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SBA Awards Philadelphia’s Women’s Opportunities Resource Center $124,350 to Service Disadvantaged Entrepreneurs

$5M in PRIME Grants Will Help Emerging Micro-entrepreneurs Access Capital Nationwide
Release Date: 
Tuesday, September 24, 2019
Release Number: 
201909204-001
Contact: 
Robert Goza robert.goza@sba.gov | (610) 382-3084

PHILADELPHIA – The U.S. Small Business Administration announced $124,350 in grant money to the Women’s Opportunity Resource Center (WORC) to help low-income entrepreneurs gain access to capital through the Program for Investment in Micro-Entrepreneurs (PRIME) for establishing and expanding their small businesses. The 2019 grant will help WORC offer training and technical assistance to strengthen economically disadvantaged businesses.

“We’ve seen time and time again how even a small amount of financing can lead to substantial business growth and job creation. This vital funding federal from the SBA will help WORC make larger impacts in the community, assisting entrepreneurs seeking to take their businesses to the next level,” said the SBA’s Acting Mid-Atlantic Regional Administrator Steve Bulger.

PRIME was created by Congress in 1999 and range from $75,000 to $250,000. Typically, the grants require at least 50% in matching funds or in-kind contributions. This year, 30 recipients come from 22 states across the nation. Eight, including WORC, are in Opportunity Zones. President Trump signed legislation creating Opportunity Zones in 2017 to spur new capital investment in economically-distressed areas. Nearly 9,000 communities in all 50 States, the District of Columbia, and five territories have been designated as Opportunity Zones.

“The SBA’s mission helping small businesses access capital while ensuring they have access to the resources and training needed to create healthy, sustainable businesses,” said SBA Acting Administrator Chris Pilkerton. “We are proud that this year’s PRIME grant awardees include organizations that are located in Opportunity Zones, which are designed to spur economic development in disadvantaged areas.”

For more information on the SBA’s PRIME grants and a list of this year’s grantees, visit www.sba.gov/content/prime-grantees.

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About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more visit www.sba.gov.