Challenge grant for small businesses

[From Philanthropy News Digest]

Opportunity International has announced the launch of a $1 million challenge grant designed to double the impact of corporate and small business contributions to the organization.

Through the end of the year, the Caterpillar Foundation will match new contributions or any gift in excess of a company's previous gift to Opportunity International, up to a total of $1 million. Donations from corporations and small businesses made through the initiative will be used to fund Opportunity International's various initiatives, including educational finance and rural and agricultural finance programs that are helping the working poor in sub-Saharan Africa, Mexico, India, Indonesia, and China achieve financial freedom, gain self-sufficiency, and feed their communities.

"Businesses have come to realize that they have an important, and even critical, roll to play in addressing many of the challenges that our world faces," said Caterpillar Foundation vice president Will Ball. "We are proud to be able to partner with businesses that are committed to solving complex and difficult issues, such as poverty, in supporting Opportunity International's efforts to provide savings-based microfinance services to the world's most marginalized citizens."

“Opportunity International and Caterpillar Foundation Launch $1 Million Corporate Challenge to Help Alleviate Global Poverty Through Savings-Based Microfinance Programs.” Opportunity International Press Release 11/15/10.

Small Biz Exporting Tool

Small businesses interested in exporting now have a new online tool to help them tap into the global marketplace to grow their business. Developed by the U.S. Department of Commerce and the U.S. Small Business Administration, Six Steps to Begin Exporting, www.export.gov/begin, is the latest tool in the National Export Initiative toolbox to help entrepreneurs begin exporting.

The six-step process begins with a self-assessment to help potential exporters gauge their readiness to successfully engage in international trade. The self-assessment is followed by sections on training and counseling programs; resources to create an export business plan; information on conducting market research; assistance for finding foreign buyers; and investigating financing for your small business exports, foreign investments or projects.

Upon completing the self-assessment, businesses receive a score indicating their level of readiness. Based on the score, additional resources are identified to fit their specific needs, including SBA and its nationwide resource partners SCORE and Small Business Development Centers, as well as Commerce's U.S. Export Assistance Centers, which provide individualized support.

News Release

Small Business Innovation Awards

The Tibbetts Awards are presented to those small businesses and individuals judged to exemplify the best in the SBIR program. The award is named for Roland Tibbetts, acknowledged as the father of the Small Business Innovation Research (SBIR) program, and is presented to companies and individuals that promote the mission and goals of the SBIR program and Small Business Technology Transfer (STTR):

- to stimulate technological innovation;

- to use small business to meet federal research and development needs;

- to encourage diverse participation in technological innovation;

- to increase commercialization of Federal research.

Nominations for the 2011 Awards will be accepted starting November 15, 2010. The nomination period will close on December 15, 2010 at 5 PM EST. Anyone can nominate a company and/or individual for a Tibbetts Award – including self-nominations. For more information, visit the SBA Tibbetts Awards Website: http://www.sba.gov/aboutsba/sbaprograms/sbir/tibbetts/

For more information on EPA's SBIR program see: http://www.epa.gov/ncer/sbir

Follow NCER News and New Funding Opportunities on Twitter: http://twitter.com/EPAncer/

CDFI loan grants

[From Philanthropy News Digest] Citigroup, Inc. has announced that it will distribute $60 million to Community Development Financial Institution (CDFI) loan funds by year's end to boost small business lending in low-income areas, the Associated Press reports.

The bank will award grants to CDFIs in thirty-nine states and the District of Columbia through a $200 million fund it established earlier this year with the Calvert Foundation and the Opportunity Finance Network. Eligible small business owners will be able to use the loans to hire new staff and/or expand their business.

In the past, community banks were the largest provider of credit to small businesses. But since the stock market crash of 2008, lending by community banks has fallen as many banks replenish their reserves in the face of an uncertain economy.

To that end, Citi is working to meet the financial needs of small businesses through the fund. For example, the fund recently made a loan to help a Chicago-based nonprofit open a sixty-seat restaurant that will serve inexpensive meals to low-income families. Citi told the AP that the nonprofit expects to add twelve full-time employees to its payroll as a result of the loan.

“Citigroup Grants $60M for Small Biz Lending.” Associated Press 11/03/10.