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
- SBAHQ22Y0063
- Recipient
-
Pacific Asian Consortium In Employment UEI F9FNM8MD24F3
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $220,483
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Los Angeles, CA, USA
Award details come from USAspending.gov.
About this award
The Small Business Administration (SBA) awarded $220,483 under the Microloan Program (CFDA #59.046) to Pacific Asian Consortium In Employment (PACE) located in Los Angeles, California. The Formula Grant will provide microloans and business training/technical assistance services to start-ups, new, and growing small businesses through June 30, 2023.
The SBA Microloan Program aims to assist women, low-income, and minority entrepreneurs in underserved areas through intermediary lenders. As a microlender, PACE will use the funding to issue micro-level loans of $50,000 or less to qualifying small businesses, along with accompanying entrepreneurship training and support services, to promote business formation and economic development in Los Angeles.
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 SBAHQ22Y0063?
SBAHQ22Y0063 was awarded to Pacific Asian Consortium In Employment by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2022.
How much is award SBAHQ22Y0063 worth?
$220,483 has been obligated on SBAHQ22Y0063.
Which agency awarded SBAHQ22Y0063?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ22Y0063, with funding from Office of Capital Access (Small Business Administration).
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