Northern great lakes initiatives - MI
Ended Formula Grant Awarded
- Award ID
- SBAHQ24Y0102
- Recipient
-
Northern Great Lakes Initiatives UEI XKLQDKGBJY15
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $394,260
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Marquette Township, MI, USA
Award details come from USAspending.gov.
About this award
The Small Business Administration's Microloan Program (CFDA 59.046) awarded a $394,260 Formula Grant to Northern Great Lakes Initiatives, a non-profit organization and community development corporation located in Marquette, Michigan. This grant funding will support Northern Great Lakes Initiatives in providing small business financing, training, and technical assistance to entrepreneurs, including women, minorities, and low-income individuals in the Northern Great Lakes region.
Specifically, the grant will enable Northern Great Lakes Initiatives to offer microloans up to $50,000 to start-up and growing small businesses, as well as deliver training and advisory services to microloan borrowers. The organization has a track record of leveraging federal grant funding to foster small business growth, create jobs, provide pandemic relief lending, and build organizational capacity. As a sub-awardee, Northern Great Lakes Initiatives has also utilized grant funding from other sources to offer business coaching, training, and assistance to minority entrepreneurs and manufacturers in specific geographic areas.
Quick answers
Who received award SBAHQ24Y0102?
SBAHQ24Y0102 was awarded to Northern Great Lakes Initiatives by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2024.
How much is award SBAHQ24Y0102 worth?
$394,260 has been obligated on SBAHQ24Y0102.
Which agency awarded SBAHQ24Y0102?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ24Y0102, with funding from Office of Capital Access (Small Business Administration).
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