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
- SBAHQ23Y0092
- Recipient
-
Coastal Enterprises, Inc. UEI D9YUK3WAJTX3
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $375,822
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Brunswick, ME 04011, USA
Award details come from USAspending.gov.
About this award
The Small Business Administration (SBA) awarded a $375,822 Microloan Program (CFDA 59.046) Formula Grant to Coastal Enterprises, a nonprofit community development financial institution (CDFI), to provide microloans, training, and technical assistance to start-up, newly established, and growing small business concerns. This one-year grant, effective July 1, 2023 through June 30, 2024, supports Coastal Enterprises' efforts to assist women, low-income, and minority entrepreneurs and small businesses in areas lacking access to credit. Coastal Enterprises partners with organizations such as the University of Maine System, University of New Hampshire, Local Initiatives Support Corporation, and the City of Portland to deliver these subcontracted goods and services under the Microloan Program.
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 SBAHQ23Y0092?
SBAHQ23Y0092 was awarded to Coastal Enterprises, Inc. by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2023.
How much is award SBAHQ23Y0092 worth?
$375,822 has been obligated on SBAHQ23Y0092.
Which agency awarded SBAHQ23Y0092?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ23Y0092, with funding from Office of Capital Access (Small Business Administration).
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