The Wisconsin Women’s Business Initiative Corporation (WWBIC) will receive a $150,000 grant from the U.S. Small Business Administration’s Program for Investment in Micro-Entrepreneurs (PRIME). With its PRIME award, WWBIC will continue to provide business education, training, and counseling for 220 disadvantaged micro-entrepreneurs through their “Job Creation through Enhancing Opportunities for Disadvantaged Entrepreneurs” program, projected to result in 20 new business starts and 90 new full-time jobs. Those served will be located in low income, low employment Historically Underutilized Business Zones (HUBZones), or rural areas.
“The SBA plays a vital role in expanding support to small businesses by ensuring they have the tools needed to start and expand their businesses, creating more jobs and opportunities at the local level,” said SBA Region V Administrator Rob Scott.
The SBA’s PRIME grants help low-income entrepreneurs gain access to capital to establish and expand their small businesses. This year’s 32 recipients in 24 states and the District of Columbia will receive grants ranging from $75,000 to $250,000, totaling $5 million. In total, 111 organizations applied for PRIME grants for 2018. In addition to WWBIC, ADVOCAP, an SBA micro-lender based in Fond du Lac, received its first $125,000 PRIME grant this year. Read the full story here.