SBA Opens Funding Program for Small Businesses

The U.S. Small Business Administration (SBA) has announced the opening of the submission period for a funding opportunity through the State Trade Expansion Program (STEP).

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.

“Under President Trump’s leadership, our nation has embarked on the implementation of new, modern trade agreements. As we continue to see more fair and reciprocal trade deals enacted, exporting is a tremendous way for American small businesses to grow and compete in a global economy. At the SBA, we offer grants and loan products that help capitalize on those international opportunities,” said SBA Administrator Jovita Carranza.

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“The STEP grant program is an incredible tool, providing direct support to small businesses as they seek new and increased international sales opportunities. 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.”

According to SBA, the funding opportunity announcement is for fiscal year 2020 and the submission period is from February 6, 2020 – April 7, 2020.