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
- SBAHQ23Y0016
- Recipient
-
Small Business Assistance Corp UEI FNVAFCWHJ4G9
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $256,136
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Savannah, GA, USA
Award details come from USAspending.gov.
About this award
The Small Business Administration (SBA) awarded a $256,136 Formula Grant to the Small Business Assistance Corporation (SBAC) through the Microloan Program (CFDA 59.046) to provide microloans, training, and technical assistance to start-up and growing small businesses in Savannah, Georgia from July 1, 2023 to June 30, 2024. As a non-profit business development organization licensed by SBA, SBAC utilizes the funding to deliver micro-level loans of $100k or less along with business training and technical support to entrepreneurs and small business owners, especially those in underserved areas lacking access to credit. SBAC has extensive experience administering similar SBA and Department of Treasury grant programs aimed at expanding lending and investments to minority-owned businesses impacted by the Covid-19 pandemic.
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 SBAHQ23Y0016?
SBAHQ23Y0016 was awarded to Small Business Assistance Corp by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2023.
How much is award SBAHQ23Y0016 worth?
$256,136 has been obligated on SBAHQ23Y0016.
Which agency awarded SBAHQ23Y0016?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ23Y0016, with funding from Office of Capital Access (Small Business Administration).
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