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Great Opportunity for Entrepreneurs – Training & Technical Assistance Funding

Thanks to our good friend Wit Jones and our great colleagues over at the Small Business Administration, I’m happy to pass on information about the following opportunity for entrepreneurs:

Program for Investment in Microentrepreneurs  (PRIME)

Many low-income and very low-income entrepreneurs need training and technical assistance to start, operate, or expand their businesses. PRIME will aid in researching and developing best practices in the field of microenterprise and technical assistance programs for disadvantaged microentrepreneurs. A minimum of 50 percent of the funds available for grants under the PRIME Act must be used to benefit very low-income persons, including those residing in Indian reservations.

sba-logoEstimated total program funding is five-million dollars ($5,000,000). Award amounts may vary, depending upon availability of funds (and performance for option years); however, no single grantee may receive more than $250,000 or ten (10) percent of the total funds made available for this program in a single fiscal year, whichever is less. In general, match is required, although SBA may reduce or eliminate match in certain circumstances (up to a program limit of 10 percent).

The period of performance for this grant is one base year with four (4) twelve-month options subject to availability of funds. The total possible period of performance is five (5) years. Each option year will constitute a separate budget period.

PRIME is now open to microentrepreneur training and technical assistance providers in all 50 states and territories. Due to the competitive process, SBA will be unable to assist with answers to specific questions regarding individual proposals or requests for assistance in completing proposals. Questions concerning budget, cost elements or funding of this grant should be directed to Jan Blackwell-Robinson at (202) 205-7134 or via e-mail at prime@sba.gov.

For more information on the formal PRIME program announcement and the required forms, visit the following URL: 


Note:  the application deadline has been extended to 11:59:59 EST on July 24, 2009.

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