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NEW YORK, NY, November 11, 2022 /24-7PressRelease/ -- SilverBills has been awarded a $2.5 Million Small Business Innovation Research ("SBIR") grant from the National Institute on Aging of the National Institutes of Health (Award Number 1R44AG080843). The direct to Phase II SBIR award will fund the development of additional features of the SilverBills technical application that address legal and financial challenges faced by LGBTQ+ older adults with impaired cognition. Funds will aid the further development of supportive tools such that individuals can age safely and securely with the assistance of SilverBills' financial technology and services. This is SilverBills' second award from the National Institute on Aging of the National Institutes of Health.
In the U.S. there is an estimated population of 2.7 million LGBTQ+ older adults. According to several studies, the economic stability of LGBTQ+ individuals is negatively impacted by historic discrimination that impeded their ability to save and accumulate wealth. Almost one third of LGBTQ+ adults aged 50 and older live on 200% of the Federal Poverty Level or less: a significantly larger proportion of impoverished LGBTQ+ individuals as compared to the non-LGBTQ+ population. The goal of the grant is to develop additional software features that will improve the financial wellbeing of LGBTQ+ older adults with cognitive impairment by enhancing the SilverBills application with tools that will help prevent fraud, encourage savings, and provide support for legal issues.
Principal Investigator Marci Lobel-Esrig, Founder, CEO and General Counsel of SilverBills stated that "We are honored to once again receive federal funding to build additional technology tools that we anticipate will greatly benefit LGBTQ+ older adults.". Dr. Eric Chess and his research team at the University of Denver will collaborate on the project. Dr. Chess is the Director of The Paul Freeman Financial Security Program at the Knoebel Institute for Healthy Aging and is a physician and attorney with a focus on prevention, wellness and aging populations.
About SilverBills. SilverBills is a national venture backed company providing financial management services to individuals, families and professionals. For more details, please visit https://silverbills.com/
The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.
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