Description
The Program for Investment in Microentrepreneurs (PRIME) is a funding opportunity provided by the Small Business Administration (SBA) to support private, non-profit microenterprise development organizations, microenterprise development programs run by State/Local/Tribal Governments, or Indian tribes. The purpose of this program is to provide training and technical assistance to disadvantaged microentrepreneurs and/or microenterprise development organizations. The funding opportunity has two tracks: Track I, which focuses on providing training and technical assistance to disadvantaged entrepreneurs, and Track II, which focuses on providing training and capacity building services to microenterprise development organizations. Eligible applicants must demonstrate a record of delivering microenterprise services to disadvantaged entrepreneurs and must contribute a non-Federal match of 50 percent of each dollar awarded. The SBA expects to make approximately 27 awards under this Announcement, with a maximum award amount of $400,000.
Key aspects of the opportunity include:
• Eligible applicants must be non-profit organizations or Indian tribes with a demonstrated record of delivering microenterprise services to disadvantaged entrepreneurs.
• The funding opportunity has two tracks: Track I for training and technical assistance to disadvantaged entrepreneurs, and Track II for training and capacity building services to microenterprise development organizations.
• Awards will be made for a project period of twelve months, with a maximum award amount of $400,000.
• A non-Federal match of 50 percent of each dollar awarded is required, although the SBA may reduce or eliminate this requirement in certain circumstances.