MOUNTAIN BIZCAPITAL, INC
Microloan Technical Assistance Grant: Serve disadvantaged micro-entreprenuers through comprehensive training and technical assistance.
| AWARD OVERVIEW |
| Award Number |
SBAHQ-10-YR-0054 |
Funding Agency |
Small Business Administration |
| Total Award Amount |
$191,364 |
Project Location - City |
Asheville |
| Award Date |
05/05/2010 |
Project Location - State |
NC |
| Project Status |
Completed |
Project Location - Zip |
28801-3607
|
| Jobs Reported |
1.50 |
Congressional District |
11 |
| Project Location - Country |
US |
|
|
Recipient Information
(Grants)
| Recipient Information (Grants) |
|
Recipient Name
|
MOUNTAIN BIZCAPITAL, INC |
| Recipient DUNS Number |
142403927
|
| Recipient Address |
29 1/2 PAGE AVE |
| Recipient City |
ASHEVILLE |
| Recipient State |
North Carolina |
| Recipient Zip |
28801-2797 |
| Recipient Congressional District |
11 |
| Recipient Country |
USA |
Required to Report Top 5
Highly Compensated Officials |
No |
Projects and Jobs Information
| Projects and Jobs Information |
| Project Title |
Microloan Technical Assistance Grant |
| Project Status |
Completed |
| Final Project Report Submitted |
Yes |
| Project Activities Description |
Community Economic Development |
| Quarterly Activities/Project Description |
The continuing recession of the past year has presented ample economic challenges to the residents of Western North Carolina. As a result, the quality of loan applications we have received over the past three quarters has often not met our lending standards; our loan-decline list has tripled compared to 2008-09 levels. While we endeavor to offer financing to entrepreneurs who may not be bankable, we also recognize that in some circumstances, it is not responsible on our part to encourage borrowing by low-income entrepreneurs not yet ready to take on the dual burden of establishing a start-up business and taking on debt. For these reasons, the number of loans we made during the grant period did not meet the benchmarks we set initially.
However, we were able to exceed the majority of the annual technical assistance (TA) benchmarks. Overall we provided over 7,500 TA hours; and we served nearly 1,200 non-loan clients, over 24% more than our target. Our TA services have been in high demand throughout the year, and our expectation is that in the coming year, more entrepreneurs will have attained a solid foundation for starting a business, and will be capable of submitting quality loan applications.
|
| Jobs Created |
1.50 |
| Description of Jobs Created |
Funds were used to retain the FTE of 1 and a 1/2 staff persons to provide technical assistance to clients. |
Purchaser Information
(Grants)
| Purchaser Information |
| Contracting Office ID |
Not Reported |
| Contracting Office Name |
Not Available |
| Contracting Office Region |
Not Available |
| TAS Major Program |
73-0101 |
| Award Information |
| Award Date |
05/05/2010 |
| Award Number |
SBAHQ-10-YR-0054 |
| Order Number |
|
| Award Type |
Grants |
| Funding Agency ID |
73 |
| Funding Agency Name |
Small Business Administration |
| Funding Office Name |
Not Available |
| Awarding Agency ID |
73 |
| Awarding Agency Name |
Small Business Administration |
| Amount of Award |
$191,364 |
| Funds Invoiced/Received |
$191,364 |
| Expenditure Amount |
$191,364 |
| Infrastructure Expenditure Amount |
$0 |
| Infrastructure Purpose and Rationale |
Not Reported |
| Infrastructure Point of Contact Name |
Not Reported |
| Infrastructure Point of Contact Email |
Not Reported |
| Infrastructure Point of Contact Phone |
Not Reported |
| Infrastructure Point of Contact Address |
Not Reported |
| Infrastructure Point of Contact City |
Not Reported |
| Infrastructure Point of Contact State |
Not Reported |
| Infrastructure Point of Contact Zip |
Not Reported |
Product or Service Information
(Grants)
| Product or Service Information |
| Primary Activity Code |
S02 |
| Activity Description |
Community Economic Development |
| Sub-Awards Information |
| Sub-awards to Organizations |
0 |
| Sub-award Amounts to Organizations |
$0 |
| Sub-Awards to Individuals |
0 |
| Sub-Award Amounts to Individuals |
$0 |
| Number of Sub-awards less than $25,000/award |
0 |
| Amount of Sub-awards less than $25,000/award |
$0 |
| Number of payments to vendors greater than $25,000 |
0 |
| Total Amount of payments to vendors greater than $25,000/award |
$0 |
| Number of payments to vendors less than $25,000/award |
0 |
| Total Amount of payments to vendors less than $25,000/award |
$0 |
| Location Information |
| Latitude, Longitude |
35º 35' 23",
-82º 33' 7" |
| Congressional District |
11 |
| Address 1 |
153 S Lexington Ave |
| Address 2 |
|
| City |
Asheville |
| County |
Buncombe |
| State |
NC |
| Zip |
28801-3607 |
|
 |