The U.S. Small Business Administration has awarded a handful of entrepreneur-focused organizations in five Southeastern states a total of more than $1 million in grants to help low-income entrepreneurs launch and build companies.
The SBA’s PRIME Grants initiative — PRIME stands for Program for Investment in Micro-Entrepreneurs — provides training for aspiring low-income and disadvantaged businesspeople with the aim preparing them for lenders that are part of the SBA’s core loan programs. This year, the agency is distributing $5 million worth of grants to 39 organizations in 16 states, Puerto Rico and the District of Columbia.
