FEDERAL AGENCY:

SMALL BUSINESS ADMINISTRATION

AUTHORIZATION:

Riegle Community Development and Regulatory Improvement Act of 1994, 15 U.S.C. 6901 et seq., as amended; Gramm-Leach -Bliley Act, Title VIII, Public Law 106-102.

The objective of the PRIME Program is to increase the number of microenterprises and to enhance the management capability of microentrepreneurs to provide training and technical assistance at little or no cost to microentrepreneur and/or microenterprises to assist in starting, expanding and/or growing their business; to provide training and capacity building services to enhance existing MDOs and expand the universe of MDOs that provide microenterprise development training programs and services; and to fund research and development of best practices for training and technical assistance consistent with the PRIME Act.

USES AND USE RESTRICTIONS:

The recipients of the services provided by the grantees are those persons/businesses who satisfy the eligibility criteria as defined in the Act.

ELIGIBILITY REQUIREMENTS:

Applicant Eligibility:   Grant recipients shall be non-profit microenterprise development or program (or a collaborative thereof) that has a demonstrated record of delivering microenterprise services to disadvantaged entrepreneurs, an intermediary, a microenterprise development organization or program that is accountable to a local community, working in conjunction with a State or local government or Indian tribe, or an Indian tribe acting on its' own, if the tribe can certify that no private organization or program referred to in this paragraph exists within its' jurisdiction.

Beneficiary Eligibility:   Disadvantaged entrepreneurs, microenterprises, and microenterprise development organizations as defined in the Act.

Credentials/Documentation:   Not applicable.

Pre-application Coordination:   Not applicable. This program is excluded from coverage under E.O. 12372.

Application Procedure:   Subject to the availability of funds, SBA will issue a Notice of Funds Availability (NOFA) soliciting responses from qualified organizations for the services to be provided under the Act.

Award Procedure:   Successful offerors will be notified of a decision by letter from the Office of Financial Assistance.

Deadlines:   The deadlines for applications will be stated in the NOFA.

Range of Approval/Disapproval Time:   Sixty to 90 days.

Appeals:   Not applicable.

Renewals:   The period of performance for grants awarded under the Act is for one year with four twelve month options exercised at the discretion of the government.

ASSISTANCE CONSIDERATIONS:

Formula and Matching Requirements:   Grant recipients are expected to provide a 50% match which may come from fees, nonfederal grants, loan sources, and in-kind resources.

Length and Time Phasing of Assistance:   Not applicable.

POST ASSISTANCE REQUIREMENTS:

Reports:   Grant recipients are required to provide performance and financial reports.

Audits:   SBA reserves the right to perform pre- and post award audits. Grant recipients are required to provide audited financial statements on an annual basis.

Records:   Grant recipients are required to collect and maintain data on recipients of technical assistance which shall be included in the grant recipient's performance reports.

FINANCIAL INFORMATION:

Account Identification:   73-0100-0-1-376.

Obligations:   (Grants) FY 01 $0; FY 02 est $15,000,000; and FY 03 est Not available.

Range and Average of Financial Assistance:   Seventy-five percent of the funds appropriated shall be used for training and technical assistance of microentrepreneurs with no one organization receiving a single grant in excess of ten percent of the total funds appropriated for training and technical assistance, 15 percent of the total appropriated funds shall be directed to training and capacity building services to existing MDOs, and the remaining funds may be used for the research and development of best practices and other activities as the Administrator determines are consistent with the purposes of the Act.

During fiscal year 2001, the PRIME program awarded approximately $15 million in grants to qualified organizations.

REGULATIONS, GUIDELINES, AND LITERATURE:

The regulations are available in 13 CFR.

INFORMATION CONTACTS:

Regional or Local Office:   None.

Headquarters Office:   Office of Financial Assistance, Small Business Administration, 409 3rd Street, SW., Washington, DC 20416. Program Contact: Jody Raskind. Telephone: (202) 205-6497. E-mail address: www.sba.gov.

Web Site Address:   http://www.sba.gov/inv.

EXAMPLES OF FUNDED PROJECTS:

Not applicable.

CRITERIA FOR SELECTING PROPOSALS:

Past performance, technical approach, personnel, and cost.