Many Fundamental Avenue companies have closed lately, leaving vacant storefronts in communities all through the U.S. Now, some communities are launching small enterprise grant packages to encourage extra companies to fill these areas. One such program launched this week, together with much more alternatives for small companies nationwide.
Washington, D.C. Downtown Restoration Grants
Washington, D.C., is presently providing grants for companies that open new storefronts or broaden their companies utilizing vacated downtown properties. The Downtown Restoration Grants program consists of $3 million in whole funds, which eligible companies can use to cowl building, hire, and utilities. The town expects to award grants of between $200,000 and $3,000,000 to as much as 5 companies. To qualify for grants, companies should lease an area within the Downtown Enterprise Enchancment District or the Golden Triangle Enterprise Enchancment District that has been vacant for a minimum of six months.
Nebraska Small Enterprise Help Act Program
Nebraska is dedicating $4.2 million in funds to its new Small Enterprise Help Act Program. The Nebraska Division of Financial Growth and Grown Nebraska Basis will administer this system, which affords grants of as much as $25,000 for brand new companies and as much as $12,500 for present companies that opened throughout the previous 5 years. Companies can use grant funds for varied functions, together with startup prices, working capital, franchise charges, gear, or renovations. To qualify, companies will need to have not more than 5 full-time staff. Purposes are being accepted now. And awards shall be given on a rolling foundation till funds have been exhausted.
Birmingham Penny Basis Grants
Birmingham, Alabama, is partnering with the Penny Basis to help small companies positioned in sure neighborhoods of town. This system consists of $125,000 in whole funds, with grants of between $1,000 and $2,500 obtainable to eligible companies. Companies can use grant funds to cowl varied bills like mortgage, hire, or constructing enhancements. The appliance interval is open from February 1 by means of 15. The winners shall be introduced on February 29.
Nantucket Rock Stable Grant Program
The Nantucket Island Chamber of Commerce is presently operating the sixth spherical of its Rock Stable Grant program. Funded partially by ReMain Ventures, the chamber initially launched this system in 2020 to help native companies through the pandemic. This system has since expanded, awarding 87 grants price over $433,000 over six grant cycles. This funding spherical goals to help a brand new group of companies that wish to broaden or discover new alternatives. February 29 is the deadline to use.
Alabama is providing as much as $250,000 in funding to eligible companies by means of its Innovate Alabama program. Innovate Alabama began in 2020, so that is the fourth spherical of this system. So far, Innovate Alabama has awarded $10 million to small companies all through the state. The grant program is open to companies that obtained federal funding by means of the Small Enterprise Innovation Analysis Grant (SBIR) or a Small Enterprise Expertise Switch Grant (STTR) program. Companies that obtained these grants can apply for supplemental grants now by means of February 16.
Magic Metropolis Match
Rev Birmingham, an financial growth nonprofit in Birmingham, Alabama, is accepting purposes for its Magic Metropolis Match grant initiative. This system helps Black entrepreneurs trying to take their companies to the subsequent degree. Along with grant funds, this system affords sources to contributors like free enterprise teaching, actual property help, and monetary schooling. The group is accepting purposes for this system by means of the tip of February.
Picture: Envato Parts
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