SBA Funding for New Women’s Business Centers in Puerto Rico

The purpose of this funding opportunity announcement (FOA) is to provide funding for multiple non-profit organizations that will provide services to the Territory of Puerto Rico to start a new, community-based Women’s Business Centers (WBC).As outlined in this funding opportunity announcement, eligible applicants may apply for a Women’s Business Center (WBC) grant consisting of a base period of 12 months with 4 option periods of 12-months each. The SBA Women’s Business Center is a program or project funded, in part, by a grant from the SBA to provide technical assistance to women entrepreneurs, both nascent and established in the areas of finance, management, and marketing, and other areas as defined in the announcement. A representative number of clients served by a 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. The successful applicant will receive an award in the form of a cooperative agreement for the base period of 12-months. Four additional option years of 12-months each may be exercised, subject to the availability of funding and the WBC’s performance during the previous period/year. 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. Non-Federal entities must provide non-Federal matching funds as follows: one non-Federal dollar for each two Federal dollars for the base period and the first Option Year, and one non-Federal dollar for each Federal dollar for years three through five. At least 50% of the non-Federal matching funds must be in the form of cash to include program income (e.g., fees generated from services). The remaining 50% may be made up of in-kind contributions.