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Economic Development of Micro-Enterprises
Conditions ||| Activities
(A "micro-enterprise" is defined by HUD as a business with 5 or fewer full-time employees, one of whom owns the business.)
These activities provide technical assistance in business start-up and expansion to lower income entrepreneurs or to very small businesses operating within targeted neighborhoods. Activities include management counseling. Activities address Objective B3 in the Five-Year Plan and generally serve households with incomes of 80% or less of the median.
The Commission will fund activities which provide technical assistance or loans to individuals starting or operating micro-enterprises where:
the low or moderate income owner's job within the business is expected to become that individual's principal occupation within three years of provision of assistance; or
the micro-enterprise is expected to create at least one full-time equivalent position for a low or moderate income person, other than an owner, within three years.
The 1999 target goal is to help 29 persons start or maintain the viability of their businesses, with a benchmark survival rate of 80% for a minimum of three years.
For information on how to submit a proposal in this category, click here.
Assistance to any micro-enterprise is limited to a three-year period from the first CDBG-funded contact with the non-profit agency funded by the CDBG Office.
Ongoing / currently funded activities in this category include:
Community Action Coalition: Business Development ("It's My Business")
Madison Development Corporation: Small Business Enterprise