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SBA Launches $100 Million Grant Program To Help Small Businesses: What You Need To Know

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WWR Article Summary (tl;dr) The new grant program, established by the "American Rescue Plan" places a priority on businesses owned by socially and economically disadvantaged individuals, women and veterans. 

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The Small Business Administration is launching a $100 million grant program designed to help small businesses connect with SBA assistance.

The “Community Navigator Pilot” program offers grants of between $1 million and $5 million to eligible organizations that provide counseling, networking and information on agency resources to small businesses working to recover from the impacts of the COVID-19 pandemic.

“The Community Navigator Pilot Program is a crucial addition to our SBA programs because it helps us to connect with small businesses that have historically been underserved or left behind,” SBA Administrator Isabella Casillas Guzman said. “We’ll be using a hub and spoke model in local regions across the nation to bridge the gap between local entrepreneurs and SBA’s resources and programs. If we’re going to build back better, we need to ensure that all entrepreneurs have the support they need to recover.”

The program, established by the American Rescue Plan, places a priority on businesses owned by socially and economically disadvantaged individuals, women and veterans. Applications are open to non-profit organizations, state, local and tribal governments, SBA resource partners and other organizations.

SBA is accepting applications through July 12 with award decisions made by August.

For more information on the Community Navigators Initiative, visit www.sba.gov/navigators.

Distributed by Tribune Content Agency, LLC.

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