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…
Ended Formula Grant Awarded Last action
- Award ID
- SBAHQ21Y0096
- Recipient
-
Adirondack Economic Development Corporation UEI E1NJH1X61A36
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $163,739
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Saranac Lake, NY, USA
Award details come from USAspending.gov.
About this award
The Small Business Administration (SBA) awarded $163,739 under the Microloan Program (CFDA #59.046) to the Adirondack Economic Development Corporation (A E D C) located in Saranac Lake, New York. This Formula Grant will support A E D C's provision of microloans and business training/technical assistance services to small businesses and entrepreneurs from July 1, 2021 to June 30, 2022.
The SBA Microloan Program aims to foster entrepreneurship and economic development in underserved communities through direct lending and capacity-building support. A E D C will utilize the funding to provide micro-level loans of $50,000 or less to eligible start-ups, new businesses and growing small concerns. It will also offer business-based training and technical assistance to loan recipients to help them successfully start and manage their operations.
Description
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 SBAHQ21Y0096?
SBAHQ21Y0096 was awarded to Adirondack Economic Development Corporation by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2021.
How much is award SBAHQ21Y0096 worth?
$163,739 has been obligated on SBAHQ21Y0096.
Which agency awarded SBAHQ21Y0096?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ21Y0096, with funding from Office of Capital Access (Small Business Administration).
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