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…

The Small Business Administration (SBA) awarded a $661,624 Formula Grant under the Microloan Program (CFDA 59.046) to the non-profit organization Ascendus, Inc. (doing business as Accion USA). The grant, effective July 1, 2023 through June 30, 2024, will enable Ascendus to provide direct loans and technical assistance to start-up, newly established, and growing small business concerns, with a focus on women, low-income, and minority entrepreneurs and business owners in areas lacking access to credit. Through the SBA Microloan Program, Ascendus will originate microloans under $50,000 and deliver business-based training and counseling to eligible microentrepreneurs and small business owners. Additionally, the organization has received sub-award funding through the SBA Community Navigator Pilot Program to provide one-on-one consulting and financial training to pre-venture entrepreneurs and existing small businesses in Miami-Dade County.

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.