Maryland capital enterprises, INC., MD 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
- SBAHQ21Y0116
- Recipient
-
Maryland Capital Enterprises, Inc. UEI U5HXMZLLK3D8
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $270,711
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Salisbury, MD, USA
Award details come from USAspending.gov.
About this award
The Small Business Administration's Microloan Program awarded $270,711 to Maryland Capital Enterprises, Inc. through Formula Grant CFDA #59.046 to provide microloans and business assistance to small businesses in Salisbury, Maryland from July 1, 2021 to June 30, 2022. As an intermediary lender, Maryland Capital Enterprises will use the funding to issue microloans of $50,000 or less to eligible startup, newly established, and growing small business concerns. It will also offer entrepreneurial development workshops and one-on-one business counseling to help microloan borrowers strengthen their business models and long-term prospects for success. The Microloan Program aims to expand access to credit and support for women, minority, and low-income entrepreneurs in underserved communities through a nationwide network of nonprofit microlending intermediaries.
Description
Maryland capital enterprises, INC., MD 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 SBAHQ21Y0116?
SBAHQ21Y0116 was awarded to Maryland Capital Enterprises, Inc. by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2021.
How much is award SBAHQ21Y0116 worth?
$270,711 has been obligated on SBAHQ21Y0116.
Which agency awarded SBAHQ21Y0116?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ21Y0116, with funding from Office of Capital Access (Small Business Administration).
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