RECOMMENDATION(S):
APPROVE and AUTHORIZE the Employment and Human Services Director, or designee, on behalf of the Workforce Development Board, Small Business Development Center, to apply for and accept grant funding from the Governor's Office of Business and Economic Development (GO-Biz), Office of Small Business Advocate, in an amount not to exceed $40,000 for the 2015-2016 Capital Infusion Program for the period of October 1, 2015 through September 30, 2016. (100% State)
FISCAL IMPACT:
County to receive an amount not to exceed $40,000 (100% State) (1:1 State Small Business Administration match) No County match)
BACKGROUND:
The purpose of this grant is to help small businesses and entrepreneurs navigate the financing landscape and successfully access the funding needed to operate and/or expand their businesses. Challenges in accessing capital remain a barrier to growth for the state's small business base. The grant funds will be used to provide one-on-one business consulting on capital infusion.
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