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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: