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SBA export funds available to states starting March 1

Mon, Feb 28th 2011 12:00 am
By DAVID BERTOLA
dbertola@bizjournals.com | 716-541-1621

Beginning March 1, states can apply for U.S. Small Business Administration grants to support efforts to increase exporting by small businesses.

The State Trade and Export Promotion (STEP) pilot grant initiative will provide up to $90 million in grants to states over the next three years. Details will be posted at www.grants.gov on March 1,

The STEP pilot grant initiative is aimed at increasing the number of small businesses that want to export and increase the value of goods for small businesses that currently export. Established by the Small Business Jobs Act of 2010, the 50 states, the District of Columbia and U.S. territories are all eligible to apply for grants, which will be awarded on a competitive basis.

The Jobs Act authorized up to $90 million over three fiscal years - $30 million each year - beginning with current fiscal year 2011. Individual state project award amounts will vary based on each state's proposed project plan and budget.

A state may not submit more than one application for a grant under the initiative, but may apply each federal fiscal year through the three-year term of the pilot grant initiative. Among the activities supported with grant dollars under this initiative are:

• Participation in foreign trade missions

• Foreign market sales trips

• Design of international marketing products or campaigns

• Export trade show exhibits

• Training workshops or export initiatives that are in line with the goals of the pilot grant initiative.

The application period is March 1-April 26. Awards for the first year of the grant program will be issued this summer. For more information, visit www.sba.gov/STEP.