Nebraska Ag Connection - Nebraska Nonprofits Awarded $350,000 from SBA

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Nebraska Nonprofits Awarded $350,000 from SBA
Nebraska Ag Connection - 09/27/2022

The Center for Rural Affairs (CFRA) and the GROW Nebraska Foundation have been awarded a $150,000 and $200,000 Program for Investment in Micro-Entrepreneurs (PRIME) grant, respectively.

These grants support nonprofit organizations as they help low-income entrepreneurs get financing to establish and expand their small businesses by providing direct technical assistance or provide capacity-building training for other organizations that provide capital to underserved small businesses.

"Our SBA PRIME grants provide critical support for nonprofit organizations that are delivering needed technical assistance and training to America's small businesses so they can continue to power our nation's strong economic recovery and transition to strong, stable growth," said SBA Administrator Guzman. "This year, the SBA focused our PRIME grant selection process on our nonprofit partners who can best bring federal resources to life, especially in the regions and communities where they are needed most. I look forward to working with these organizations as they help us connect America's entrepreneurs with the capital they need to start, grow and build resilient businesses."

CFRA has been focused on establishing strong rural communities in Nebraska since 1973 and is an SBA microlending partner. They also offer coaching to help people start or grow sustainable businesses. Kim Preston, lending services director, has big plans for the grant monies. "With this funding, we will provide education, training, and mentoring to disadvantaged entrepreneurs living in rural areas and in Native American communities. This addresses the needs of an increasingly diverse rural Nebraska population, and we will offer these trainings in English, Spanish, and Somali. These are especially valuable resources for our work with low-income entrepreneurs, including many new immigrant entrepreneurs in Greater Nebraska.

The GROW Nebraska Foundation helps Nebraska businesses obtain the tools they need to thrive and connect to the global marketplace, in part by providing trainings and technical business assistance. "We are thrilled to receive a grant award from the U.S. Small Business Administration Program for Investment in Microentrepreneurs Act (PRIME)," said CEO Janell Anderson-Ehrke. "There is so much need and our program is ready to get to work and help as many disadvantaged microentrepreneurs in Nebraska as possible. Small businesses are the backbone of our state and helping low-income individuals start businesses is so important."

In total, the SBA awarded $7.2 Million in PRIME grants to 38 provider organizations across the U.S. Tim Mittan, District Director for the SBA Nebraska District Office was happy to learn that two Nebraska nonprofits received grants. "Together, these two organizations will have $350,000 available to help small businesses. This funding will give both the opportunity to expand their services and grow more small businesses across the State of Nebraska."

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