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
- SBAHQ23Y0086
- Recipient
-
People Incorporated Of Virginia UEI W3YDLBPBALF7
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $605,301
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Abingdon, VA, USA
Award details come from USAspending.gov.
About this award
The Small Business Administration (SBA) Microloan Program provided a $605,301 formula grant award to People Incorporated of Virginia, a non-profit community development organization, to support the delivery of microloans and business training/technical assistance to start-up, newly established, and growing small business concerns. This award, with a performance period of July 1, 2023 to June 30, 2024, is funded under the SBA's Microloan Program (CFDA 59.046), which aims to assist women, low-income, and minority entrepreneurs and business owners in areas lacking access to credit. Through this federal grant, People Incorporated of Virginia will leverage its expertise as a microlender to provide over $600,000 in microloans and technical support to facilitate the success of small businesses in its service area.
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 SBAHQ23Y0086?
SBAHQ23Y0086 was awarded to People Incorporated Of Virginia by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2023.
How much is award SBAHQ23Y0086 worth?
$605,301 has been obligated on SBAHQ23Y0086.
Which agency awarded SBAHQ23Y0086?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ23Y0086, with funding from Office of Capital Access (Small Business Administration).
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