Microloan program
Ended Project Grant Awarded Last action
- Award ID
- SBAHQ22Y0128
- Recipient
-
Northeast South Dakota Economic Corp UEI YR2KCN9TXZQ4
- Awarding agency
-
Office of the Chief Operating Officer
Small Business Administration
- Obligated
- $145,000
Award facts
- Assistance listing
- 59.046 Microloan Program
- Completion date
- Funding agency
- Office of Capital Access Small Business Administration
- Place of performance
- Sisseton, SD 57262, USA
Award details come from USAspending.gov.
About this award
The Small Business Administration Office of Capital Access awarded a $145,000 Project Grant to the Northeast South Dakota Economic Corporation (Nesdec) through the Microloan Program (CFDA 59.046). Nesdec will provide microloans to small businesses and entrepreneurs in Sisseton, South Dakota from July 1, 2022 to June 30, 2023.
The Microloan Program aims to assist women, low-income, and minority entrepreneurs and small business owners in underserved areas lacking access to credit. Nesdec will leverage the $145k SBA grant to issue smaller, affordable loans to local businesses and entrepreneurs to help them start up and expand their operations. This funding supports the Microloan Program's goal of promoting economic development in Sisseton by helping provide necessary financing to small ventures that may otherwise struggle to access capital.
Quick answers
Who received award SBAHQ22Y0128?
SBAHQ22Y0128 was awarded to Northeast South Dakota Economic Corp by Office of the Chief Operating Officer (Small Business Administration) on July 1, 2022.
How much is award SBAHQ22Y0128 worth?
$145,000 has been obligated on SBAHQ22Y0128.
Which agency awarded SBAHQ22Y0128?
Office of the Chief Operating Officer (Small Business Administration) awarded SBAHQ22Y0128, with funding from Office of Capital Access (Small Business Administration).
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