Program for Investment in Microentrepreneurs Act

The summary for the Program for Investment in Microentrepreneurs Act grant is detailed below. This summary states who is eligible for the grant, how much grant money will be awarded, current and past deadlines, Catalog of Federal Domestic Assistance (CFDA) numbers, and a sampling of similar government grants. Verify the accuracy of the data FederalGrants.com provides by visiting the webpage noted in the Link to Full Announcement section or by contacting the appropriate person listed as the Grant Announcement Contact. If any section is incomplete, please visit the website for the Small Business Administration, which is the U.S. government agency offering this grant.
Program for Investment in Microentrepreneurs Act: The U.S. Small Business Administration (SBA) has issued Funding Opportunity No. PRIME-2019-01 to provide training and capacity building grant programs to microenterprise development organizations (MDOs). The Program for Investment in Microentrepreneurs Act of 1999 (the PRIME Act) became law on November 12, 1999 with the passage of Pub. L. No. 106-102 (15 U.S.C. § 6901 note). The PRIME Act authorizes the SBA to provide funding to qualified organizations for the purposes of: (i) providing training and technical assistance to disadvantaged entrepreneurs; (ii) providing training and capacity building assistance to microenterprise development organizations (MDOs) and programs; (iii) aiding in Research and development of best practices for microenterprise and technical assistance programs for disadvantaged entrepreneurs; and (iv) for other activities as the SBA Administrator determines. In FY2019, PRIME has two tracks for which SBA will consider granting awards under this Funding Opportunity: Track 1 (Technical Assistance) – seeks applications for funding to provide training and technical assistance programs to disadvantaged entrepreneurs. Examples include training specifically designed to: (1) provides training and technical assistance to economically disadvantaged entrepreneurs in rural areas; and (2) training and technical assistance to support entrepreneurship in Hub Zones. 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. Examples include services geared towards building MDO capacity to provide business training and technical assistance to: (1) provides training and technical assistance to economically disadvantaged entrepreneurs in rural areas; and (2) training and technical assistance to support entrepreneurship in Hub Zones. View Section 3.0 of the Funding Opportunity for full eligibility criteria. Please note that for-profit organizations and individual persons are ineligible for this grant. 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 Funding Opportunity more fully defines the specific evaluation criteria. Questions about this Funding Opportunity should be directed to the Office of Economic Opportunity at prime@sba.gov.
Federal Grant Title: Program for Investment in Microentrepreneurs Act
Federal Agency Name: Small Business Administration (SBA)
Grant Categories: Business and Commerce
Type of Opportunity: Discretionary
Funding Opportunity Number: PRIME-2019-01
Type of Funding: Grant
CFDA Numbers: 59.050
CFDA Descriptions: Information not provided
Current Application Deadline: June 10th, 2019
Original Application Deadline: June 10th, 2019
Posted Date: May 10th, 2019
Creation Date: May 10th, 2019
Archive Date: July 10th, 2019
Total Program Funding: $5,000,000
Maximum Federal Grant Award: $250,000
Minimum Federal Grant Award: $75,000
Expected Number of Awards: 30
Cost Sharing or Matching: Yes
Last Updated: May 10th, 2019
Applicants Eligible for this Grant
Others (see text field entitled "Additional Information on Eligibility" for clarification.)
Additional Information on Eligibility
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.
Grant Announcement Contact
Robert Karasek
Program Officer
Phone 202-205-7171
GOTR
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