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
- SBAHQ23Y0129
- Recipient
-
Mountain Bizcapital Inc. UEI C6ULKFNE5985
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $792,914
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Asheville, NC, USA
Award details come from USAspending.gov.
About this award
The Small Business Administration (SBA) has awarded a $792,914 Microloan Program (CFDA 59.046) formula grant to Mountain Bizcapital Inc., a non-profit community development organization based in Asheville, NC. This grant provides direct lending capital and resources to support Mountain Bizcapital's delivery of microloans, business training, and technical assistance to start-up, newly established, and growing small businesses, with a focus on women, low-income, and minority entrepreneurs.
As a subrecipient, Mountain Bizcapital has also received funding from the City of Asheville to provide coaching, business classes, and microloan access to low-income entrepreneurs. Through this federal and local grant funding, Mountain Bizcapital aims to support microenterprise development and expand access to credit in economically distressed and underserved communities.
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 SBAHQ23Y0129?
SBAHQ23Y0129 was awarded to Mountain Bizcapital Inc. by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2023.
How much is award SBAHQ23Y0129 worth?
$792,914 has been obligated on SBAHQ23Y0129.
Which agency awarded SBAHQ23Y0129?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ23Y0129, with funding from Office of Capital Access (Small Business Administration).
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