Small business-to-small business (SMB) is a federal grant program under which certain employers qualify for grant payments, typically for a period of at least five years. SMB applicants must have at least 20 employees and must have a sales organization of at least $1 million.
If the applicant has at least $3.5 million in sales and employs up to 20 employees, the grant will be equal to 35 percent of that amount. For the first five years of the grant period, the employer must pay an estimated cost-of-living adjustment (COLA) equal to a 3 percent annual rise in the consumer price index (CPI) for all employees, in addition to any other additional Federal income taxes it may legally owe.
However, there may be certain restrictions regarding SMB eligibility for certain SME grant recipients, and certain business partnerships. See the Small Business Administration’s (SBA) Publication 505 for more information.
Do SMB recipients have to be small?
Generally, SMB recipients are limited to hiring employees of $7,500 to $13,500 in annual income and to hiring up to 20 employees within the three-year grant period. All employees must receive training in the applicable craft or craft specialization, however. SMB recipients cannot hire employees who are currently engaged in employment with the same employer, and SMB applications are only considered from September 1 to April 1 of the grant period, not each month.
Why are SMB grants made?
SBA works with more than 6,000 organizations, including small business, medium-sized business, and large business partners, annually to establish and renew grant programs for small businesses. The primary purpose of these programs is to assist business owners and employees to increase productivity while improving their bottom line. For more information regarding SMB grant programs, see SMB Grants.
What is a Small Business Administration (SBA) Small Business Job Training Grant (Program)?
A “Small Business Job Training Grant” is a program that awards up to $500 for each month of employment. Applicants must meet qualifying income and employment criteria to receive the grant. Job training activities include job sharing, career counseling, educational support, job searches, technical assistance, training programs, technical assistance programs, technical assistance programs, technical assistance programs, job searches, and other training.
See the Small Business Administration (SBA) for more information.
How is the grant administered?
Grantees must maintain records
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