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SBA Awards $5 Million in PRIME Grants to Non-Profits

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By Neetal Parekh on October 06, 2009 2:45 AM

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)

 

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