Grant applications close September 13, 2024, 2024 by 8 P.M ET.

This season will mark the program’s largest grant cohort to date, with $1,500,000 in financial grants to 150 current small company owners and $1,500,000 in goods and services to 3,000 aspiring entrepreneurs in need of startup assistance provided by LegalZoom.

Despite the resilience of small businesses in the face of inflation, bank failures, and general volatility, initiatives like Fast Break for Small Business will offer extra financial and educational support that stimulates the local economy and creates jobs.

NBA Champion and two-time MVP Giannis Antetokounmpo has teamed up with LegalZoom to support Fast Break for Small Business and give back to the small business community following the announcement of his own small business, Improbable Media. The company plans to debut a new TV ad featuring Giannis and two-time WNBA champion Kelsey Plum in March. The ad is set to run throughout the NBA and WNBA seasons

Antetokounmpo asserts, “I didn’t have the financial background or support that’s important when you’re building a business early in my own journey.” He added, “I want to make the kinds of business opportunities and knowledge available to others who are just starting so they can succeed.”

Fast Break for Small Business has given $1,500,000 to 150 small business owners since its inception in 2021 and provided approximately 4,000 small business owners free access to LegalZoom services. Entrepreneurs from 48 states, including the District of Columbia, have benefited from the program. Of the grantees, 92% are people of color, 60% are female-owned, and 72% operate in NBA, WNBA, or G League markets.

The Innovate Together Grant Program will provide a combined $50,000 in funds to 12 small businesses, with grants ranging from a minimum of $2,500 to a maximum of $10,000. The grants are intended to help Black entrepreneurs collaborate with content creators or experts for the purposes of marketing or strategy. Applications must be submitted to blackgirlventures.org by the February 29 deadline. Small business owners must have a TikTok account to be eligible and must report on their collaboration within three months of receiving their grant. Recipients will also be required to attend a business development seminar in March.

The Innovate Together Grant marks the latest in a series of partnerships between TikTok and initiatives targeting underserved communities. In May 2023, the platform gave $1 million to Black Girl Ventures for the purpose of awarding grants, funding educational courses, and helping Black entrepreneurs leverage social media to market their brands and products. That month also saw a donation of $1 million delivered to #CreciendoconTikTok, a Hispanic-focused non-profit, for the purposes of supplying funds to entrepreneurs from diverse backgrounds and building a network of business owners.

All three programs mentioned above require applicants to integrate TikTok, in some form, into their marketing strategy, whether by attending classes or working with creators on the platform. Recently, the social media company launched an in-app shopping feature that allows users to purchase directly from a brand’s profile.

The Empower to Grow program will continue to deliver its original services but with changes that allow for more accessibility and efficiency. The SBA is also offering new features and upgrades as part of the initiative. These include:

1. Personalized, one-on-one training sessions to educate business owners on the government contract bidding process.

2. A new and improved version of the Federal Market Acceleration Program, a three-month, in-depth course on government contracting taught by experts.

3. A “master class” establishing techniques and providing resources to help businesses compete for government contracts.

4. Networking events with federal agencies and frequent government contractors.

5. A bidding platform that will allow businesses to view and compete for state and federal contracts.

6. Multilingual educators to provide assistance to business owners from all backgrounds and regions.

In Fiscal Year 2023, small businesses participating in the SBA’s Empower to Grow program submitted 3,700 bids for federal contracts. Roughly 60% of those bids were successful, with a final tally of 2,200 awarded contracts. Over 6,000 small businesses took part in the initiative, and firms receiving training reported an average increase of 45% in their annual revenue growth.

With these improvements, the SBA is hoping to improve outreach to diverse and underserved communities. In a press release announcing the revitalized Empower to Grow program, the administration noted that federal contracting money awarded to minority groups rose by billions of dollars between 2021 and 2022. However, the agency realizes that more effort is needed to improve equity in the government bidding system. “We have made significant progress with a rise in contracting dollars to small disadvantaged businesses,” remarked SBA administration Isabel Casillas Guzman, “but there is more work to do to reverse the longstanding disparities, and the SBA’s Empower to Grow will be a critical resource supporting that work.”

As part of the program, 30 small businesses meeting specific criteria receive $10,000 each, giving them vital funding to grow their brands, better serve their customers, and offer even more support to their local communities. Over the last seven years, Citizens says it has awarded a total of $1.2 million to 112 recipients.

The award predominantly focuses on entrepreneurs from underserved communities, reflecting the improving diversity of the small business community itself. In the past, the contest has typically reserved 10 spots for minority-owned companies and an additional 10 for women-owned companies. For the first time this year, Citizens has also reserved another five spots exclusively for veteran-owned businesses.

Award submissions are open now until February 1, 2024, at 5 p.m. ET at www.businesschampion2024.com. Applications must include answers to two questions:

1. How would you use the Citizens Small Business Community Champion Award to strengthen and sustain your business? (100-word maximum)

2. How would you use the Citizens Small Business Community Champion Award to support your community’s growth and their evolving needs and behaviors? (150-word maximum)

Applicants must also meet the following eligibility requirements to qualify for an award:

1. They must be at least 18 years old.

2. Their business must make no more than $3 million in annual revenue.

3. Their business must be at least two years old.

4. Their business must have at least five employees (full or part-time) or contractors on payroll for the majority (51%) of the year.

5. Their business must have an account with Citizens Bank or be based in Citizens’ footprint in the following states: CT, DC, DE, FL, MA, MD, MI, NH, NJ, NY, OH, PA, RI, VA, and VT.

Read on to find out more about these exciting grant programs and how to apply for them.

1. New York Forward Loan Fund 2 program

The New York Forward Loan Fund 2 is part of the State Small Business Credit Initiative efforts led by Empire State Development. It focuses on helping small businesses and non-profits, especially those in low-income and underbanked communities, access flexible working capital.

Throughout the life of the loan, businesses can benefit from free advisory services provided by New York’s Entrepreneurship Assistance Centers (EACs) and Small Business Development Centers (SBDCs). Even if you don’t qualify for a loan, these advisors can help you develop a business plan and improve your overall financial position.

The program is managed by Calvert Impact and administered by the Community Reinvestment Fund in collaboration with private sector institutions like Citi Foundation and Wells Fargo.

If you’re a small business owner in New York looking for funding to grow and strengthen your business, the New York Forward Loan Fund 2 might be just what you need. Don’t miss this opportunity to secure financial support for your business’s success!

Eligibility:

To be eligible for this loan program, your business or non-profit must meet the following criteria:

• Been in business for at least 1 year prior to application
• Have existing operations in New York State
• Have less than 100 full-time employees
• Generated less than $5 million in gross annual revenue
• Demonstrated ability to repay the loan through previous and projected cash flow.

How to Apply:

If your business meets the eligibility requirements, you can pre-apply for the loan at NYLoanFund.com.

2. Cook County Small Business Source

Cook County President Toni Preckwinkle and the Cook County Bureau of Economic Development have announced an exciting initiative to support small businesses in the area. The 2023 Source Grant, launched through the Cook County Small Business Source, aims to provide $40 million in grants to thousands of small businesses across the County in early 2024.  The aim is to stabilize operations, foster recovery and resiliency, and promote equity in a post-pandemic economy. These funds have been made available through the American Rescue Plan Act.

Eligibility:

• Businesses in operation Cook County to 2020
• Have fewer than 20 full-time employees
• All sectors are eligible to apply, however priority will be given to businesses located in suburban Cook County and those in sectors hardest hit by COVID-19, including Arts & Entertainment, Childcare & Social Assistance, Hospitality, Food & Tourism, Retail Trade, and Transportation & Warehousing.
• Businesses that have applied for or received other types of federal, state, county, or city grants can also apply
• Previous applicants for the 2022 Cook County Grow Grant need to submit a new application for The 2023 Source Grant

Grant Award Levels:

The 2023 Source Grant offers two grant award levels based on 2019 gross revenue:

• Businesses with revenue between $20,000 – $50,000 are eligible for $10,000 grants
• Businesses with revenue of more than $50,000 are eligible for $20,000 grants

Tips for a Successful Application:

• Ensure all documents are ready ahead of time.
• Complete applications with all required documentation will be reviewed.
• Be aware that once you start the application, you cannot return to edit or attach documents.

How to Apply:

The application window is open from Thursday, July 20, to Friday, August 18, at 11:59 p.m. Applicants can apply through the Cook County Small Business Source website. Live webinars will be held during this period to assist applicants in the process.

3. Orange County Small Business Boost

Orange County government has launched an exciting new program, Orange County Small Business BOOST, aimed at providing grants to small businesses, home-based businesses, and gig workers. The BOOST grants offer substantial support, with values of up to $10,000 for small businesses, $3,000 for home-based businesses, and $1,400 for gig workers.

These cash grants are a lifeline for the small business community, which has been severely impacted by the COVID-19 pandemic. If you’re eligible, don’t miss this opportunity to receive the financial assistance your business needs. Program guidelines and application details are available online, and the application process will go live on Tuesday, July 18th. Grants will be awarded on a first-come, first-served basis until funds are depleted.

Eligibility:

To be eligible for the Orange County BOOST grants, your business or gig work must meet the following criteria:

• Small businesses and home-based businesses that experienced a 25% decline in revenue during the pandemic
• Gig workers who were impacted by COVID-19
• Funds do not have to be repaid

How to Apply:

If you need help with your application, Orange County is offering educational events to guide you through the process.

In-Person Event Detail: Thursday, August 3, 2023 – 6:30 pm – 7:30 pm
National Entrepreneur Center
(inside the Orlando Fashion Square Mall)
3201 East Colonial Drive
Orlando, FL   32803

Click here for more information on the event:

Conclusion

These grant programs present valuable opportunities for small businesses, entrepreneurs, and women and minority-owned brands to receive much-needed financial support and resources. Whether you’re based in New York, Cook County, or Orange County, these initiatives are designed to foster recovery, resilience, and equity in the wake of the COVID-19 pandemic. By taking advantage of these grants, small businesses can access the necessary capital and guidance to not only stabilize their operations but also to flourish and expand.

These initiatives aim to address the barriers faced by underrepresented groups and promote a more equitable entrepreneurial landscape. They range from grants exclusively for Black women and nonbinary entrepreneurs to programs supporting businesses affected by the pandemic. These opportunities provide financial support, resources, and guidance to foster business growth and success.

By familiarizing yourself with the eligibility criteria and application processes, you can maximize your chances of securing funding and advancing your ventures.

1. SoGal Black Founder Startup Grant

Black women and nonbinary entrepreneurs face significant barriers in accessing capital, hindering their ability to scale their businesses and create intergenerational wealth. To address this inequality, SoGal Foundation, in partnership with Winky Lux, bluemercury, twelveNYC, Twilio, Walmart.org’s Center for Racial Equity, and other sponsors, is offering cash grants of $10,000 and $5,000, along with valuable support, to empower Black women and nonbinary entrepreneurs. This initiative aims to foster a more equitable entrepreneurial landscape and dismantle systemic discrimination.

Eligibility Criteria:

To qualify for the SoGal Black Founder Startup Grant, applicants should meet the following criteria:

1. Self-identify as a Black woman or Black nonbinary entrepreneur, inclusive of multiracial individuals in these categories.
2. Have a legally registered business.
3. Intend to seek investor financing to scale their business, either currently or in the future.
4. Possess a scalable, high-impact solution or idea with the ambition to build a billion-dollar business.

How to Apply:

The application process for the SoGal Black Founder Startup Grant is as follows:

1. Click here to access the application form.
2. Complete the application by providing the required information.
3. Submit the application. 

2. ARPA funds to small businesses

Reading’s City Council is taking steps to allocate $2 million in American Rescue Plan Act (ARPA) funds to support small businesses in the area. Mayor Eddie Moran presented his plan during the strategic planning committee meeting, outlining how the funds will be disbursed to help revitalize the city and provide opportunities for businesses affected by the pandemic.

Eligibility Requirements:

To be eligible for the ARPA funds, small businesses must meet the following criteria:

1. Established before March 3, 2020.
2. Demonstrated a decrease in revenue directly related to the COVID-19 pandemic.
3. Employ 25 or fewer individuals.
4. Hold the necessary licenses to operate in the state and the city.
5. Conduct business that is not restricted to patrons over the age of 18.

How to Apply:

To apply for the ARPA funds in Reading, PA, follow these steps:

1. Wait for the proposed ordinance to be drafted and adopted by the City Council.
2. Prepare a business plan outlining how you intend to utilize the funding.
3. Ensure your business meets the eligibility criteria
4. Keep an eye out for updates and announcements regarding the application process.
5. Submit your application once the official application process begins, following the instructions provided.
6. Await the decision and funding allocation from the City Council.

3. Comcast RISE

Comcast RISE is a program dedicated to supporting the growth and success of small businesses, empowering them to uplift their local communities. With a focus on economic growth, Comcast RISE offers a comprehensive grant package to selected recipients, including business consultation services, educational resources, monetary grants, creative production, media schedules, and technology makeovers.

 Eligibility Criteria:

Comcast RISE targets small business with the following features:

• Small businesses in Baltimore, Detroit (Macomb County, Oakland County, Wayne County, Washtenaw County), Memphis (Shelby County), Philadelphia (Philadelphia County), and Portland, OR (Multnomah County) are eligible to apply.
• The program aims to assist businesses hardest hit by COVID-19, supporting recovery and long-term success.
• Comcast RISE places a strong emphasis on diversity, inclusion, and community investment.

How to Apply:

To apply for a Comcast RISE small business grant, follow these steps:

1. Complete the Eligibility Criteria Form (Approx. 5 minutes): Fill out the form to determine if you meet the eligibility requirements. Remember, you can’t make changes once submitted.
2. Proceed to the Application (Approx. 45-60 minutes): If you’re eligible, start the application in the same form. You can save your progress and submit later if needed.
3. Account Creation: If you don’t have an account yet, click “Sign In” at the top right corner to register. You’ll receive a confirmation email.
4. Application Submission: For existing account holders, scroll down and select “Comcast RISE Application” to continue filling out the application.
5. Review and Acceptance: Before submitting, carefully read the Official Program Rules and Privacy Policy. You’ll need to accept them during the application process.

4. Beyond Open Round 2

Beyond Open grants offer a valuable opportunity for diverse small business owners to access capital without incurring debt. The program is dedicated to promoting economic mobility and supporting entrepreneurs from minority, women, veteran, LGBTQ+, and disabled communities. 

Through the provision of grants, Beyond Open empowers small business owners to invest in capital assets and foster business growth. To increase your chances of success, it is crucial to familiarize yourself with the program guidelines before applying, ensuring eligibility and maximizing your chances of success.

Eligibility Requirement:

To be eligible for Round 2 of Beyond Open grants, your business must meet the following criteria:

1. Ownership: Your business should have at least 51% ownership by individuals from diverse backgrounds, such as minority, woman, veteran, LGBTQ+, or persons with disabilities.
2. Location: Your business must be located within one of the six Corridors of Opportunity in Charlotte.
3. Operational Duration: Your business must have been operating for at least one year before August 1, 2022.
4. Business Type: Only for-profit organizations are eligible. Nonprofit 501(c)(3)s are not eligible.
5. Annual Revenue: Your business should have an annual revenue between $30,000 and $5 million.
6. Workforce Size: Your business should have fewer than 200 full and/or part-time employees.
7. Franchise Ownership: If your business is a franchise, it must be locally owned and independent.

How to Apply:

To apply for the Beyond Open Grant, follow these steps:

1. Go to the official Beyond Open Grant website to access the application form.
2. Review the eligibility criteria: Before applying, make sure you meet all the eligibility criteria mentioned on the website.
3. Gather required documents: Prepare the necessary documents, such as business registration information, financial statements, and proof of location.
4. Complete the application form: Fill out the application form with accurate and up-to-date information about your business.
5. Provide supporting documents: Upload the required supporting documents as specified in the application form.
6. Submit your application: Once you have filled out the form and uploaded all the necessary documents, submit your application through the website.
7. Application review: Your application will be reviewed by the Beyond Open Grant committee. Be patient during the evaluation process.
8. Notification of decision: If your application is successful, you will be notified about the grant award and the next steps.

5. FedEX E-Commerce Learning Lab

Looking to enhance your business e-commerce? Whether you’re a beginner or want to optimize your existing online sales, FedEx and the Action Opportunity Fund (AOF) are here to assist you.

The FedEx E-Commerce Learning Lab is a comprehensive program designed to support diverse small business owners, especially women and entrepreneurs of color, in developing or expanding their e-commerce operations in response to the post-COVID-19 landscape.

Eligibility Requirements:

To qualify for the FedEx E-Commerce Learning Lab program, your small business must:

• Own at least 51% of a US-based small business in an eligible industry (check prohibited industries)
• Have operated the business formally for at least six months since January 2023
• Currently produce and sell a shelf-stable, legal, packaged product
• Earned less than $500,000 in business revenue in 2022

How to Apply:

To apply for the FedEx and AOF grant, follow these steps:

1. Visit the AOF application partner Submittable.com and create a free account.
2. Complete the online application before the deadline of June 30th, 2023, at 5:00 PM EST.
3. Ensure you meet all eligibility criteria and provide requested documents, including photo identification, business tax return or license/registration, and bank statement.
4. Await notification of your selection status in mid-July 2023.

Remember, the beginners’ cohort program includes a hands-on learning experience, a $5,000 business grant, and the opportunity to sell your products on the SOKONI Shop. Meanwhile, virtual seminars and online courses are available to all small business owners interested in advancing their e-commerce skills.

For more details, FAQs, and access to online resources, visit the FedEx E-Commerce Learning Lab website.