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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.

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.)

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.

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.

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. 

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.

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!

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