$100,000 in Grant Money Available to Underrepresented Business Owners in Texas

Founders First CDC has introduced that some $100,000 in grant cash is accessible for minority-owned companies within the state of Texas. That is the second spherical of grants being awarded by the nonprofit as a part of the Job Creators Quest Grant to assist minority and underrepresented enterprise homeowners.

Job Creators Quest Grant Offering $100K to Small Companies

 The Job Creators Quest Grant is ready as much as assist enterprise homeowners create premium wage jobs and reward diverse-led companies all through Texas to retain and develop their workforce.

The second-round grant opened for submission on June 24 and can stay open by means of July 25, 2022. With the $100,000, thirty grants might be awarded to diverse-led firms situated within the north, central east or south Texas areas. The candidates will need to have a employees of 2-20 workers and the flexibility so as to add 1-2 web new premium wage jobs within the subsequent 12 months. Beforehand $100,000 value of grants have been awarded to companies situated in Pennsylvania and New Jersey.

“We’re blissful to have the ability to make investments cash and sources in hard-working enterprise homeowners all through Texas to assist them thrive, even throughout unsure financial instances. Investing in various entrepreneurs isn’t solely an impactful option to create jobs however is a pivotal option to shut the overall wealth hole in underserved communities”, stated Shaylon Scott, govt director of Founders First.

Eligibility for the Grant

To be eligible, for the grants companies are required to:

  • Have a present employees of 2-20 workers
  • Must be a service-based enterprise
  • Act as a for-profit firm with annual revenues between $100,000 and $3 million
  • Based by an entrepreneur who identifies as a minority, LGBTQIA+, navy veteran, a girl or is situated in a low-to-moderate revenue space

The grant cash can be utilized as progress capital to rent or rehire premium wage jobs or be used as a money infusion to buy, repair or improve tools needed to assist companies handle progress challenges and scale for the long run.

companies situated within the Dallas-Ft. Value, Houston, Austin, and San Antonio can apply through the use of this hyperlink.

The grants will vary from $1,500 – $10,000 per firm and embody a assured spot in one in all Founders First’s accelerator packages. The accelerator program gives a full-tuition scholarship to awardees with methods to extend their income and drive worthwhile progress.

The grant quantity shall be disbursed in two installments. Half of the money grant award quantity might be disbursed as much as 60 days after signed phrases and circumstances, W-9, and arrange of fee disbursement system is confirmed. The remaining portion might be disbursed as much as 60 days after the completion of the enterprise’ participation within the eligible accelerator program.

The grant challenge was launched in early 2021. Since its launch, Founders First CDC has awarded greater than $400,000 to minority and underserved enterprise homeowners all through the USA with a deal with Texas, Chicago, Southern California, Philadelphia and New Jersey.

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