To assist women, low-income, and minority entrepreneurs, business owners, and other individuals possessing the capability to operate successful business concerns and to assist small business…

The Small Business Administration (SBA) awarded a $1,083,130.00 Project Grant under the Microloan Program (CFDA 59.046) to Access To Capital For Entrepreneurs, Inc., a non-profit community development organization. The grant funding will be used to provide short-term microloans up to $50,000 to start-up, newly established, and growing small businesses, particularly those owned by women, minorities, and low-income entrepreneurs in underserved areas of Georgia. In addition to the microloans, the grant enables Access To Capital For Entrepreneurs to offer marketing, management, and technical assistance to prospective borrowers and existing microloan recipients. The award period runs from July 1, 2024 to June 30, 2025 and is designed to help remove barriers to capital access and support economic development in communities experiencing economic challenges or lacking traditional credit access.

To assist women, low-income, and minority entrepreneurs, business owners, and other individuals possessing the capability to operate successful business concerns and to assist small business concerns in those areas suffering from a lack of credit due to economic downturns. Under the program, the small business administration (SBA) will make loans or provide guaranties to private, non-profit, and quasi-governmental organizations (intermediary lenders) that will use the loan funds to make short-term, fixed interest rate microloans in amounts up to $50,000 to start-up, newly established, and growing small business concerns. These microloans are to be used exclusively for working capital, inventory, supplies, furniture, fixtures, machinery, and/or equipment. In addition, the SBA will make grants to participating intermediary lenders to provide marketing, management, and technical assistance to prospective borrowers and borrowers receiving microloans. Under the program, SBA will also provide training for intermedi