15.240 - COMMUNITY MICROENTERPRISE DEVELOPMENT ORGANIZATION GRANT PROGRAM.
15.240 COMMUNITY MICROENTERPRISE DEVELOPMENT
ORGANIZATION GRANT PROGRAM.
1. The department shall award grants to community microenterprise
development organizations. A grant shall not be awarded to a
community microenterprise development organization unless the
community microenterprise development organization can match at least
twenty percent of the funds to be awarded. The matching funds may be
from private foundations, federal or local government funds,
financial institutions, or individuals.
2. In awarding grants to community microenterprise development
organizations, the department shall consider all of the following:
a. The overall geographic diversity of the applicants for
grants, including both urban and rural communities.
b. The ability of a community microenterprise development
organization to provide services to low-income and moderate-income
individuals and underserved communities. In determining the ability
to provide services, all of the following shall be considered:
(1) The ability to identify potential microentrepreneurs within a
community.
(2) The capacity to perform client assessment and screening.
(3) The ability to provide business training and technical
assistance, including information about access to markets, business
management, and financial literacy.
(4) The capacity to provide assistance in securing financing.
c. The scope of services offered and the efficient delivery
of such services, especially to low-income, moderate-income, and
minority individuals.
d. The ability to monitor the progress of clients and to
identify those clients in need of additional technical and financial
assistance.
e. The ability to build relationships and coordinate
resources with other entities supporting microentrepreneurs. These
entities may include but are not limited to community colleges,
cooperative extension services, small business development centers,
chambers of commerce, community economic development organizations,
workforce centers, and community nonprofit service providers that
serve low-income and moderate-income individuals.
f. The ability to coordinate activities with any targeted
small business advocate services operating in the community.
g. The amount and sufficiency of operating funds available.
h. Any other criteria the department deems reasonable. &n;
Section History: Recent Form
2008 Acts, ch 1178, §3