Coastal enterprises, INC., me 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,…
Ended Formula Grant Awarded Last action
- Award ID
- SBAHQ21Y0089
- Recipient
-
Coastal Enterprises, Inc. UEI D9YUK3WAJTX3
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $419,195
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Brunswick, ME 04011, USA
Award details come from USAspending.gov.
About this award
The Small Business Administration (SBA) awarded Coastal Enterprises, Inc. a $419,195 Formula Grant under the Microloan Program (CFDA #59.046) to provide microloans and business assistance services from July 1, 2021 to June 30, 2022. The Microloan Program aims to assist entrepreneurs, business owners, and individuals in underserved areas by providing small, short-term loans and training to start-up and growing small businesses. As the sub-awardee, Coastal Enterprises will use the grant funding to issue microloans of $50,000 or less to eligible small businesses and independently provide business training and technical assistance services to support borrowers. The grant funds and services are intended to expand access to capital and business development resources for entrepreneurs in underserved areas along the Maine coast who may lack other credit options.
Description
Coastal enterprises, INC., me 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 SBAHQ21Y0089?
SBAHQ21Y0089 was awarded to Coastal Enterprises, Inc. by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2021.
How much is award SBAHQ21Y0089 worth?
$419,195 has been obligated on SBAHQ21Y0089.
Which agency awarded SBAHQ21Y0089?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ21Y0089, with funding from Office of Capital Access (Small Business Administration).
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