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HomeBusiness$100,000 in Grant Cash Obtainable to Underrepresented Enterprise Homeowners in Texas

$100,000 in Grant Cash Obtainable to Underrepresented Enterprise Homeowners in Texas

Founders First CDC has introduced that some $100,000 in grant cash is offered 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 help 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 way of July 25, 2022. With the $100,000, thirty grants will probably be awarded to diverse-led corporations positioned within the north, central east or south Texas areas. The candidates should have a employees of 2-20 staff and the power so as to add 1-2 web new premium wage jobs within the subsequent 12 months. Beforehand $100,000 price of grants have been awarded to companies positioned in Pennsylvania and New Jersey.

“We’re completely satisfied 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 strategy to create jobs however is a pivotal strategy to shut the overall wealth hole in underserved communities”, mentioned Shaylon Scott, government 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 staff
  • Needs to 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+, army veteran, a girl or is positioned in a low-to-moderate earnings 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 gear crucial to assist companies handle progress challenges and scale for the long run.

companies positioned within the Dallas-Ft. Price, Houston, Austin, and San Antonio can apply by utilizing this hyperlink.

The grants will vary from $1,500 – $10,000 per firm and embrace a assured spot in considered one of Founders First’s accelerator packages. The accelerator program affords 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 will probably be disbursed as much as 60 days after signed phrases and situations, W-9, and arrange of fee disbursement system is confirmed. The remaining portion will probably 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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