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West Philly business-support agency in line for up to $1.2 million in SBA money

A West Philadelphia small-business support agency is one of seven new recipients of ScaleUp America funding from the U.S. Small Business Administration.

A diverse group of civic minded people made up of Federal, State and Local officials, financial wizards, educators community organizers and locals gather at The Enterprise Center in West Philly as part of the Promise Zone initiative, a plan to fix Mantua, a broken neighborhood. Here, scission groups form to discuss Promise Zone problems and solutions on May 28, 2014. ( ED HILLE / The Philadelphia Inquirer )
A diverse group of civic minded people made up of Federal, State and Local officials, financial wizards, educators community organizers and locals gather at The Enterprise Center in West Philly as part of the Promise Zone initiative, a plan to fix Mantua, a broken neighborhood. Here, scission groups form to discuss Promise Zone problems and solutions on May 28, 2014. ( ED HILLE / The Philadelphia Inquirer )Read more
    by By Diane Mastrull, Inquirer Staff Writer | Columnist
    Published 

A West Philadelphia small-business support agency is one of seven new recipients of ScaleUp America funding from the U.S. Small Business Administration.

The Enterprise Center will receive $239,323 in the first year and is approved for $1.2 million over five years assuming it meets conditions of the contract.

ScaleUp America's aim is to help existing businesses in underserved and underrepresented communities grow, especially those owned by women and minorities.

"Starting a business is tough; growing a business is even tougher," SBA Administrator Maria Contreras-Sweet said. "The SBA's ScaleUp America program offers high potential entrepreneurs the training, support and networks they need to get to scale, enabling them to create three out of every four net new jobs. Small business hiring is the backbone of job growth, and ScaleUp is yet one more way the SBA is working to help entrepreneurs propel our economy forward."

The Enterprise Center said it would use its ScaleUp funds to provide 12 weeks of curriculum plus six months of extensive one-on-one mentoring, technical assistance, and events to help small businesses and the federally designated Promise Zone.

In addition, all participating ScaleUp Philadelphia small businesses will become part of a CEO Mastermind group of peer business leaders for networking purposes.