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Saturday, September 24, 2016

$50,000 Grants Awarded By SBA Growth Accelerator Fund Competition

$50,000_grants_awarded_by_sba
The U.S. Small Business Administration (SBA) awarded a total of $3.4 million in it's annual Growth Accelerator Fund Competition. The SBA announced 68 recipients with two companies in Kentucky who each received grants of $50,000.

Kentucky is one of 32 states in which grants were awarded. The grants will be a big economic boost for small businesses in states like Kentucky. The purpose of the competition is explained by SBA Administrator Maria Contreras-Sweet, “SBA created the Growth Accelerator Fund Competition in 2014 as a way to make new connections and strengthen existing bonds within America’s small business support network, bringing entrepreneurs and innovators together and connecting them with local and national resources that support small business job creation and growth."

Accelerators help entrepreneurs

Accelerators help entrepreneurs grow in industries that range from manufacturing and tech startups, to farming and biotech. One SBA winner from Kentucky, for example, Chef Space in Louisville, is a shared, licensed commercial kitchen for food entrepreneurs who can rent the kitchen at affordable rates, providing access to resources that help build their businesses.

Applications for grants were judged by experts who had public and private business experience with entrepreneurial, investment, startup, economic development, capital formation and academic backgrounds.

To learn more about the SBA Growth Accelerator Fund Competition, go to www.sba.gov/offices/headquarters/ooi/resources/1428931

Read more at www.courier-journal.com/story/news/local/2016/09/01/2-local-small-businesses-get-50000-grants/89732534/
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