The Program for Investment in Micro-Entrepreneurs, or PRIME, distributed nearly $8 million in grants Sept. 8 to 100 nonprofits around the country, including four with operations or headquarters in the Washington region.
Advocates say the program helps small-business owners in underserved communities get capital that they may not qualify for otherwise.
â€œTo me itâ€™s additional services to help entrepreneurs who donâ€™t come with a lot of the financial literacy tools they need to start a business but have a good idea,â€ said Ann Sullivan, who heads the Association for Enterprise Opportunityâ€™s policy team.
SBA officials identified PRIME as one of several that could have its funding scaled back or eliminated in a tough economic climate, calling it â€œduplicativeâ€ of other efforts within the agency.
Photo by Billy Brown