SBA PRIME Grants to Assist Micro Entrepreneurs

The U. S. Small Business Administration announced today that 58 non-profit organizations from 32 states and the will receive grant funding under the Program for Investment in Microentrepreneurs Act (PRIME) to assist low-income and very low-income entrepreneurs with training and technical assistance to start, operate, and grow their businesses.

SBA’s PRIME grant funding is intended to establish management and technical assistance, access to capital and other forms of financial assistance, and business training and counseling through qualified organizations to small businesses with five or fewer employees that are economically disadvantaged, and to businesses owned by low-income individuals, including those residing on Indian reservations and tribal lands.

The grant funding received will be used to provide training and technical assistance to disadvantaged microentrepreneurs, to provide capacity building services to organizations that assist with microenterprise training and services, and to aid in researching and developing the best practices in the field of microenterprise development and technical assistance programs for disadvantaged microentrepreneurs.

In the state of MN, the following grant was awarded;

American Indian Econ. Development Fund - $50,000