SBA announces $30 million Grant Funding for WBCs

A $30 million grant funding has been announced by U.S. Small Business Administration (SBA) for Women’s Business Centers (WBCs), aiming to expand the network of WBC while assisting the WBC opening in the U.S. Virgin Islands. This initiative urges to provide specialized funding for WBCs that has primary focus on federal contracting and childcare businesses.

The significance of the funding has been underlined by Administrator Isabel Casillas Guzman stating that the expansion of the WBC network shall be beneficial for supporting women entrepreneurs. Via this initiative, women-owned small businesses can opt for virtual counseling and training services across the country with an increased access for those in rural areas, tribal lands, and military families.

A total of 152 in-person WBCs shall append specialized WBCs across all 50 states, Washington, D.C., and Puerto Rico. In addition, those NGOs that holds 501(c)(3) tax-exempt status and provides entrepreneurial services to women can apply for the funding, keeping in mind that they must be in socially and economically disadvantaged areas.

SBA’s Office of Women’s Business Ownership’s Assistant Administrator, Christina Hale stated, “Every new WBC helps open doors for women entrepreneurs who need access to training and practical assistance to stand up and grow their small businesses. By investing in women’s economic potential, the SBA is fostering innovation, creating jobs, and strengthening our communities.”