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
- SBAHQ23Y0090
- Recipient
-
Utah Microenterprise Loan Fund UEI ZKJ1NLNX1B13
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $175,000
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Salt Lake City, UT, USA
Award details come from USAspending.gov.
About this award
The U.S. Small Business Administration (SBA) awarded a $175,000 Formula Grant under the Microloan Program (CFDA 59.046) to the Utah Microenterprise Loan Fund (UMLS), a nonprofit microlender. The Microloan Program aims to assist women, low-income, and minority entrepreneurs, business owners, and others with the capability to operate successful businesses, especially in areas lacking access to credit.
Through this SBA Microloan Program grant, UMLS will provide microloans under $50,000 as well as business training and technical assistance to start-up, newly established, and growing small business concerns in underserved communities. As an SBA microlender intermediary, UMLS uses this annual formula grant funding to deliver critical access to capital and support services that empower entrepreneurs and foster small business growth in its local area of Salt Lake City, UT.
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 SBAHQ23Y0090?
SBAHQ23Y0090 was awarded to Utah Microenterprise Loan Fund by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2023.
How much is award SBAHQ23Y0090 worth?
$175,000 has been obligated on SBAHQ23Y0090.
Which agency awarded SBAHQ23Y0090?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ23Y0090, with funding from Office of Capital Access (Small Business Administration).
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