SBA awards 11 organizations with funds for pilot program

9/27/2011

The U.S. Small Business Administration recently awarded funds to 11 grantees as part of its Small Business Teaming Pilot Program, according to the SBA's website.

Grantees - which include the Lewiston, Idaho-based Clearwater Economic Development Association and the San Diego State University Research Foundation - were chosen from more than 100 applicants and awarded funds ranging from $200,000 to $500,000, totaling approximately $5 million.

The goal of the SBA loan pilot is for these organizations to help small businesses find other firms interested in teaming up to complete federal contracts, grow and create jobs. Grantees will be able to collaborate with the SBA District Offices, research partners and other federal, state and local government small business development programs for the initiative. 

"Government contracts are a crucial source of revenue for small businesses," said SBA Administrator Karen Mills. "The teaming pilot program will help small businesses grow and create jobs by giving them the tools they need to work together on larger contracts."

Teaming may take the form of joint ventures of mentor-protege relationships. The SBA also has a Mentor-Protege program in place to enhance the capabilities of 8(a) participants, the media outlet notes in a separate article.