prime 2015-01 synopsis (final) (3).docx

Eligibility Explanation:

An applicant must clearly demonstrate that it is one of the following:

· A microenterprise development organization or program (or group or Collaborative thereof) such as a non-profit Community Development Financial Institution or similar entity, that has a demonstrated record of delivering microenterprise services to disadvantaged entrepreneursor

· An Intermediary (as defined in Section 8.1) which has experience in delivering technical assistance to disadvantaged entrepreneurs; or

· A microenterprise development organization or program (as defined in Section 8.1) that is accountable to a local community, working in conjunction with a State or local government or Indian Tribe; or

· An Indian tribe acting on its own, if it can certify that no private organization or program referred to in paragraph in paragraphs (1) exists within its jurisdiction.

Cost Sharing or Matching Requirement: Yes, 50%.

Expected Number of Awards:

SBA anticipates issuing approximately 35 awards under this Announcement. The period of performance for this grant will begin during FY 2015.

Estimated Total Program Funding: Up to $5 Million Award Ceiling: $250,000 Award Floor: $50,000 Funding Opportunity Text Description:

The U.S. Small Business Administration (SBA) has issued Program Announcement No. PRIME-2015-01 to provide training and capacity building grant programs to microenterprise development organizations (MDOs).

SBA will evaluate applications for funding in accordance with the purposes of the Act, including an application’s ability to demonstrate mission-oriented and culturally competent projects and/or services that reflect local community demographics. Section 5.0 of the Program Announcement more fully defines the specific evaluation criteria. PRIME has two tracks for which SBA will consider granting awards under this program announcement.

· Track 1 - seeks applications for funding to provide training and technical assistance programs to disadvantaged entrepreneurs including training specifically designed to implement automated financial accounting, financial reporting, and inventory management systems, etc.

· Track 2 (Capacity Building) – seeks applications for funding to provide training and capacity building services to MDOs, microenterprise development programs, and groups of such organizations to assist them in developing microenterprise training and services, including services geared towards building MDO capacity to provide business training and technical assistance that will improve the ability of small businesses.

Questions about this Program Announcement should be directed to the Office of Economic Opportunity at prime@sba.gov.