Northeast entrepreneur fund INC. - MN
Ended Formula Grant Awarded
- Award ID
- SBAHQ24Y0074
- Recipient
-
Northeast Entrepreneur Fund, Inc. UEI XX8MXJNE8KK7
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $1,591,065
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Duluth, MN, USA
Award details come from USAspending.gov.
About this award
The Northeast Entrepreneur Fund, Inc. (doing business as Entrepreneur Fund) received a $1,591,065 Formula Grant award from the U.S. Small Business Administration's (SBA) Microloan Program (CFDA 59.046) to provide microloans up to $50,000 and accompanying technical assistance to support small businesses, particularly those owned by women, minorities, and low-income individuals in underserved communities in northern Minnesota and northwest Wisconsin. As a certified Community Development Financial Institution (CDFI), Entrepreneur Fund will use the grant funding to deliver a comprehensive range of services, including financing, strategic planning, risk assessment, training, and technical assistance to help entrepreneurs achieve success and profitability. The award has a performance period from July 1, 2024, to June 30, 2025. Entrepreneur Fund has also partnered with entities like the City of Duluth, Saint Louis County, and Local Initiatives Support Corporation to extend its services and support neighborhood business development initiatives.
Quick answers
Who received award SBAHQ24Y0074?
SBAHQ24Y0074 was awarded to Northeast Entrepreneur Fund, Inc. by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2024.
How much is award SBAHQ24Y0074 worth?
$1,591,065 has been obligated on SBAHQ24Y0074.
Which agency awarded SBAHQ24Y0074?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ24Y0074, with funding from Office of Capital Access (Small Business Administration).
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