SBA launches new grant program for ‘smallest of the small’ businesses

The U.S. Small Business Administration announced Wednesday that it is accepting applications for its new Community Navigator Pilot Program.

Established by the American Rescue Plan, the initiative will leverage a community navigator approach to reach the nation”™s smallest businesses, with a priority focus on those owned by socially and economically disadvantaged individuals, as well as women and veterans.

SBA will accept applications from nonprofit organizations, state, local and tribal governments, SBA resource partners, and other organizations through July 12. It anticipates making award decisions by August.

Competitive grant awards will range from $1 million to $5 million for a two-year performance period. Performance periods are projected to start in September. Those eligible to apply must meet and demonstrate abilities to support the requirements of the funding opportunity.

SBA Administrator Isabella Casillas Guzman called the program “a crucial addition to our SBA programs because it helps us to connect with small businesses that have historically been underserved or left behind. These businesses ”“ the smallest of the small in rural and urban America, and those owned by women, people of color or veterans ”“ have suffered the greatest economic loss from this pandemic.”

She said the organization will use a hub-and-spoke model in regions to “bridge the gap between local entrepreneurs and SBA”™s resources and programs. If we”™re going to build back better, we need to ensure that all entrepreneurs have the support they need to recover.”

For more information on the Community Navigators Initiative, see here.