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Grants for Starting a Business: SBA Prime Grant

Posted by Katie Adams on Fri, Dec 16, 2011 @ 11:12 AM

grants_to_start_a_businessIt’s not uncommon for aspiring entrepreneurs to contact TheGrantHelpers.com and ask about how they can secure a grant to start a business.  Unfortunately, there are relatively few grant opportunities available to START businesses, although there are many grants a business can pursue once up and running.  (If you are interested in starting a business, your best resource most likely will be your local Small Business Development Center).

One exception is the Small Business Administration’s Program for Investment in Microenterprise (SBA PRIME) grant. The SBA PRIME grant provides grant funding to help boost small business development in economically disadvantaged areas.  Nonprofit organizations that provide business training and technical assistance services are eligible to apply for SBA PRIME funding (matching funds are also typically required). If chosen, these organizations can then dole out the grant dollars out to eligible recipients. Common SBA PRIME grant recipients are low-income and very-low-income entrepreneurs, and the fund must be used to provide the training and technical assistance necessary to start, operate, and grow their businesses. Recipient businesses often have five or fewer employees, and are located in economically disadvantaged areas.

2011’s SBA PRIME recipients were announced earlier this fall. If you are interested in receiving an SBA PRIME grant see if there is a recipient organization in your area, and if so, contact them for more information on how to apply for those grant funds.

Interested in finding relevant grant opportunities?

The Grant Helpers provides grant research services and we can pinpoint the grant opportunities that are the best fit for your organization's needs. Contact us to learn more.

Topics: business grants, grant annoucement