Mountain bizcapital, INC. NC the small business administration (SBA) microloan program provides direct loans and grants to eligible non-profit microlenders so that they may provide micro-level…
Ended Formula Grant Awarded Last action
- Award ID
- SBAHQ21Y0035
- Recipient
-
Mountain Bizcapital Inc. UEI C6ULKFNE5985
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $1,030,849
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Asheville, NC, USA
Award details come from USAspending.gov.
About this award
The Small Business Administration (SBA) awarded a $1,030,849 Formula Grant to Mountain Bizcapital Inc. through the Microloan Program (CFDA #59.046) to provide microloans and business assistance services from July 1, 2021 to June 30, 2022. As a microlender under the SBA Microloan Program, Mountain Bizcapital Inc. will utilize the funding to issue micro-level loans of $50,000 or less to small businesses and entrepreneurs, as well as offer business training and technical assistance to support their start-up and growth. The Microloan Program aims to expand access to credit for women, low-income, and minority business owners in areas lacking financial access by leveraging a network of nonprofit microlending intermediaries.
Description
Mountain bizcapital, INC. NC 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 SBAHQ21Y0035?
SBAHQ21Y0035 was awarded to Mountain Bizcapital Inc. by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2021.
How much is award SBAHQ21Y0035 worth?
$1,030,849 has been obligated on SBAHQ21Y0035.
Which agency awarded SBAHQ21Y0035?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ21Y0035, with funding from Office of Capital Access (Small Business Administration).
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