It can be challenging to start a business anywhere. But there are certain cities, neighborhoods, and historically underserved communities that have faced barriers to business success. Wells Fargo has allocated funds to several cities as part of a larger initiative to support these communities. And there are also several federally funded programs supporting diverse businesses in cities throughout the U.S. Read about the latest small business grant opportunities below.
Foundation for the Carolinas Beyond Open Grant
Foundation for the Carolinas is supporting small businesses in the Charlotte area with a new grant program. The Beyond Grant includes $20 million funded through support from Wells Fargo. The program focuses on businesses within Charlotte’s six “Corridors of Opportunity” areas, which are mainly on the west side of the city. However, the Beyond Open program is open to other businesses as well. The deadline to apply is October 28.
The Miami Foundation Open for Business Program
The Miami Foundation is supporting historically underserved entrepreneurs in Miami-Dade county through the Miami Open for Business program. The program is funded through a $20 million grant from Wells Fargo, which was announced earlier this year. The Miami Foundation is teaming up with Partners for Self Employment to offer three unique funding opportunities: Microgrants for Technology and Equipment, Asset Building Loans for Entrepreneurs Fund, and Collective Real Estate Ownership Funding. The first round of Microgrant applications are due November 7. The due date for other programs is November 28.
Accelerate Fort Worth Small Business Accessibility Grant Program
Accelerate Fort Worth Foundation recently opened applications for its Small Business Accessibility Grant program. To qualify for funding, individuals must own or work for a business in Tarrant County that has been in operation less than five years with under $250,000 in sales. This is an ongoing program, but those looking for funding by November should apply by October 14.
Cook County Source Grow Grant Program
Cook County, Illinois is launching a new funding opportunity for local businesses called the Source Grow Grant Program. The county is offering $71 million from its allocation of American Rescue Plan Act funds. Qualified businesses that were negatively impacted by the pandemic can apply for up to $10,000, along with one-on-one business counseling. The application period is open now nd will close when funds have been distributed.
Baltimore Community Lending Grant
Truist Foundation is providing $600,000 to Baltimore Community Lending to support the city’s small businesses. The grant will help BCL expand its business coaching program and streamline its loan-making system. The organization focuses mainly on supporting women and minority-owned businesses that have faced systemic barriers to funding. The grant is part of a $120 million commitment from Truist to support these businesses.
Small Business Deals
Seattle Storefront Repair Grants
Seattle is offering nearly $2 million in grants to small businesses that have sustained storefront damage over the past couple years. Money can be used to repair windows, doors, and storefronts damaged since the start of 2021. Money is available in $2,000 increments. To qualify, businesses must have less than $7 million in revenue and fewer than 50 employees. The application period opens October 18 and will close when funds have been allocated.
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