Grant Opportunity: Program for Investment in Microentrepreneurs – PRIME
Opportunity Number: PRIME-2014-01
This Program Announcement is to invite proposals for funding from private, non-profit microenterprise development organizations; microenterprise development programs run by State/Local/Tribal Governments; or Indian tribes interested in providing assistance and guidance to disadvantaged microentrepreneurs and/or microenterprise development organizations. Click here for more information.
Opportunity Title: Program for Investment in Microentrepreneurs Act CFDA Numbers: 59.050
Activity Category: Business and Commerce Posting Date: June 6, 2014 Close Date: July 14, 2014 Agency Contact: Microenterprise Development Division E-Mail Address: Prime@sba.gov
Eligibility Explanation: 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 entrepreneurs; or ;
An Intermediary 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.
Expected Number of Awards: SBA anticipates issuing 40 awards under this Announcement. The period of performance for this grant will begin during F Y 2014. Estimated Total Program Funding: $3.5 Million Award Ceiling: $350,000 Award Floor: $50,000
PRIME has three tracks for which SBA will consider granting awards under this program announcement.
Track 1 – seeks applications for funding to provide training and technical assistance programs to disadvantaged entrepreneurs including training specifically designed to implement automated financial accounting, financial reporting, and inventory management systems, etc. (see paragraph 4.1.2) and/or promote and develop worker ownership and worker owned cooperatives especially for low and moderate income earners as owners/members.
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, including services geared towards building MDO capacity to provide business training and technical assistance that will improve the ability of small businesses, including members of worker owned cooperatives, to be profitable by means of implementing automated business systems or the promotion and training of worker ownership models as a business ownership and succession strategy or ownership model.
Track 3 (Research and Development) – seeks applications for funding to (a) develop a PRIME activity reporting system compatible with existing SBA systems or (b) develop other electronic platforms that will assist with increasing small business participation in micro-level borrowing.
Questions about this program announcement should be directed to the Microenterprise Development at email@example.com.