SBA PRIME Grant Program
Microenterprise Development Organization Capacity Building Initiative
Build your organization's capacity through an in-depth training program for microlenders of all sizes.
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The SBA’s Program for Investment in Micro-Entrepreneurs (PRIME) provides grant funding to organizations that help low-income entrepreneurs gain access to the Microloans they need to establish and expand their small businesses. (Learn more.)
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To enable small business support Microlenders to leverage PRIME and create new or expanded, sustainable microloan program, ECDI offers a premier cohort consulting package to a select number of lenders that want to improve their ability to assist small businesses in their community. This program is open to microlenders of all types:
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Existing SBA Microloan Intermediaries
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Aspiring SBA Microlenders
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Community Development Corporations with lending programs
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Kiva and other similar community-based lenders.
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As part of this program, your organization will receive:
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Webinar series on Microlending best practices
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In-person workshop on SBA Microloan Underwriting, Processing and Orientation
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Organization lending policy tools and templates.
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Training on leveraging additional funding sources to increase microlending capacity and maximize SBA programming.
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Eligibility
Existing and aspiring Microlenders throughout the United States who want to start or grow their Microloan program.
Requirements
Applicants must:
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Submit a completed application
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Commit to full participation in the SBA Prime program and cohort:
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Engage with peer organizations collaborate, share best practices and learn
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Attend and participate in 6 to 10 cohort-specific webinar training opportunities
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Program Timeframe
The cohort training program will begin in May, 2024 and will conclude in September, 2023.
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Funding
Funding is provided by the Small Business Administration through a generous grant opportunity. Each participating agency in the cohort will receive funding for their employees to travel to ECDI’s headquarters for an in-person workshop in August, 2024.
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How to Submit
Applications may be submitted online. Incomplete applications will not be considered. This is a competitive application process.
Apply now take advantage of this opportunity to expand your lending capacity and increased access to capital for the communities you serve!