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
- SBAHQ22Y0059
- Recipient
-
BOC Capital Corp. UEI DYFJKCT5WUD9
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $1,517,232
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding
-
- $758,616.00 Federal
- $758,616.00 Non-federal
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Brooklyn, NY, USA
Award details come from USAspending.gov.
About this award
The Small Business Administration (SBA) awarded a $1.5 million Formula Grant to BOC Capital Corp. under the Microloan Program (CFDA #59.046) to provide microloans and business assistance services from July 1, 2022 to June 30, 2023. As a microlender, BOC Capital Corp. will use this funding to issue micro-level loans of under $50k to start-up, newly established, and growing small businesses in Brooklyn, New York. It will also offer business training and technical assistance to these entrepreneurs, in line with the Microloan Program's goal of expanding access to credit for women, low-income, and minority business owners in underserved areas. The award will allow BOC Capital Corp. to strengthen local entrepreneurship and economic opportunity through targeted small dollar lending and entrepreneurship support services over the coming year.
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 SBAHQ22Y0059?
SBAHQ22Y0059 was awarded to BOC Capital Corp. by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2022.
How much is award SBAHQ22Y0059 worth?
$1,517,232 has been obligated on SBAHQ22Y0059: $758,616 in federal funding and $758,616 in non-federal funding.
Which agency awarded SBAHQ22Y0059?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ22Y0059, with funding from Office of Capital Access (Small Business Administration).
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