New SBA Program To Provide Small Business Training Opportunities
Written by Jenna Weiner
Passage of the Small Business Jobs Act means that the small business sector may be poised to benefit from a variety of new resources and opportunities.
For the past few weeks, the U.S. Small Business Administration has dominated financing news for small businesses. And with another report just released, this trend is sure to continue.
The SBA has announced that it will be awarding grants between $250,000 and $500,000 to national organizations to develop programs that will provide training, guidance, counseling, mentoring and procurement assistance to small businesses.
Under the Small Business Teaming Pilot, the SBA expects to award 10 to 20 grants totaling up to $5 million for fiscal year 2011. To receive the funds, applicants must be a private, nonprofit or for-profit entity that has been in existence for the past three years.
"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."
This new pilot program will serve to bring SBA's total provided aid even higher. Since the passage of the Small Business Jobs Act in September, it has supported more than $12 billion in lending for this sector.
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