The U.S. Small Business Administration (SBA) is seeking proposals through its Program for Investment in Microentrepreneurs (PRIME) 2024 grant opportunity. The purpose is to provide funding to private, non-profit microenterprise development organizations; microenterprise development programs run by state, local, or tribal governments; or Indian tribes. The funding will support two tracks - Track I for training and technical assistance to disadvantaged entrepreneurs, and Track II for training and capacity building services to microenterprise development organizations. Applicants must meet specific eligibility requirements and the proposals will be evaluated based on established criteria. The deadline for submitting proposals is April 30, 2024.
SBA expects to award up to $7 million through this opportunity, with a minimum of 75% allocated to Track I and 15% to Track II. Individual awards are anticipated to range from $75,000 to $300,000 for Track I and $75,000 to $400,000 for Track II. The grant period is for one year, likely starting September 30, 2024. Applicants are required to provide a 50% non-federal match, though waivers may be granted.
Generated 4/6/24, 6:18 AM