PRIME 2024

Background
The U.S. Small Business Administration (SBA) has a long history of supporting small businesses through financial assistance and funding to organizations that provide training and technical assistance to promote growth, innovation, and management improvement. The Program for Investment in Microentrepreneurs Act of 1999 authorizes the SBA Administrator to establish a program for providing training and technical assistance to disadvantaged entrepreneurs, capacity building assistance to microenterprise development organizations (MDOs) and programs, research and development of best practices for microenterprise and technical assistance programs, and other activities as determined by the SBA Administrator.

Grant Details
The Funding Opportunity PRIME 2024 invites proposals for funding from private, non-profit microenterprise development organizations; microenterprise development programs run by State/Local/Tribal Governments; or Indian tribes interested in providing assistance and guidance to disadvantaged microentrepreneurs and/or microenterprise development organizations. The opportunity includes two funding tracks: Track I (Technical Assistance) seeks applications for funding to provide training and technical assistance programs to disadvantaged entrepreneurs; Track II (Capacity Building) seeks applications for funding to provide training and capacity building services to MDOs, microenterprise development programs, and groups of such organizations. Applicants are encouraged to leverage SBA funding by collaborating with SBA’s mission-oriented lenders, District Offices, Technical Assistance providers, Small Business Investment Companies, SBA Resource Partners, federal, state, local and tribal government small business development programs, universities, colleges, private organizations such as chambers of commerce and trade associations.

Eligibility Requirements
Eligible applicants include microenterprise development organizations or programs (or group or Collaborative thereof), Intermediaries with experience in delivering technical assistance to disadvantaged entrepreneurs, microenterprise development organizations or programs accountable to a local community working in conjunction with a State or local government or Indian Tribe, or Indian tribes acting on their own if no private organization or program exists within their jurisdiction. Religious Organizations may also apply with certain restrictions.

Period of Performance
Awards will be made for a project period of twelve months starting on September 30, 2024, through September 29, 2025.

Grant Value
SBA expects to issue up to $7 million in awards under this Announcement. Approximately 27 awards are anticipated with Track I awards ranging from $75,000 to $300,000 and Track II awards ranging from $75,000 to $400,000. A 50 percent matching contribution is required but may be reduced or eliminated in certain circumstances.