Women’s Business Center Initial Grant

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The U.S. Small Business Administration (SBA) has issued Program Announcement No. OWBO-2010-01 to invite non-profit organizations located within the State of New Jersey to start a new, community-based Women’s Business Center to provide technical assistance within the State of New Jersey to women entrepreneurs, both nascent and established. A representative number of clients served by each WBC must be socially and economically disadvantaged. WBC grant recipients must provide assistance to women entrepreneurs in the areas of finance, management, marketing, and other areas as defined in this Program Announcement. The successful applicant will receive the base year award in the form of a cooperative agreement. Four additional option years may be exercised, subject to the availability of funding and the WBC’s performance during the previous year. An SBA women’s business center is a project funded, in part, by a grant from the SBA to provide technical assistance, such as training and counseling to women entrepreneurs, both nascent and established. The WBC may exist within the framework of a larger economic development organization and may make use of the resources provided by that organization, and must be a clearly identifiable separate program or project of that entity. The recipient organization is required to match awarded funds on a 1:2 ratio for the first two years of the grant and a 1:1 ratio for the next three years. Program authority is detailed in the Small Business Act §§ 2(h) and 29 (15 U.S.C. §§ 631(h) and 656), as amended.

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