Application Proposals. Range of Approval/Disapproval Time: Variable. Appeals: Not applicable. Renewals: Contact the Federal agency. INFORMATION CONTACTS: Regional or Local Office: SBA District Offices listed in Appendix IV of the Catalog. Headquarters Office: Associate Administrator for Minority Enterprise Development, 409 3rd Street, SW., Washington, DC 20416. Telephone: (202) 205-6410 MICROLOAN DEMONSTRATION PROGRAM Current Year: Grants: $12,000,000 Loans: $71,995,000 Other: $0,000 Total: $83,995,000 OBJECTIVES: To assist women, low-income, and minority entrepreneurs, business owners, and other individuals possessing the capability to operate successful business concerns and to assist small business concerns in those areas suffering from a lack of credit due to economic downturns. Under the Program, the Small Business Administration (SBA) will make loans or provide guaranties to private, non-profit, and quasi-governmental organizations (intermediary lenders) who will use the loan funds to make short-term, fixed interest rate micro-loans in amounts up to $25,000 to start-up, newly established, and growing small business concerns. 552 These micro-loans are to be used exclusively for working capital, inventory, supplies, furniture, fixtures, machinery, and/or equipment. In addition, the SBA will make grants to participating intermediary lenders
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