Thirty-seven community-based organizations across the United States that provide assistance to disadvantaged entrepreneurs are set to receive $5 million in grants from the U.S. Small Business Administration’s (SBA) Program for Investment in Micro-Entrepreneurs (PRIME). These organizations help low-income entrepreneurs gain access to capital to establish and expand their small businesses.
“By training low-income and disadvantaged micro-entrepreneurs on how to grow their businesses, the PRIME Program provides tremendous opportunity to strengthen and revitalize communities,” said SBA Administrator Maria Contreras-Sweet. “I am proud that this year’s PRIME program provides entrepreneurship pathways to individuals who have struggled to find employment after incarceration and helps them rebuild families and whole communities. PRIME complements the nearly $160 million approved this year through SBA’s mission-based lending programs.” Read the full release here.