Women's Business Center Initial Grants

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The U.S. Small Business Administration (SBA) has issued Program Announcement OWBO-2009-01-1 to invite a private non-profit organization certified under Section 501(c) of the Internal Revenue Code of 1986 to start a new, community-based Women's Business Center (WBC) in the state of South Dakota. WBCs provide technical assistance to women entrepreneurs, both nascent and established, in the areas of finance, management, marketing, and other areas as defined in Program Announcement OWBO-2009-01-1. A representative number of clients served by the WBC must be socially and economically disadvantaged. The WBC may exist within the framework of a larger economic development organization and may make use of the resources provided by that organization, but must be a clearly identifiable separate program or project of that entity. Program authority is detailed in the Small Business Act, Sections 2(h) and 29 (15 U.S.C. Sections 631(h) and 656), as amended. The successful applicant will receive an award in the form of a cooperative agreement for the base year (year one). Four additional option years (years two - five) may be executed, subject to the availability of funding and the WBC's performance during the previous year. The award recipient must provide non-federal matching funds as follows: 1 non-federal dollar for each 2 federal dollars in years one and two and 1 non-federal dollar for each 1 federal dollar in years three through five. Up to 50% of the non-federal matching funds may be in the form of in-kind contributions and at least 50% of non-federal matching funds must be in the form of cash (includes program income).

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