Operational Assistance Program
Penn Venture Partners deploys Operational Assistance (“OA”) grant funds to provide directly, or indirectly through third parties and affiliates, specific, no-cost Operational Assistance to Smaller Enterprises in which it has made or could make Equity Capital Investments ("actual or prospective portfolio concerns") with the primary objective of economic development of Low-Income Geographic Areas (“LI Areas”, see 13 C.F.R. § 108.50 for definitions of terms). Penn Venture Partners provides OA through the use of licensed professionals, when necessary. "Grant funds" include both the Federal funds obligated by SBA under the grant award for use by the Fund, and a non-Federal share of the grant award generously provided by Ben Franklin of Central and Northern Pennsylvania, the Appalachian Regional Commission, and the F.B. Heron Foundation.
Operational Assistance grant funds and related project activities must fall within certain acceptable uses. Such acceptable uses may include management, marketing, accounting, legal, engineering, and other technical assistance to identified actual or prospective portfolio concerns. Penn Venture Partners ensures that OA is provided to the actual or prospective portfolio concern, and is directed towards the business development of the actual or prospective portfolio concern for the shared benefit of its owners, employees and community.
Examples of acceptable OA include, but are not limited to:
Examples of acceptable OA training services include:
For more information concerning Penn Venture Partners' Operational Assistance Grant Financing Program, please contact Mary Vovakes, Vice President.