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
- SBAHQ22Y0042
- Recipient
-
Ascendus, Inc. UEI MC9ERZDUPJT8
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $1,921,048
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding
-
- $960,524.00 Federal
- $960,524.00 Non-federal
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- New York, NY, USA
Award details come from USAspending.gov.
About this award
The Small Business Administration (SBA) awarded a $1.92 million Formula Grant to Ascendus, Inc. doing business as Accion USA through the Microloan Program (CFDA #59.046) to provide microloans and business training/technical assistance to small businesses from July 2022 to June 2023. The Microloan Program aims to assist entrepreneurs and business owners in underserved areas through direct loans of up to $50,000 and grants to intermediary microlenders. As the sub-awardee, Accion USA will leverage this funding to issue microloans under $50k and offer entrepreneurship training and support services to startups and growing small businesses in New York, NY, helping address the lack of access to credit these individuals face.
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 SBAHQ22Y0042?
SBAHQ22Y0042 was awarded to Ascendus, Inc. by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2022.
How much is award SBAHQ22Y0042 worth?
$1,921,048 has been obligated on SBAHQ22Y0042: $960,524 in federal funding and $960,524 in non-federal funding.
Which agency awarded SBAHQ22Y0042?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ22Y0042, with funding from Office of Capital Access (Small Business Administration).
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