The U.S. Small Business Administration (SBA) awarded a $511,248 Project Grant to Ascendus, Inc. (doing business as Accion USA) under the SBA Microloan Program (CFDA 59.046) to provide microloans and technical assistance to small businesses, particularly those owned by women, minorities, and low-income individuals in underserved communities. The funding, with a performance period from July 1, 2024 to June 30, 2025, will enable Ascendus to originate microloans up to $50,000 and deliver training, counseling, and other support services to microentrepreneurs and small business owners. Ascendus has previously received SBA Microloan and Prime Technical Assistance grants, as well as funding from the Treasury Department's CDFI Fund, to build the capacity of Community Development Financial Institutions serving economically distressed areas. Additionally, Ascendus provided one-on-one small business consulting and financial training to entrepreneurs in Miami-Dade County through a sub-award under the SBA's Community Navigator Pilot Program.
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