"The PRIME program was created to help the smallest of small businesses. These are entrepreneurs at the most basic stage of starting a business and who typically require the greatest amount of committed service and guidance," SBA Administrator Hector V. Barreto said. "In order to succeed, they require training and technical assistance that must be accessible."
While the U.S. Department of Commerce has estimated that more than two million businesses in the United States are operated by low-income and very low-income entrepreneurs, other studies indicate that only a mere fraction of this population receives business assistance. The major focus of the PRIME program is business-based assistance to precisely these low-income and very low-income entrepreneurs who lack sufficient training and education to gain access to capital to establish and expand their own small businesses.
MaineStream Finance was one of 69 organizations in 28 states selected by the SBA to provide this service. During this inaugural year of the PRIME program, SBA is focusing on economically distressed areas.
MaineStream Finance provides one-on-one technical assistance and classroom training through the Incubator Without Walls program. For more information, call Sally Clark at 973-3612.
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