From big cities to small rural communities, small businesses around the country can benefit from grant funding. This week, several large cities announced new programs to support their local business community. Read on for opportunities in NYC, Detroit, Boulder, and more.
Antares REACH Grant Program Providing $20K in Grants to Underrepresented Entrepreneurs
Antares Capital, Hello Alice, and the Global Entrepreneurship Network are partnering to provide a new small business grant opportunity. The Antares REACH Grant Program will provide $20,000 grants to underrepresented entrepreneurs preparing for their next stage of growth.
To qualify, businesses must be at least 51 percent owned or operated by women, people of color, members of the LGBTQIA+ community, disabled individuals, or other underrepresented groups. Applicants must also have an annual revenue under $5 million and demonstrate a financial need and plans for awarded funds.
The application deadline is July 15.
Detroit Advancing Community Business
Ford’s Michigan Central is launching a new $500,000 grant fund for businesses in Detroit’s Corktown neighborhood. The Advancing Community Business grant program will support about 25 small businesses around the Michigan Central Innovation District. In addition to funding, the program offers mentorship, education, training, and loan support.
To qualify, neighborhood businesses must be in operation between one and ten years, have two or more employees, and an annual revenue of less than $500,000. June 30 is the deadline to apply.
Boulder ARPA Small Business Grants
Boulder, Colorado is using some of its federal American Rescue Plan Act funding for a new small business grant program. The city is offering two opportunities: one small business grant and another focused specifically on child care businesses. Grants may range from $1,000 to $5,000, based on the financial need, business conditions, and planned use of funds.
June 20 is the application deadline, and the city expects to begin distributing funds in July.
Seattle Ready for Business Fund
Comcast is partnering with the Greater Seattle Business Association to launch a new $200,000 grant program for Washington small businesses. The Ready For Business Fund offers cash grants of $2,500, and will support about 80 small businesses.
Priority will be given to small businesses owned by people of color, women, members of the LGBTQ+ community, and those in rural areas. The application period opens June 13.
Millbury ARPA Small Business Recovery Grant Program
The Town of Millbury, Massachusetts is offering small business grants to support pandemic recovery efforts. The town’s ARPA Small Business Recovery Grant Program offers emergency funding for businesses that suffered financial loss or need support to keep their doors open.
Eligible businesses may apply for one-time grants of up to $15,000, but the final award will be based on need and economic impact. Select businesses may qualify for more than $15,000.
NYC 2022 Single Neighborhood Open Streets Grant
New York City’s 2022 Single Neighborhood Open Streets Grant is now accepting applications. The program offers up to $50,000 to business and economic development groups that support recovery efforts throughout the city.
Businesses do not apply for grants directly. Instead, applicants should be Community Based Development Organizations (CBDOs), Business Improvement Districts (BIDs), local development corporations, or merchant associations that partner with the city’s Open Streets program. Local businesses in those neighborhoods or commercial districts may then benefit from this funding.
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This article, "$20K in Small Business Grants Available to Underrepresented Entrepreneurs" was first published on Small Business Trends
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Annie Pilon, Khareem Sudlow
