PROGRAM OBJECTIVES:
To assist women, low-income, and minority entrepreneurs, business owners, and other individuals possessing the capability to operate successful business concerns and to assist small business concerns in those areas suffering from a lack of credit due to economic downturns. Under the Program, the Small Business Administration (SBA) will make loans or provide guaranties to private, non-profit, and quasi-governmental organizations (intermediary lenders) who will use the loan funds to make short-term, fixed interest rate microloans in amounts up to $25,000 to start-up, newly established, and growing small business concerns. These microloans are to be used exclusively for working capital, inventory, supplies, furniture, fixtures, machinery, and/or equipment. In addition, the SBA will make grants to participating intermediary lenders to provide marketing, management, and technical assistance to borrowers receiving microloans. In addition, the SBA will make grants to non-profit organizations, which are not intermediary lenders, to provide marketing, management, and technical assistance to low-income individuals seeking private sector financing for their businesses. Under the Program, SBA will also provide training for intermediary lenders and non-lenders participating in the Program.

ELIGIBLE FUNCTIONAL CATEGORIES:
1. BUSINESS AND COMMERCE;
- Small Business;
- Minority Business Enterprise;

WHO CAN BENEFIT FROM THIS PROGRAM:
- Public nonprofit institution/organization;
- Minority group;
- Small business;
- Private non-profit institution/organization;
- Quasi-public non-profit organization;
- Small Business Person;
- Women;

WHO CAN APPLY:
- Public non-profit institution/organization (includes institutions of higher education and hospitals);
- Private non-profit institution/organization (includes institutions of higher education and hospitals);
- Quasi-public non-profit institution/organization;