§ 648b. Grants for SBDCs

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(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.

(Pub. L. 111–240, title I, § 1402, Sept. 27, 2010, 124 Stat. 2550.)

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statute-compilations

Sec. 1402
GRANTS FOR SBDCS

statutes-at-large

Public Law 111–240
To create the Small Business Lending Fund Program to direct the Secretary of the Treasury to make capital investments in eligible institutions in order to increase the availability of credit for small businesses, to amend the Internal Revenue Code of 1986 to provide tax incentives for small business

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U.S. Code

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Pub. L. 111–240, title I, § 1402
124 Stat. 2550
section 1001 of Pub. L. 111–240

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§ 648b

Grants for SBDCs

Stat. Comp.×1

Stat.×1

U.S.C.§ 648

U.S.C.§ 632

Pub. L.Pub. L. 111–240, title I, § 1402

Stat.124 Stat. 2550

Pub. L.section 1001 of Pub. L. 111–240

Cites 5Cited by 2 across 2 sources