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
- SBAHQ23Y0052
- Recipient
-
Redec Relending Corp UEI P21SFLLDCAS6
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $104,793
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Painted Post, NY, USA
Award details come from USAspending.gov.
About this award
The Small Business Administration (SBA) awarded a $104,793 Formula Grant under the Microloan Program (CFDA #59.046) to Redec Relending Corp, a non-profit organization located in Painted Post, NY. This grant funding will enable Redec Relending to provide microloans under $50,000 as well as business training and technical assistance to start-up, newly established, and growing small businesses, with a focus on serving women, low-income, and minority entrepreneurs who lack access to credit. Through the SBA Microloan Program, Redec Relending leverages federal funding to support small business development and growth in its local community. This one-year award, effective July 1, 2023 through June 30, 2024, is part of the SBA's broader initiative to foster entrepreneurial success and economic opportunity, particularly in underserved populations and 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 SBAHQ23Y0052?
SBAHQ23Y0052 was awarded to Redec Relending Corp by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2023.
How much is award SBAHQ23Y0052 worth?
$104,793 has been obligated on SBAHQ23Y0052.
Which agency awarded SBAHQ23Y0052?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ23Y0052, with funding from Office of Capital Access (Small Business Administration).
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