CONCORD — The N.H. Community Development Finance Authority Monday said it has approved Community Development Block Grant awards totaling $340,000 to fund microenterprise efforts at three economic development incubators in the state.

The grants, which are pending confirmation from the Executive Council, are targeted to help fund training programs, technical assistance, and loan pools at the Enterprise Center of Plymouth, the Hannah Grimes Center in Keene, and the Women's Rural Entrepreneurial Network (WREN) in Bethlehem.

“These organizations help entrepreneurs and very small businesses get off the ground and grow,” said Kevin Flynn, CDFA communications director, in a news release Monday.

“They're providing training and workshops, professional consultation, loan capitol — even workspace – to nurture these microenterprises into self-sufficient operations.”

The first award went to Grafton County, which subgranted $92,750 to the Enterprise Center of Plymouth. The funds will go toward workshops on starting a business, entrepreneurships for veterans, and business taxes; in-depth seminars on sales and marketing, human resources, and bookkeeping; and mentoring programs for promising businesses and products.

The Plymouth award will help 41 small business beneficiaries.

Another grant in the amount of $82,250 was made to the city of Keene for the Hannah Grimes Center to fund several ongoing technical assistance programs, including the Business Incubator Program, the Industry Cluster Program, the Entrepreneur Project, and the Business Start Up Program.

Up to 28 small businesses will benefit.

Also, the town of Bethlehem received a $165,000 grant on behalf of WREN to finance such ongoing initiatives as the WREN Business and Entrepreneurial Technical Assistance (BETA) program, the Computer Tutorial Program, Vendor Readiness classes, and the Local Works Marketplace Gallery at WREN.

The WREN funds will benefit 60 aspiring entrepreneurs, officials said.

The three organizations originally requested a total of $475,000 in microenterprise funding, but federal reductions in the CDBG program necessitated reductions to the grant amounts, the CDFA said.

“It's disappointing that having fewer dollars the past two years has resulted in fewer small businesses we can help,” said Flynn. “Many of the people receiving services from these organizations are low to moderate income. Without access to a microenterprise entity, their ability to get training and capital is limited. These are the businesses and products that will drive New Hampshire's economic future.”

The CDBG program funds provide housing and create jobs primarily for low- and moderate-income people. Funds are provided to the state of New Hampshire by the U.S. Department of Housing and Urban Development, and administered by CDFA.

Recipients of the federal moneys are municipalities or counties that often subgrant their awards to qualified nonprofits or economic development entities. Each project is evaluated on several criteria, including impact on low- and moderate-income residents and the acquisition of matching funding.