Office of Women's Business Ownership Program Announcement

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The U.S. Small Business Administration (SBA) has issued Program Announcement No.OWBO-2008-028 to invite existing women’s business centers that have successfully completed both a five year initial grant and a five year sustainability WBC grant and that continue to meet the program criteria as provided in the Eligibility section of the announcement to apply for a three year renewable grant. Successful applicants will receive awards under cooperative agreements for the remainder of 2008 year plus 2 option years, subject to available funding, to provide business training, counseling, mentoring and other technical assistance to women who want to start or expand businesses. The authorizing legislation is Section 29 (m) of the Small Business Act, (15 U.S.C. Section 656 (1) (as amended by Public Law 109-108). A women’s business center is a community-based project that is funded by the U.S. Small Business Administration through a grant that requires matching funds. WBCs provide long-term business skills training, counseling and mentoring to benefit nascent and existing small businesses that are owned and controlled by women, especially those who are socially or economically disadvantaged. The project must operate as a distinct unit of the recipient’s organization, having its own budget for staff, facilities, equipment and resources to carry out project activities. Service areas must include financial, management, marketing, Internet/electronic commerce and government procurement/certification assistance. The applicant may focus on specialized business categories, e.g., women who are veterans, have disabilities, are in agribusinesses, home-based businesses, manufacturing, living in, rural areas, inner cities, etc. Award recipients must provide non-federal matching funds as follows: one non-federal dollar for each federal dollar. Up to 50 percent of the non-federal match funds may be in the form of in-kind contributions and at least 50 percent of match must be in cash. Questions about this program announcement should be directed to the Office of Women’s Business Ownership at OWBO@sba.gov. PROPOSED FUNDING STRATEGYWOMEN’S BUSINESS CENTER PROGRAM

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