SPARK Act
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Summary
The SPARK Act amends the Small Business Act to establish a federal program providing grants to incubators, accelerators, and similar organizations serving entrepreneurs in underserved communities. The program would fund 5-year projects offering mentorship, counseling, and business support services to startup and growing small businesses, with a focus on women, minorities, rural entrepreneurs, veterans, individuals with disabilities, and formerly incarcerated individuals. Eligible entities include nonprofits, community development financial institutions, minority depository institutions, and educational institutions.
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