• 48°

Catalyst Center receives Small Business Administration grant

HUNTSVILLE – This time of year, receiving a gift isn’t unusual. Employees of The Catalyst Center for Business & Entrepreneurship have received a gift in the form of a new grant.

Company officials announced on Dec. 4 that the Small Business Administration or SBA had awarded the grant in its network of resource providers. Drake State Community and Technical College, 3421 Meridian Street N. in Huntsville hosted the meeting.

The grant will help to fund efforts with the 7(j) Management & Technical Assistance Program. A network of resource providers, like The Catalyst, will provide high-quality assistance to eligible small disadvantaged businesses.

The 7(j) program’s assistance encompasses a wide spectrum of services to include one-on-one customized coaching, business training and networking/matchmaking opportunities.

“A key goal of the program is to help firms successfully compete for federal, state and local contracting opportunities as a prime contractor or subcontractor,” Leigh Christian said. Christian works as TechRich 7(j) Project Manager.

Companies must satisfy a few requirements for eligibility to participate in free training.

* Ownerships — Economically and socially disadvantaged individuals who own a small business qualify participation.

* The rate — A small business can qualify if offices are located in areas of high unemployment or low income.

* Income — Individuals with a low income can qualify for the grant.

* Business pedigree — A small business qualifies that is certified 8(a) participant; is a HUBZone small business; or its status is ‘woman-owned small business’ that has economic disadvantages.

SBA awarded The Catalyst a one-year grant of $350,000 for five option years to administer the 7(j) program in Management & Technical Assistance. Strategic Partners for this grant include Drake State Community and Technical College, Neighborhood Concepts, Regions Bank, Redstone Federal Credit Union and Live Oak Bank.

Drake State will provide an Entrepreneurship Certificate program. Neighborhood Concepts and Redstone Federal Credit Union will offer loans with the Business Assistance Microloan or BAM program.

Live Oak Bank will support 7(j) companies relative to mergers, acquisitions and growth in contract mobilization. Regions will supply facilities, coaches and assist in reaching low- to moderate-income individuals within their North Alabama footprint.

The Catalyst Center serves entrepreneurs and small business owners in every stage of business. The organization provides best-in-class coaching, in-demand services and relevant programs to foster the success of small businesses.

The Catalyst is a 501(c)3 nonprofit organization, and all contributions are 100-percent tax deductible. The Catalyst’s address is 515 Sparkman Drive in Huntsville. For information, call 256-490-8190 or visit catalystcenter.org.

Business

The State Of The Rocket City Trash Pandas 2022

FRONT PAGE FEATURED

Rocket City Marathon 2022: New Format, New Course, New Day

James Clemens High School

Christmas Card Lane brightens downtown streets

Liberty Middle School

World War II, Korea veteran Walt Siffringer accepts Quilt of Valor

Bob Jones High School

beEntrepreneurial [beE] High School Idea Competition sets Dec. 7 deadline

Madison

School board approves bid to turn the old West Madison campus into PreK Center

Bob Jones High School

Greenpower racing builds STEM skills and confidence

Madison

Madison Animal Rescue Foundation in need of new foster homes

Madison

How to submit your child’s “Letter to Santa”

Events

Neighbors: Community theater groups in Decatur to stage ‘ELF: The Musical’

Events

Driving Nights for Galaxy of Lights begin today at Huntsville Botanical Garden

Events

Polar Express Christmas Tree Trail lighting and Wassail Fest being held Friday in downtown Madison

Polar Express Christmas Tree Trail lighting and Wassail Fest being held Friday in downtown Madison

Bob Jones High School

Former Patriot named assistant director of coaching at North Alabama SC

Former Patriot named assistant director of coaching at North Alabama SC

Digital Version

Check out the new issue of Madison Living Magazine

James Clemens High School

James Clemens medical and drama students, first responders simulate trauma scene

Madison

Curbside recycling recovery assistance throughout the weekend

Bob Jones High School

Scholarships at stake in American Legion oratorical contest

Bob Jones High School

Nichols’ podcast avers multi-disciplines feed theatre

Business

Town Madison becomes city’s first Arts & Entertainment District

Events

Asbury Church to present “Lessons & Carols: The Songs of Christmas” on Dec. 4

Events

Christmas at Burritt on the Mountain

Events

Madison Community Band to present “Christmas Journey”

Events

Winter Park at The Orion Amphitheater is now open!

Harvest

Still Serving Veterans named ‘Nonprofit of the Year

x