Lieutenant Governor Garlin Gilchrist II has announced that nine organizations in Michigan will receive federal grants from the State Small Business Credit Initiative (SSBCI) Technical Assistance (TA) grant program to better support small businesses with technical assistance like legal, accounting, and financial advisory services [0bfac6ce].
This announcement comes as part of the ongoing efforts to boost small business growth and economic development in the state. The grants will enable these organizations to provide crucial support services to small businesses, including legal, accounting, and financial advisory services. By offering these resources, the aim is to help small businesses navigate the challenges they face and thrive in a competitive market.
The State Small Business Credit Initiative (SSBCI) Technical Assistance (TA) grant program is a federal initiative that aims to provide funding to organizations that can offer valuable support services to small businesses. These services can range from legal and accounting assistance to financial advisory services. By investing in these organizations, the government hopes to empower small businesses and contribute to the overall economic growth of the state [0bfac6ce].
The nine organizations selected to receive funding through the SSBCI TA grant program will play a crucial role in supporting small businesses in Michigan. Their expertise and resources will be instrumental in helping small businesses overcome challenges and achieve their goals. By providing access to legal, accounting, and financial advisory services, these organizations will contribute to the success and sustainability of small businesses in the state.
This initiative aligns with the broader goal of fostering a favorable environment for small businesses in Michigan. By investing in technical assistance programs, the government aims to create a supportive ecosystem that enables small businesses to thrive and contribute to the state's economy. The funding provided through the SSBCI TA grant program will further strengthen the infrastructure of support services available to small businesses, positioning them for long-term success [0bfac6ce].
Meanwhile, in Vermont, State Treasurer Mike Pieciak is leading an initiative to assist small startups in developing strategies to secure capital. The aim is to provide guidance and explore different pathways for these businesses to obtain funding. To support this effort, a panel of experts from local businesses, in addition to a representative from the U.S. Securities and Exchange Commission, are scheduled to speak at the event. This discussion will provide valuable insights and resources to startups in Vermont, helping them navigate the complexities of accessing capital and fueling their growth [8e5e8651].
Both Michigan and Vermont are taking proactive steps to empower small businesses and startups. By providing support services and exploring capital acquisition strategies, these states are creating an environment that fosters entrepreneurship and economic development. Such initiatives are crucial for the success and sustainability of small businesses, which play a vital role in driving local economies and creating jobs.
The U.S. Small Business Administration (SBA) celebrates the 200,000th graduate of its Boots to Business (B2B) program, which fosters entrepreneurial skills among veterans and military families. SBA Administrator Isabel Guzman emphasizes the program's importance in empowering veterans transitioning to civilian life. The B2B program, part of the Department of Defense's Transition Assistance Program, introduces transitioning service members, veterans, and military spouses to business fundamentals. The program has expanded to include Boots to Business Reboot (B2BR), offering the same curriculum to veterans of any era, National Guard and Reserve members, and military spouses. The SBA also celebrated the 3,000th graduate of the Boots to Business Revenue Readiness (B2B RR) course, which focuses on developing a business plan. The program's curriculum has been updated to include new modules and exercises, and courses are accessible through SBA district offices, resource partners, and grant partners.
The U.S. Small Business Administration (SBA) will host its Small Business Cyber Summit during Cybersecurity Awareness Month this October, with free educational webinars for small business owners. The summit will feature various speakers, including SBA Administrator Isabella Casillas Guzman and experts from the public and private sectors. The goal is to empower small businesses to deal with cyber challenges and defend themselves against cyberattacks [c2102e58].
In Vermont, the Champlain Valley Office of Economic Opportunity/Financial Futures Program, Vermont’s Small Business Administration, and The Vermont Professionals of Color Network are hosting a lunch event on February 3rd to explore funding opportunities for small businesses. The event is open to all business owners, with a special invitation to BIPOC and New American business owners. Advanced sign-up is requested. Interpreters will be present to assist members of various language communities. The event is made possible by the support of multiple organizations [d1e60cc9].
The article also mentions the importance of mentoring programs for employee retention and engagement, and highlights the resource partner network of the SBA in Vermont. SCORE Vermont, Vermont Small Business Development Center, Veterans Business Outreach Center of New England, and Vermont Women's Business Center are mentioned as organizations that provide mentoring and resources for small businesses. The SBA is hosting a free webinar on February 7th about its guaranteed loan programs. The article also provides contact information for the SBA Vermont District Office [d1e60cc9].
The U.S. Small Business Administration (SBA) has launched the Investing in America Small Business Hub, a digital portal providing industry-specific resources to help small businesses tap into opportunities under President Biden’s Investing in America (IIA) Agenda. The hub aims to help small businesses connect to resources, funding opportunities, and support to strengthen their businesses. The Biden-Harris Administration's Investing in America economic agenda has led to a historic nationwide Small Business Boom, with over 17 million new business applications filed since President Biden took office. The hub includes technological assistance guides, SBA resources, and collaborations with other federal agencies to host events and webinars. Small businesses are encouraged to utilize the SBA's existing resources to pursue Investing in America opportunities.
The U.S. Small Business Administration (SBA) has approved a request to offer SBA Microloans in all Kansas counties. The request comes from the South Central Kansas Economic Development District (SCKEDD). SCKEDD provided microloans in South Central and Southwest Kansas, but there were no microlenders actively serving large portions of rural Kansas. The SBA Microloan Program will provide loans up to $50,000 to help small businesses start up and expand. Microloan funds can be used for working capital, inventory, supplies, fixtures, furniture, machinery, and equipment. Borrowers seeking small business loans can connect to SBA's network of approved banks and private lenders through Lender Match. Other microlenders serving Kansas include AltCap for Wyandotte and Johnson counties, New Growth for Bourbon and Crawford Counties, and Justine Peterson Housing & Reinvestment Corporation in the Kansas City area.
In Southwest Louisiana, the Business Incubator has positioned three entrepreneurs, including David Awyapetyam, Trey Vincent, and an engineer named Minton, for success in their small businesses. The incubator provides more than just office space and equipment, serving as a think tank for sharing ideas, resources, networking, and solidifying connections. The entrepreneurs credit the incubator with providing them a supportive environment, infrastructure, and opportunities for growth. The Business Incubator of Southwest Louisiana was initially intended for start-ups but has expanded to support the existing small business community. The incubator accepts businesses through an assessment process and aims to ensure their sustainability as they grow. The entrepreneurs emphasize the value of the incubator's culture and the opportunities for collaboration and learning it provides. [a2af52f9]
The Small Business Administration (SBA) plays a vital role in supporting minority-owned businesses by providing funding, mentorship, and educational resources. Administrator Isabel Guzman recently visited small businesses in Indianapolis to discuss the SBA's assistance. The SBA offers loan programs like the SBA 7(a) loan, the Microloan program, and the Community Advantage loan to meet the diverse needs of small businesses. These loans are particularly beneficial for entrepreneurs of color who may struggle to secure traditional bank loans. In addition to funding, the SBA provides mentorship and training through initiatives like the Small Business Development Centers (SBDCs), Women's Business Centers (WBCs), and the SCORE network. The SBA also offers educational resources, workshops, webinars, and online courses tailored to the needs of minority entrepreneurs. The SBA's efforts aim to build a more inclusive and equitable economy by supporting minority-owned businesses that contribute to job creation, innovation, and community development. [0b142758]
The U.S. Small Business Administration (SBA) has awarded $7 million in PRIME grants to 28 nonprofit organizations across the country. The grants are part of the 2024 Program for Investment in Microentrepreneurs (PRIME) and aim to provide training, program development, and increased access to capital for disadvantaged microentrepreneurs. SBA Administrator Isabel Casillas Guzman emphasized the importance of these grants in supporting the Biden-Harris Administration's efforts to bridge capital gaps for small businesses, particularly in underserved communities. The grants will support organizations that assist under-resourced small business owners, including those in rural areas and those providing technical assistance in multiple languages. The grants range from $83,000 to $400,000 and require at least 50% in matching funds or in-kind contributions from the recipient organizations. The funds will be available starting September 30, and the project period for each grant is one year.