Program for Investment in Microentrepreneurs (PRIME)
Description
The PRIME program provides funding for the provision of technical assistance and training to microentrepreneurs and start-up businesses.
Eligibility
- A microenterprise development organization or program (or group or collaborative thereof), such as a nonprofit community development financial institution (CDFI) or similar entity, that has a demonstrated record of delivering microenterprise services to disadvantaged entrepreneurs
- An intermediary (as defined in Section 8.1) which has experience in delivering technical assistance to disadvantaged entrepreneurs
- A microenterprise development organization or program (as defined in Section 8.1) that is accountable to a local community, working in conjunction with a state or local government or Indian tribe
- An Indian tribe acting on its own, if it can certify that no private organization or program referred to above exists within its jurisdiction
Role In Creative Placemaking
Funds may be useful to build the capacity of small arts or culture based businesses in corridors or regions targeted for creative placemaking efforts.
Match
50% match required, but can be waived in special circumstances
Previous
International Rescue Committee – San Diego, CA
Tampa Bay Black Business Investment Corporation – Tampa, FL
Role in Creative Placemaking
This section represents our attempt to capture how this specific funding opportunity might fit into a placemaking initiative.
Eligibility
Who can apply? Eligibility is often limited, but in partnership with other entities you may identify an access point, such as subgrant opportunities. This information can help you determine which potential partners in your community might be able to access the funds.
Previous Projects/Grantees
These examples show how these funds have been used for creative or placemaking endeavors in the past, the types of organizations that have successfully accessed the funds and/or the types of activities for which the funds can be used.
Max Award
Maximum funding amounts can vary from year to year. We have provided the most recent information available. Where available, we also include a median or a range in cases in which the maximum is not typical of an average award.
Match Requirement
Most federal programs require some form of cost sharing. This is expressed differently for different agencies and programs. Sometimes a direct 1:1 match is specified. Other times, the application will state the maximum percentage of a project cost that the funding award can cover. We include this information, where available, in order to give you a sense of what to expect when applying for a particular funding program.
Compliance
Most federal funding programs will require financial and progress reports at least annually, along with a final report. We consider this to be a "moderate" compliance burden. Where a higher degree of data collection and reporting is indicated, we convey that information with a "substantial" rating.