business assistance to entrepreneurs and small business owners from July 2021 to June 2022.
As an intermediary lender under the SBA Microloan Program, Kentucky Highlands will utilize the funding to issue micro-level loans of $50,000 or less to eligible startup, newly established, and growing small businesses. It will also offer business training and technical assistance to help borrowers develop successful business plans and financial management strategies. The Microloan Program aims to expand access to credit and build small business capacity in underserved communities through local nonprofit microlenders.
Description
Kentucky highlands investment corporation, KY the small business administration (SBA) microloan program provides direct loans and grants to eligible non-profit microlenders so that they may provide micro-level loans, and business based training and technical assistance to start- up, newly established and growing small business concerns.
Quick answers
Who received award SBAHQ21Y0031?
SBAHQ21Y0031 was awarded to Kentucky Highlands Investment Corporation by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2021.
How much is award SBAHQ21Y0031 worth?
$490,128 has been obligated on SBAHQ21Y0031.
Which agency awarded SBAHQ21Y0031?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ21Y0031, with funding from Office of Capital Access (Small Business Administration).
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