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The Small Business Opportunity Grants Act of 2024 establishes a grant program administered by the Small Business Administration to award grants of up to $20,000 each to eligible small businesses and to certain lenders. Eligible recipients include small businesses located in low- to moderate-income communities, HUBZones, rural areas, or disaster-affected areas, as well as businesses owned by women, veterans, minorities, Native Americans, individuals with disabilities, or formerly incarcerated individuals. The bill also creates a technical assistance grant program for lenders participating in the program and requires the SBA to collect and publicly report demographic data on grant recipients.
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