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SBA to Award Grants to Bolster Small Business Growth
Published on Jan 20, 2011
Read our article, 'SBA to Award Grants to Bolster Small Business Growth' at 'Time to Start Up,' the small business blog by BizFilings.
The U.S. Small Business Administration has begun accepting grant proposals for its recently enacted Small Business Teaming Pilot program. As part of the initiative, eligible organizations will be awarded funds to help provide small businesses with counseling, training and mentoring programs.
As part of the Small Business Jobs and Credit Act passed last September, the SBTP program will award 10 to 20 grants ranging from $250,000 to $500,000 over the fiscal year 2011. The measure is an attempt to boost small business growth and development and is hoped will ultimately contribute to the recovering economy.
U.S. small businesses employ nearly 50 percent of the private workforce - a figure that has weighed heavily on lawmakers, analysts and entrepreneurs forming a company.
"The Small Business Jobs Act provides critical resources to help small businesses continue to drive economic recovery and create jobs," said SBA Administrator Karen Mills. "The teaming pilot program will help put contract dollars into the hands of small businesses, create job opportunities through the teaming arrangements, help drive innovation and promote economic growth for our nation's economy."
Last week, the SBA announced that it has helped support more than $12 billion in small business loans since the Jobs Act was passed.