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
- SBAHQ22Y0091
- Recipient
-
Maryland Capital Enterprises, Inc. UEI U5HXMZLLK3D8
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $204,317
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 (SBA) awarded a $204,317 Microloan Program Formula Grant to Maryland Capital Enterprises, Inc. for the period of July 1, 2022 to June 30, 2023. Under the SBA's Microloan Program (CFDA #59.046), the awardee will provide microloans and business training/technical assistance services to start-ups, new, and growing small businesses to assist underserved entrepreneurs and address credit needs in their service area. As a microlender, Maryland Capital Enterprises will leverage the federal funding to make small, short-term loans to local businesses, coupled with training and counseling to foster business creation and growth. The Microloan Program aims to stimulate and support small scale entrepreneurship in economically distressed areas.
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 SBAHQ22Y0091?
SBAHQ22Y0091 was awarded to Maryland Capital Enterprises, Inc. by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2022.
How much is award SBAHQ22Y0091 worth?
$204,317 has been obligated on SBAHQ22Y0091.
Which agency awarded SBAHQ22Y0091?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ22Y0091, with funding from Office of Capital Access (Small Business Administration).
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