U.S. Small Business Administration: Program For Investment In MicroentrepreneursDeadline: May 20, 2021
The Program for Investment in Microentrepreneurs (PRIME) was established for the purposes of: (i) providing training and technical assistance to disadvantaged entrepreneurs; (ii) providing training and capacity building assistance to microenterprise development organizations (MDOs) and programs; (iii) aiding in Research and development of best practices for microenterprise and technical assistance programs for disadvantaged entrepreneurs.
This year, additional consideration will be given to those applicants that (1) provide training and technical assistance to economically disadvantaged entrepreneurs in rural areas; and (2) training and technical assistance to support entrepreneurship in Hub Zones and Opportunity Zones.
PRIME funding will be awarded through the following funding tracks:
* Track I (Technical Assistance) – Funding will support organizations that provide training and technical assistance programs to disadvantaged entrepreneurs.
* Track II (Capacity Building) – Funding will support organizations that 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.
Amount: $5,500,000 is available to make approximately 27 awards. Awards for Tracks I and II will be in the range of $75,000 to $250,000. A 50 percent matching contribution is typically required. The project period is 12 months.
Eligibility: 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 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 above exists within its jurisdiction.