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
- SBAHQ23Y0131
- Recipient
-
Nybdc Local Development Corp UEI L2U5DBNNJTX1
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $2,169,434
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Albany, NY, USA
Award details come from USAspending.gov.
About this award
The U.S. Small Business Administration (SBA) awarded a $2,169,434 Microloan Program (CFDA 59.046) formula grant to Nybdc Local Development Corp, a nonprofit community development corporation and certified community development financial institution (CDFI). The grant, with a performance period from July 1, 2023 to June 30, 2024, enables Nybdc Local Development Corp to provide direct microloans under $100,000 and business training/technical assistance services to women, minority, and low-income entrepreneurs and small businesses in the Albany, NY area. As a subrecipient, Nybdc Local Development Corp also leverages this funding to support entrepreneurship programs for veterans. The SBA Microloan Program aims to assist small businesses lacking access to credit in economically disadvantaged areas.
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 SBAHQ23Y0131?
SBAHQ23Y0131 was awarded to Nybdc Local Development Corp by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2023.
How much is award SBAHQ23Y0131 worth?
$2,169,434 has been obligated on SBAHQ23Y0131.
Which agency awarded SBAHQ23Y0131?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ23Y0131, with funding from Office of Capital Access (Small Business Administration).
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