§648b — Title 15 Commerce and Trade | U.S. Code

Summary

The Administrator may give grants to small business development centers to help small businesses get loans or credit, win federal contracts, cut energy costs, export goods or services, use broadband, or get other targeted help. The money is divided using the formula in section 648(a)(4)(C)(i), but each State must get at least $325,000. At least 80% of each grant must pay for one‑on‑one counseling and up to 20% can pay for classes or seminars. Grantees do not have to provide non‑Federal matching funds. The Administrator must pay out the total amount within 30 days after the funds are appropriated. Congress may appropriate up to $50,000,000 for these grants.

Title 15, §648b

Commerce and Trade — Source: USLM XML via OLRC

(a)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)(1)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)The amount made available under this section to each State shall be not less than $325,000.

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

Notes & Related Subsidiaries

Editorial Notes

Codification Section was enacted as part of the Small Business Jobs Act of 2010, and not as part of the Small Business Act which comprises this chapter.

Statutory Notes and Related Subsidiaries

Definitions For definition of “Administrator” and “small business concern” as used in this section, see section 1001 of Pub. L. 111–240, set out as a note under section 632 of this title.

§648b Grants for Sbdcs

Summary

Title 15, §648b

Notes & Related Subsidiaries

Editorial Notes

Statutory Notes and Related Subsidiaries

Citations & Metadata