The Program for Investment in Microentrepreneurs Act of 1999 (the PRIME Act) became law on November 12, 1999 with the passage of Pub.
106-102 (15 U.S.C.
§ 6901 note).
The PRIME Act authorizes the SBA Administrator to establish a program for the purposes of:
providing training and technical assistance to disadvantaged entrepreneurs; (ii) providing training and capacity building assistance to microenterprise development organizations (MDOs) and programs; (iii) aiding in Research and development of best practices for microenterprise and technical assistance programs for disadvantaged entrepreneurs; and (iv) for other activities as the SBA Administrator determines.
This year, SBA will concentrate resources in the use of (1) training and technical assistance to strengthen cooperatives serving economically disadvantaged entrepreneurs and areas; and (2) training and technical assistance to support entrepreneurship among ex-offenders in the criminal justice system, especially those on parole, probation or incarcerated persons soon to be released.