Access to capital
Active Project Grant Awarded Last action
- Award ID
- ARC25C22062
- Recipient
-
Mountain Bizcapital Inc. UEI C6ULKFNE5985
- Awarding agency
- Appalachian Regional Commission
- Obligated
- $6,500,000
Award facts
- Assistance listing
- 23.011 Appalachian Research, Technical Assistance, and Demonstration Projects
- Completion date 3% complete
- Funding
-
- $3,500,000.00 Federal
- $3,000,000.00 Non-federal
- Place of performance
- North Carolina, USA
Award details come from USAspending.gov.
About this award
This federal Project Grant award of $6,500,000 was provided by the Appalachian Regional Commission (ARC) under the Appalachian Research, Technical Assistance, and Demonstration Projects program (CFDA 23.011) and awarded to Mountain Bizcapital Inc. on October 1, 2024. The funding supports Mountain Bizcapital's mission to generate jobs and economic resilience in rural Western North Carolina by providing a range of financial and technical assistance services to underserved entrepreneurs, particularly women, minorities, and low-income individuals. These services include microloans up to $50,000, business coaching, entrepreneurship education, and technical assistance aimed at establishing, strengthening, and expanding small business operations in economically distressed areas with limited access to traditional credit and resources. As a certified Community Development Financial Institution (CDFI), Mountain Bizcapital leverages both federal and local resources to deliver these services, which are designed to address economic, social, and infrastructure challenges across the Appalachian region.
Quick answers
Who received award ARC25C22062?
ARC25C22062 was awarded to Mountain Bizcapital Inc. by Appalachian Regional Commission on October 1, 2024.
How much is award ARC25C22062 worth?
$6,500,000 has been obligated on ARC25C22062: $3,500,000 in federal funding and $3,000,000 in non-federal funding.
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