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
- SBAHQ23Y0096
- Recipient
-
Southwest Initiative Foundation UEI UHLCJGT4BZB5
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $211,004
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Hutchinson, MN 55350, USA
Award details come from USAspending.gov.
About this award
The Small Business Administration (SBA) has awarded a $211,004 Microloan Program (CFDA 59.046) Formula Grant to the Southwest Initiative Foundation, a non-profit organization based in Hutchinson, Minnesota. This grant, effective from July 1, 2023 to June 30, 2024, enables the Southwest Initiative Foundation to provide direct micro-loans and business training/technical assistance to start-up, newly established, and growing small businesses in its service area. The Microloan Program is designed to support women, low-income, and minority entrepreneurs, as well as small businesses in underserved communities that lack access to credit. Through this federal grant, the Southwest Initiative Foundation can deliver critical financing and capacity-building services to foster small business development and economic growth in its rural Minnesota community.
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 SBAHQ23Y0096?
SBAHQ23Y0096 was awarded to Southwest Initiative Foundation by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2023.
How much is award SBAHQ23Y0096 worth?
$211,004 has been obligated on SBAHQ23Y0096.
Which agency awarded SBAHQ23Y0096?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ23Y0096, with funding from Office of Capital Access (Small Business Administration).
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