In-Brief

SBA announces funding opportunity through State Trade Expansion Program

The U.S. Small Business Administration announces the opening of the submission period for a funding opportunity through the State Trade Expansion Program (STEP).

The purpose of the grant opportunity is to invite proposals for funding from eligible state entities interested in, and capable of providing assistance, guidance and tools to qualified small businesses looking to engage in export-related activities.

“At the SBA, we offer grants and loan products that help capitalize on those international opportunities,” said SBA Administrator Jovita Carranza. “The STEP grant program is an incredible tool, providing direct support to small businesses as they seek new and increased international sales opportunities.”

The submission period is from Feb. 6, 2020 to April 7, 2020, the agency confirmed. 

“Exporting is an important way for U.S. small businesses to grow revenue and boost local economies. The STEP grant is designed to assist states and U.S. territories with increasing the number of small businesses that export and the value of those exports,” said SBA District Director Yvette T. Collazo.

“Through STEP, we are making additional resources available to Puerto Rico and U.S. Virgin Islands small businesses so that they have a competitive advantage in the global marketplace,” she said.

Proposals responding to this funding opportunity announcement must be posted to grants.gov by April 7, 2020.

“No other method of submission will be permitted. Proposals submitted after the stipulated deadline will be rejected without being evaluated,” the SBA said.

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This story was written by our staff based on a press release.

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