SBA: Deadline extended for $100 million in grants to agencies that help small firms

The deadline has been extended to July 23 for municipalities, states and nonprofits to apply for federal funding to help small businesses recover from the pandemic, the U.S. Small Business Administration announced on Thursday.

SBA is accepting applications from town, county and state governments, nonprofits and other groups for the $100 million in grants. The money is to be used for assistance to small businesses, particularly those owned by women, veterans and members of minority groups or located in poor neighborhoods, SBA officials said.

The Community Navigator grants are a way for SBA "to connect with small businesses that have historically been underserved or left behind," said agency administrator Isabella Casillas Guzman.

The grants are between $1 million and $5 million and will pay for services over a two-year period. They were established earlier this year by Congress and President Joe Biden.

More information may be found at sba.gov/navigators.

"Our underrepresented, women and Native American businesses need our support now to grow and strengthen our economy," said Natalie Madeira Cofield, who directs the agency’s efforts to aid women entrepreneurs.

She and others said recipients of the Navigator grants will be expected to provide training, counseling and advice to small business owners besides helping them to apply for monetary aid from SBA.

By James T. Madore

james.madore@newsday.comJamesTMadore

James T. Madore writes about Long Island business news including the economy, development, and the relationship between government and business. He previously served as Albany bureau chief.