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
- SBAHQ22Y0055
- Recipient
-
Grand Rapids Opportunities For Women UEI KNSAB2X8LTF9
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $389,752
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding
-
- $194,876.00 Federal
- $194,876.00 Non-federal
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Grand Rapids, MI, USA
Award details come from USAspending.gov.
About this award
The Small Business Administration (SBA) awarded $389,752 under the Microloan Program (CFDA #59.046) to Grand Rapids Opportunities For Women (GROW) from July 1, 2022 to June 30, 2023. This Formula Grant funding will enable GROW to provide microloans and business training/technical assistance services to start-ups, new, and growing small businesses in Grand Rapids, Michigan. The SBA Microloan Program aims to expand access to credit and build small business capacity in underserved communities through direct lending and assistance from nonprofit microlending organizations. With this award, GROW is well positioned to support women, low-income, and minority entrepreneurs in developing successful small enterprises and addressing the credit needs of the Grand Rapids area.
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 SBAHQ22Y0055?
SBAHQ22Y0055 was awarded to Grand Rapids Opportunities For Women by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2022.
How much is award SBAHQ22Y0055 worth?
$389,752 has been obligated on SBAHQ22Y0055: $194,876 in federal funding and $194,876 in non-federal funding.
Which agency awarded SBAHQ22Y0055?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ22Y0055, with funding from Office of Capital Access (Small Business Administration).
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