Neighborhood development center - FY 23 congressional community project funding

The U.S. Small Business Administration (SBA) awarded a $1,600,000 Congressional Grants Program (CFDA 59.059) Project Grant to Neighborhood Development Center Inc., a non-profit community development corporation in St. Paul, Minnesota. The grant will fund a 5-year initiative to support small business development and entrepreneurship, including providing direct microloans under $50,000, pre-loan business planning assistance, post-loan technical support, training services, and operational guidance to start-up and growing small businesses in low- to moderate-income and underserved communities. The award will also enable Neighborhood Development Center Inc. to partner with the City of Minneapolis to deliver business assistance technical services as a sub-recipient, and to operate an entrepreneur incubator facility supported by an Administration for Children and Families grant. This funding supports Neighborhood Development Center Inc.'s mission to foster entrepreneurship, job creation, and economic development in communities disproportionately impacted by the COVID-19 pandemic.