Program for Investment in Microentrepreneurs Act ("PRIME")

Eligibility:

A microenterprise development organization or program (or group or Collaborative thereof) that has a demonstrated record of delivering microenterprise services to disadvantaged entrepreneurs with specific emphasis on women; A private, nonprofit entity serving or seeking to serve microenterprise development organizations; A mircroenterprise development organization or program that is accountable to a local community, working with a State or local government or Indian Tribe; or An Indian tribe acting on its own, if the Indian tribe can certify that no private organization or program referred to in paragraph in paragraphs (1) exists within its jurisdiction.

Agency Name

Small Business Administration

Description

The U.S. Small Business Administration (SBA) has issued Program Announcement No.PRIME-2011-01 to provide training and capacity building grant programs to microenterprise development organizations ("MDOs"). PRIME has several tracks for which SBA will consider granting awards under this program announcement. Track 1 - Technical Assistance calls for applications from qualified organizations wishing to obtain grant funding for the purpose of providing training and technical assistance programs for disadvantaged microentrepreneurs.Track 2 - Capacity Building calls for applications from qualified organizations wishing to obtain grant funding for the purpose of providing training and capacity building services to microenterprise development organizations, programs and groups of such organizations to assist them in developing microenterprise training and services. The Act also authorizes a third track, Track 3, for the purpose of pursuing research and development and the establishment of best practices in the field of microenterprise and technical assistance programs for disadvantaged microentrepenurs. However, SBA will not seek Track 3 applications as part of this FY 2011 Program Announcement. See Program Announcement for complete details.Questions about this program announcement should be directed to the Office of Financial Assistance at prime@sba.gov.

Link to Full Announcement

http://www.sba.gov/financialassistance/prospectivelenders/prime/index.html