Virginia Awarded Two US Small Business Administration Portable Assistance Grants

Comments: 0

The Virginia SBDC Network is pleased to announce that it has been awarded 2 of the 7 U.S. Small Business Administration Portable Assistance Grants awarded nationally. These grants support programs that assist small businesses in communities suffering from a major disaster or economic hardship. In the case of Virginia, the assistance will be directed to small businesses impacted by defense contract cutbacks in Northern Virginia and in Hampton Roads.

The first grant will assist federal contractors in Northern Virginia in exporting their services to global markets, including identifying target markets, understanding security regulations and policies, securing financing, etc.

The second grant will establish the Southeastern Virginia Contracting Institute, designed to educate small contractors in new ways to approach, bid, and execute government contractors in the future, and it includes training, one-on-one confidential counseling, and peer mentoring.

These two programs will support job increases, capital formation, and sales growth, all of which will boost these local Virginia economies.