The $100M U.S. Government Small Business Navigator Grant Program is finally here, and the questions about applying and receiving these grants are pouring in.
AfricanAmericanGrants.org is committed to ensuring that you get the latest grant updates on the SBA pilot program as they unfold.
The SBA grant just launched on May 25th focuses on small business owners who The SBA Community Navigator Grant, according to the U.S. Small Business Administration’s website.
In line with the American Rescue Plan Act, provides business mentorship, counseling, networking, and financial assistance to minority small business owners.
Since the launch of this pilot program, there have been lots of questions about those who actually qualify for this grant program.
SBA Small Business Grants
SBA small business grants are funding programs that the U.S. Small Business Administration provides on their website to help support small businesses.
The SBA provides so much more than just funding for small businesses.
As a small business owner, you can register on the SBA to get business mentorship, counseling, a comprehensive guide to starting and growing your business, and so much more.
The tools and resources that the SBA provides small businesses various grants and other funding opportunities and training, depending on what your interests are.
One thing that sure brings a lot of people to the SBA goes way beyond just applying for grants.
Though you can apply for the SBA EIDL grants, the SBA Community Navigator Grant Program to the SBA Paycheck Protection Program (PPP) Loan Funding Initiative to various other generally accessible SBA grants on the SBA website.
However, the major difference being that the SBA grants unlike the other SBA loan programs do not need to be repaid.
Other grant sources for minority businesses, veteran-owned businesses, and Black women starting their own businesses exist, as the 31 grants for Black women reveal.
However, the SBA grant programs cater for a plethora of businesses irrespective of what niche or business specialization you may find yourself.
The SBA Navigator Grant Now Open for Applications
The SBA Community Navigator Pilot Program will be providing a total of $100 million in grants which will amount to about $1 to $5 million per applicant for a period of two years.
It is important to understand that the “performance period” basically refers to the period that eligible organizations are vested with the responsibilities of providing counseling, networking, mentorship, and leadership programs through the provision of community agency resources.
It is the hope of the SBA pilot program to help small businesses who have suffered in one way or the other from the economic impact of the coronavirus pandemic.
The funding process has now started. We are going to be looking at the step-by-step process of applying for these grants below.
Updates on the SBA Community Navigator Program
The latest updates on the SBA pilot program has to do with the eligibility criteria for those applying for the SBA Community Navigator Grant Program.
We have compiled these questions in a way to help you navigate the complexities that small businesses may experience applying for SBA grants.
Here are some of the top questions that we have received at AAG:
Do I qualify for the $100 Million SBA Grant?
This is one of the top questions we get about the SBA pilot program. If you are a Black-owned business or starting one, you are eligible to apply for the SBA Community Navigator Grant Program.
However, there are a number of eligibility criteria you have to meet to be awarded the SBA grant.
Here are some question you should ask yourself — Is your business a sole proprietorship, an LLC or an NGO?
Knowing how your business. is registered as can help you determine if you are able to send in your application for the SBA Community Navigator Grant Program.
How Much Can I Get with the SBA Pilot Program?
The amount you get with the SBA Community Navigator Grant Program is between 1-3 million dollars. It is essential to understand the criteria that the SBA has stipulated for you to get the maximum amount.
This is going to help guide you as to providing the right documentation that you need that will help you understand the different step-by-step-application process that is required by the SBA.
When you have checked and know for sure that you do actually qualify for the grant, then you can proceed with the actual application without any further delays.
How Soon Can I get the Grants?
The application for the SBA program is still quite new, and as such as the estimated applications that are projected to be submitted may create a delay in the grants being awarded.
It is important to ensure that you do everything you can on your end to ensure that you meet the grant eligibility criteria, and that you provide supporting documentation.
I got the PPP, Can I Still Apply?
The SBA Paycheck Protection Program is a loan to help provide financial assistance to businesses and help keep staffing on the payroll.
Though, there is a path to the loan forgiveness, this SBA pilot program is a grant that does not require any form of repayment whatsoever.
The time to apply for this grant is now. You want to make sure that you have all that you need to get the application process going as soon as possible.
Where Do I Apply for the SBA $100M Grants Now?
To apply for the SBA grant, you want to head directly to the Small Business Administration website. The process is a streamlined one that is seamless and does not require any form of previous funding disclosure.
The process is one that will help you provide details about your business in a manner that will make your application an easy one that you can manage from the comfort of your home.
The bottom line remains that grant applications can take time and some commitment. However, this is definitely going to be worth every work you put into the process.
The SBA Community Navigator program is one that is processed at a first-come-first-served basis.
Now is the time to get your applications in to give you a great chance of getting your business dreams funded by the Small Business Administration pilot program today!