SBA PRIME Grant Program

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:  

• Existing SBA Microloan Intermediaries

• Aspiring SBA Microlenders

• Community Development Corporations with lending programs

• Kiva and other similar community-based lenders.

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As part of this program, your organization will receive:

• Webinar series on Microlending best practices

• In-person workshop on SBA Microloan Underwriting, Processing and Orientation

• Organization lending policy tools and templates.

• 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:

• Submit a completed application

• Commit to full participation in the SBA Prime program and cohort:

  • Engage with peer organizations collaborate, share best practices and learn

  • Attend and participate in 6 to 10 cohort-specific webinar training opportunities

 

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!