The U.S. Small Business Administration (SBA) awarded a $709,225 Project Grant on July 1, 2024 to Ecdc Enterprise Development Group (Ecdc Enterprise Dev) under the SBA's Microloan Program (CFDA 59.046). This grant funding will enable Ecdc Enterprise Dev, a non-profit organization and community development corporation, to provide microloans up to $50,000 and technical assistance to start-up, newly established, and growing small businesses owned by women, low-income, and minority entrepreneurs. The microloans can be used for working capital, inventory, supplies, furniture, fixtures, machinery, and equipment. Additionally, the SBA grant will support Ecdc Enterprise Dev in delivering marketing, management, and technical assistance to prospective borrowers and microloan recipients. This funding aims to increase access to capital and financial services for underserved small business owners in economically disadvantaged areas.
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