U.S. Small Business Administration (SBA) is currently accepting applications for the Women’s Business Center (WBS) Initial Phase Grant.
Donor Name: U.S. Small Business Administration (SBA)
State: Connecticut, Idaho, Tennessee
County: All Counties
Type of Grant: Grant
Deadline: 01/26/2024
Size of the Grant: $100,000 to $500,000
Grant Duration: 5 Years
Details:
The purpose of this FOA is to provide funding for up to three (3) private, non-profit organizations that will provide entrepreneurial development services to women, with an emphasis on socially and economically disadvantaged entrepreneurs in locations that are outside of the geographical areas of existing WBCs for the States of Tennessee, Connecticut, and Idaho. There will be one award for each state. Eligible applicants must be private, non-profit organizations with 501(c) tax exempt status from the U.S. Treasury’s Internal Revenue Service and must provide services to State of Tennessee, the State of Connecticut, and the State of Idaho.
The mission of the WBC Program is to act as the catalyst for providing in-depth, substantive, outcome[1]oriented business services to women entrepreneurs, both nascent and established businesses, a representative number of which are socially and economically disadvantaged. This mission is accomplished through the award of financial assistance to private, 501(c) certified non-profit organizations to enable them to affect substantial economic impact in their communities, as measured by successful business start-ups, job creation and retention, and increased company revenues.
Specifically, by statute WBC’s must:
- ‘Provide prospective entrepreneurs and existing small businesses with training, counseling, and specialized services. The services provided must relate to the formation, financing, management, and operation of small business enterprises.
- Provide training and counseling services that enhance a small business concern’s ability to access capital, such as business plan development, financial statement preparation/analysis, and cash flow preparation/analysis.
Funding Information
Up to $450,000 in funding is available for this FOA. The SBA expects to provide funding for three (3) Initial Phase awards (one for each location- Idaho, Connecticut, and Tennessee), not to exceed $150,000.
Grant Period
Awards will be made for up to a five (5)-year period of performance, consisting of a base period of twelve (12) months from the date of award and four (4) option periods of twelve (12) months each.
Eligibility Criteria
- Public and State controlled institutions of higher education
- Nonprofits that do not have a 501(c)(3) status with the IRS, other than institutions of higher education
- Private institutions of higher education
- Nonprofits having a 501(c)(3) status with the IRS, other than institutions of higher education.
For more information, visit Grants.gov.
