Establishes a pilot program for the Department of Commerce to advance funds to public benefit nonprofits with recent grants.

The bill creates a pilot program allowing the Department of Commerce to provide advance funds to public benefit nonprofit corporations that have received grants from the department. Eligible nonprofits must have been awarded a grant within six months, performed satisfactorily under previous grants, and been in business for at least three years. The advance funds, limited to 25% of the grant or $100,000, must be used for the purpose stated in the contract. The department must develop equity-driven procedures for demonstrating need and consult with impacted communities.

Establishes a pilot program for the Department of Commerce to advance funds to public benefit nonprofits with recent grants.

The bill creates a pilot program allowing the Department of Commerce to provide advance funds to public benefit nonprofit corporations that have received grants from the department. Eligible nonprofits must have been awarded a grant within six months, performed satisfactorily under previous grants, and been in business for at least three years. The advance funds, limited to 25% of the grant or $100,000, must be used for the purpose stated in the contract. The department must develop equity-driven procedures for demonstrating need and consult with impacted communities.