Life asset INC. - DC
Ended Formula Grant Awarded
- Award ID
- SBAHQ24Y0114
- Recipient
-
Life Asset, Inc. UEI N2DMZ185AJH7
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $336,199
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Washington, DC, USA
Award details come from USAspending.gov.
About this award
The U.S. Small Business Administration (SBA) awarded a $336,199 Formula Grant to Life Asset, Inc., a nonprofit organization in Washington, DC, under the SBA Microloan Program (CFDA 59.046). The grant funds will be used by Life Asset, Inc. to provide microloans up to $50,000 and technical assistance to women, low-income, and minority entrepreneurs and small businesses in underserved communities, with the goal of fostering entrepreneurship and economic development. Life Asset, Inc. has a history of delivering similar products and services through federal grants, including from the Community Development Financial Institutions Fund. This award, with a performance period from July 1, 2024, to June 30, 2025, is part of the SBA's consistent pattern of funding microfinance intermediaries across the United States to expand access to credit and business support for disadvantaged populations.
Quick answers
Who received award SBAHQ24Y0114?
SBAHQ24Y0114 was awarded to Life Asset, Inc. by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2024.
How much is award SBAHQ24Y0114 worth?
$336,199 has been obligated on SBAHQ24Y0114.
Which agency awarded SBAHQ24Y0114?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ24Y0114, with funding from Office of Capital Access (Small Business Administration).
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