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As small businesses recover from the pandemic, entrepreneurs of color continue to be disproportionately impacted. Luckily, many corporations like Wells Fargo have started funds to address these issues. In fact, a new grant launched this week with this goal in mind. Read about that and other current small business grant opportunities below.
Houston and Wells Fargo Open for Business Grant
The city of Houston and Wells Fargo are launching a new $20 million Open for Business grant. The portal opens for applicants August 9 to support the city’s underserved businesses. Wells Fargo’s contribution is part of its nationwide Open for Business fund, created during the early days of the pandemic. To qualify, businesses and nonprofits must be led by people of color and located in the Houston area with 50 employees or fewer. Eligible businesses and nonprofits can apply for grants between $10,000 and $65,000. The application portal closes August 23.
Marion Business Innovation & Support Grant
Marion, Iowa is unveiling a Business Innovation & Support Grant to help businesses harmed by the COVID-19 pandemic. Funded through Marion’s allocation of American Rescue Plan Act funding, about $450,000 is available to city businesses with ten employees or fewer. Individual grants can range from $5,500 to $15,500 in matching funds. Recipients must also participate in five hours of business counseling. Applications will be available until funds have been allocated.
Fayetteville Small Business Relief Grant Program
Fayetteville, North Carolina recently launched a grant program for struggling small businesses. The Small Business Relief Grant Program kicked off on July 5, with $3 million available. But the city has said that not many businesses have applied so far. To qualify, local businesses must have less than 200 employees. And up to $50,000 is available for each businesses depending on how much reimbursable expenses each business has.
Downtown Gulfport Facade Grants
Downtown Gulfport, Alabama is offering facade grants to businesses in specific districts. The city and its partners just awarded $25,000 in this first round to businesses in the Innovation and Quarters districts. To qualify, businesses must be Gulfport Main Street members in approved districts. The first round of funding has already been awarded. But you can learn more and apply online for future funding rounds.
Oak City Labs
Raleigh, North Carolina and the Carolina Small Business Development Fund host a grant program called Oak City Biz Labs. The first-come, first-served program also connects small businesses to technical assistance programs. The city is hosting an upcoming informational session for interested entrepreneurs that will explain eligibility requirements and the application process.
NYC Small Business Resource Network Grant
New York City is making a $1.5 million investment in the NYC Small Business Resource Network. This grant allows the organization to continue its operations through 2023. This investment doesn’t go directly to the city’s small businesses like other small business grant opportunities. But the SBRN offers support with grant and loan applications for small businesses. So city businesses can visit a local center to find opportunities or gain support during the application process. Other services include marketing assistance, accounting and legal services, and help finding the right digital tools.
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