Opportunity Information: Apply for PRIME 2016 02
Apply for PRIME 2016 02
- The SBA in the business and commerce sector is offering a public funding opportunity titled "Program for Investment in Microentrepreneurs (PRIME)" and is now available to receive applicants.
- Interested and eligible applicants and submit their applications by referencing the CFDA number(s): 59.050.
- This funding opportunity was created on Mar 29, 2016 and posted on Mar 29, 2016.
- Applicants must submit their applications by Apr 29, 2016. (Agency may still review applications by suitable applicants for the remaining/unused allocated funding in 2026.)
- Each selected applicant is eligible to receive up to $250,000.00 in funding.
- The number of recipients for this funding is limited to 35 candidate(s).
- Eligible applicants include: Others (see text field entitled Additional Information on Eligibility for clarification).
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Opportunity Summary:
The Program for Investment in Microentrepreneurs (PRIME) is a Small Business Administration (SBA) discretionary grant program created under the Program for Investment in Microentrepreneurs Act of 1999 (PRIME Act), enacted on November 12, 1999 (Public Law 106-102; 15 U.S.C. 6901 note). The program is designed to expand economic opportunity by improving the quality and reach of training, technical assistance, and organizational support available to disadvantaged entrepreneurs and the organizations that serve them. In practice, PRIME is meant to strengthen the “on-the-ground†ecosystem that helps very small businesses and microenterprises start up, stabilize, and grow, particularly in communities where access to mainstream business support is limited.
Under the PRIME Act, the SBA Administrator is authorized to fund several major types of activities. First, the program supports training and technical assistance for disadvantaged entrepreneurs. This generally includes hands-on support that helps individuals move from an idea to a viable small business, such as business planning, financial management, marketing, operations, legal and regulatory basics, and other core entrepreneurship skills. Second, PRIME can provide training and capacity-building assistance to microenterprise development organizations (MDOs) and microenterprise development programs. That means the program is not only about serving entrepreneurs directly; it also invests in the capacity of nonprofit or community-based providers so they can deliver stronger services, reach more people, and operate more effectively. Third, PRIME supports research and development of best practices for microenterprise and technical assistance programs, helping identify what works and encouraging consistent, evidence-informed approaches. Finally, the Act allows funding for other activities the SBA Administrator determines are appropriate, giving the program flexibility to address emerging needs in disadvantaged communities.
For the specific opportunity referenced (Funding Opportunity Number PRIME 2016 02), SBA indicated a clear set of priorities for that year. The agency planned to concentrate resources in two areas: (1) training and technical assistance to strengthen cooperatives that serve economically disadvantaged entrepreneurs and economically disadvantaged areas, and (2) training and technical assistance that supports entrepreneurship among ex-offenders involved in the criminal justice system, with particular attention to people on parole or probation and individuals who are incarcerated but nearing release. In other words, while PRIME broadly targets disadvantaged entrepreneurs, this cycle emphasized cooperative business structures in distressed communities and reentry-focused entrepreneurship support for justice-involved individuals.
This funding opportunity was offered as a cooperative agreement, which typically signals that SBA expects to have substantial involvement in the funded project compared to a standard grant. The funding activity category is Business and Commerce, and the CFDA number listed is 59.050. The opportunity’s award ceiling was $250,000, with an expected 35 awards, indicating an intention to distribute funds across multiple organizations rather than concentrating them in a small number of large awards. The posting and creation dates were March 29, 2016, and the application deadline (original and current) was April 29, 2016.
Eligibility is summarized as “Others,†with additional eligibility details referenced in the full announcement’s eligibility section. This label commonly points to specific types of entities (often nonprofits, community development organizations, or similar intermediaries) rather than individuals, but the exact eligible applicant categories would be defined in the full funding notice. Overall, PRIME 2016 02 can be understood as SBA funding aimed at expanding high-quality microenterprise assistance, with targeted emphasis on strengthening cooperative models in disadvantaged areas and supporting entrepreneurship as a pathway to economic reintegration for people affected by the criminal justice system.
Frequently Asked Questions (FAQs) - PRIME (Program for Investment in Microentrepreneurs) - Funding Opportunity PRIME 2016 02
What is the PRIME program?
The Program for Investment in Microentrepreneurs (PRIME) is a discretionary grant program of the U.S. Small Business Administration (SBA) created by the Program for Investment in Microentrepreneurs Act of 1999 (PRIME Act), enacted November 12, 1999 (Public Law 106-102; 15 U.S.C. 6901 note). PRIME is designed to expand economic opportunity by improving the quality and reach of training, technical assistance, and organizational support available to disadvantaged entrepreneurs and the organizations that serve them.
What is the main purpose of PRIME funding?
PRIME funding is intended to strengthen the "on-the-ground" ecosystem that helps very small businesses and microenterprises start up, stabilize, and grow, especially in communities where access to mainstream business support is limited. The program focuses on improving entrepreneurship training and technical assistance and building the capacity of organizations that deliver those services.
What types of activities can PRIME support under the PRIME Act?
Under the PRIME Act, the SBA Administrator is authorized to fund several types of activities, including: (1) training and technical assistance for disadvantaged entrepreneurs; (2) training and capacity-building assistance to microenterprise development organizations (MDOs) and microenterprise development programs; (3) research and development of best practices for microenterprise and technical assistance programs; and (4) other activities the SBA Administrator determines are appropriate.
What kinds of training and technical assistance are included for disadvantaged entrepreneurs?
The opportunity describes hands-on support that helps individuals move from an idea to a viable small business. Examples mentioned include business planning, financial management, marketing, operations, and legal and regulatory basics, along with other core entrepreneurship skills.
Does PRIME only fund direct services to entrepreneurs?
No. PRIME can fund direct training and technical assistance to disadvantaged entrepreneurs, and it can also fund capacity-building for microenterprise development organizations and programs. That means PRIME may invest in the nonprofit or community-based providers themselves so they can deliver stronger services, reach more people, and operate more effectively.
What are microenterprise development organizations (MDOs) in this context?
The opportunity references MDOs and microenterprise development programs as organizations that serve microenterprises and disadvantaged entrepreneurs by delivering training, technical assistance, and related support. PRIME can provide training and capacity-building assistance to these providers.
Does PRIME support research or best-practice development?
Yes. The PRIME Act allows support for research and development of best practices for microenterprise and technical assistance programs, with the goal of identifying what works and encouraging consistent, evidence-informed approaches.
What is the specific funding opportunity number referenced?
The funding opportunity referenced is PRIME 2016 02.
What priorities did SBA emphasize for PRIME 2016 02?
SBA indicated two priority areas for that cycle: (1) training and technical assistance to strengthen cooperatives that serve economically disadvantaged entrepreneurs and economically disadvantaged areas, and (2) training and technical assistance that supports entrepreneurship among ex-offenders involved in the criminal justice system, especially people on parole or probation and individuals who are incarcerated but nearing release.
What does it mean that this cycle focused on cooperatives?
For PRIME 2016 02, SBA planned to concentrate resources on training and technical assistance that strengthens cooperatives serving economically disadvantaged entrepreneurs and economically disadvantaged areas. The emphasis suggests support for cooperative business structures and the organizations that assist them in distressed communities.
Who is included in the justice-involved priority group for PRIME 2016 02?
The opportunity highlights ex-offenders involved in the criminal justice system, with particular attention to people on parole or probation and individuals who are incarcerated but nearing release.
What type of award is PRIME 2016 02?
This opportunity was offered as a cooperative agreement.
How is a cooperative agreement different from a standard grant (as described in this opportunity)?
The opportunity notes that a cooperative agreement typically signals that SBA expects to have substantial involvement in the funded project compared to a standard grant.
What is the funding activity category for this opportunity?
The funding activity category listed is Business and Commerce.
What is the CFDA number for PRIME 2016 02?
The CFDA number listed for this opportunity is 59.050.
What is the maximum award amount (award ceiling)?
The award ceiling listed for PRIME 2016 02 was $250,000.
How many awards were expected?
SBA expected to make 35 awards under this opportunity.
What do the award ceiling and expected number of awards suggest about SBA's funding approach?
Based on the stated award ceiling of $250,000 and an expected 35 awards, the opportunity indicates an intention to distribute funds across multiple organizations rather than concentrating the funding into a small number of large awards.
When was the opportunity posted and when was it created?
The posting date and the creation date were both March 29, 2016.
What was the application deadline for PRIME 2016 02?
The application deadline (original and current) was April 29, 2016.
Who was eligible to apply?
Eligibility was summarized as "Others," with additional eligibility details referenced in the full announcement's eligibility section. The summary label indicates eligibility was defined more specifically in the full funding notice rather than being broadly open to all applicant types.
Does the eligibility summary indicate whether individuals could apply?
The opportunity only states eligibility as "Others" and points to the full announcement for details. It also notes that this label commonly points to specific types of entities (often nonprofits, community development organizations, or similar intermediaries) rather than individuals, but the exact eligible applicant categories would be defined in the full funding notice.
What is the overall goal of PRIME 2016 02 as described?
PRIME 2016 02 is described as SBA funding aimed at expanding high-quality microenterprise assistance, with a targeted emphasis on strengthening cooperative models in disadvantaged areas and supporting entrepreneurship as a pathway to economic reintegration for people affected by the criminal justice system.
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