Program For Investment In Microentrepreneurs

The summary for the Program For Investment In Microentrepreneurs 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: SBA intends to award a discretionary grant to the National Association of GovernmentGuaranteed Lenders (NAGGL) for the purpose of providing SBA 7(a) training to nonprofit lenders participating in the SBA Community Advantage Pilot Loan Program(CA). NAGGL has extensive experience with providing training to lenders on SBA's 7(a)loan product in the areas of loan origination, loan servicing and loan liquidation. Thisdiscretionary grant will serve as a proof of concept to explore the success of regionaltraining to mission lenders participating in CA. These training needs have beenidentified by SBA's Office of Credit Risk Management to increase the performancelevel of lenders participating in the CA program. SBA will work closely with NAGGL inshaping the project as it is implemented and will draw lessons learned from itsimplementation and use that insight and experience in deciding whether or not tocontinue the initiative in a permanent form, which we would then do via the standardcompetitive process for awarding grants.