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15 U.S.C. § 648b - U.S. Code - Unannotated Title 15. Commerce and Trade § 648b. Grants for SBDCs

Current as of January 01, 2024 | Updated by Findlaw Staff

(a)In general

The Administrator may make grants to small business development centers under section 648 of this title to provide targeted technical assistance to small business concerns seeking access to capital or credit, Federal procurement opportunities, energy efficiency audits to reduce energy bills, opportunities to export products or provide services to foreign customers, adopting, making innovations in, and using broadband technologies, or other assistance.

(b)Allocation

(1)In general

Subject to paragraph (2), and notwithstanding the requirements of section 648(a)(4)(C)(iii) of this title, the amount appropriated to carry out this section shall be allocated under the formula under section 648(a)(4)(C)(i) of this title.

(2)Minimum funding

The amount made available under this section to each State shall be not less than $325,000.

(3)Types of uses

Of the total amount of the grants awarded by the Administrator under this section--

(A) not less than 80 percent shall be used for counseling of small business concerns; and

(B) not more than 20 percent may be used for classes or seminars.

(c)No non-Federal share required

Notwithstanding section 648(a)(4)(A) of this title, the recipient of a grant made under this section shall not be required to provide non-Federal matching funds.

(d)Distribution

Not later than 30 days after the date on which amounts are appropriated to carry out this section, the Administrator shall disburse the total amount appropriated.

(e)Authorization of appropriations

There is authorized to be appropriated to the Administrator $50,000,000 to carry out this section.

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Cite this article: FindLaw.com - 15 U.S.C. § 648b - U.S. Code - Unannotated Title 15. Commerce and Trade § 648b. Grants for SBDCs - last updated January 01, 2024 | https://codes.findlaw.com/us/title-15-commerce-and-trade/15-usc-sect-648b/

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