There was an announcement given by the small business administration in the United States that around 58 enterprises with non profit motive from different states and also from the Columbia district will be given grant funding under PRIME. The expansion for prime is Programme for Investment in Micro Entrepreneurs Act. This is mainly for helping the low and the very low income proprietors by providing technical support and training for commencement or for operation of for development of their business. The competition for this PRIME grant was open to public in all the states and the territories of US. The response was really good and around 400 applications were received by SBA. Last year, only 35 grants were offered in twelve states which were purely on the basis of non competitive. The SBA still continues to help the entrepreneurs of small business for starting, growing or succeeding in their business. The Administrator of SBA quotes that PRIME is their main tool in disbursing the grant. He thanked for the opportunity to provide more funding this year when compared to the previous year. The recipients of this grant help those proprietors who mainly falls under the community of under served with the tools that are significant for helping them to maximize their business potential and also for creating more jobs and thus in turn develop the economy locally. The PRIME of SBA is also planning to create technical and management support, capital access and also other types of financial help and counseling and training for business via the organizations with good experience to the small business with 5 or more employees and are also disadvantaged economically. It is also planning to help those businesses that are owned by the people of low income including those who live on the tribal areas and Indian reservations. The grant funding that are received will be utilized for providing technical help and training to the disadvantageous small entrepreneurs and also for those organizations that get help with the micro enterprises services and training. The aid is also given for development and research for the development of micro enterprise field and also provide technical help programme for those micro entrepreneurs who are very disadvantageous. The period for performance is quoted as 1 year with the option of 4-12 months. It is also said that the services provided by SBA is free for all the small businesses that have employees in the range of 5-50. All the requests will be assessed by SDBC and analyse the need for providing the service. It is also quoted that in spite of the stinking economy; SBA has achieved best record in terms of both the quantity of loans disbursed and the amount lent. The district Director of SBA also quoted that their fiscal year which was over by 30th September was a great surprise.
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