SBA Awards $5 Million in PRIME Grants to Non-Profits
Grants from the Program for Investment in Microentrepreneurs Act (PRIME) -- a program of the U.S. Small Business Administration-- were awarded to 58 non-profit organizations this week. PRIME grants were created to support low-income entrepreneurs and very low-income entrepreneurs in receiving training and technical assistance to launch, operate, and expand their ventures.
The SBA received over 400 submissions in the non-competitive application process which was open to microentrepreneurs in the U.S. as well as in U.S. territories. A microentrepreneur is identified as a small business with five or fewer employees and businesses owned by low-income individuals.
Grants ranged up to $250,000 and required a 50% match by the recipient organization.
Here are a few non-profit organizations that received PRIME grants for 2009:
- University of Alaska Anchorage (AK)
- California Association for MicroEnterprise Opportunity (CA)
- Pacific Asian Consortium in Employment (CA)
- Women's Initiative for Self Employment (CA)
- The Aspen Institute (DC)
- Neighborhood Self-Employment Initiative (IN)
- International Institute of Boston (MA)
- Microenterprise Council of Maryland (MD)
- American Indian Economic Development Fund (MN)
- Syracuse University (NY)
- Oregon Microenterprise Network (OR)
- Central Vermont Community Action Council (VT)
- Washington State Microenterprise Association (WA)
Related Resources:
- More than 50 Non-profit Organizations to Receive SBA PRIME Grants to Assist Micro Entrepreneurs [PDF] (SBA.gov)
- Five Bay Area nonprofits get SBA grants (San Francisco Business Times)
- Federal help for budding entrepreneurs in our area (TimesUnion.com)
- Non-Profit "Soft Money" Contribution Limit Rejected (FindLaw's Free Enterprise)
- 5 Things Non-Profits Should Know About Planned Giving (FindLaw's Free Enterprise)