SBA Announces Funding Opportunity through State Trade Expansion Program
The agency said 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.
“The STEP grant program is an incredible tool, providing direct support to small businesses as they seek new and increased international sales opportunities,” SBA Administrator Jovita Carranza said in a release. “Over the last year, the SBA has focused on ways to reform the program to make it more efficient and effective for recipients and the small businesses they serve. We look forward to the continued success of STEP as we help more small businesses located around the country sell to a global customer base.”
Funding Opportunity Announcement No. OIT-STEP-2020-01 is for fiscal year 2020 and the submission period is from Feb. 6 to April 7.
“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. 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,” SBA District Director Yvette T. Collazo added in the release.