Deadline: 16-Jul-21
The Community Foundation of Greater Birmingham (CFGB) is pleased to announce a call for proposals for the CFGB Small Business Impact Grant Program to help grow and support small businesses in the Greater Birmingham region.
The Small Business Impact Grant will provide capital and targeted technical assistance/advisory services to accelerate the growth of small, underserved businesses, with priority given to Black-owned businesses poised for growth.
Outcomes
- Increase the capacity of CDFIs and similar lenders to meet the needs of underserved, under-resourced small businesses in the Greater Birmingham region by providing more flexible, patient capital and targeted technical assistance and advisory services.
- Increase the financial health and growth of small businesses by deploying these resources.
- Inform and inspire investors by demonstrating the power of catalytic capital to unlock impact and greater investment across diverse businesses.
Grant Components
The Small Business Impact Grant has three components:
- A portion of each grant should provide flexible capital for small, underserved businesses.
- A portion of each grant should be used to enhance or expand the current offering of one-on-one technical assistance and business advisory services that match the needs of the business and will aid in business growth.
- Each awardee will receive grant funds of $10,000 above their primary request to cover operational costs of implementing this program
Funding Information
Applicants may apply for up to $250,000 in grant funding. A $10,000 grant for operational costs is additional and should not be included in the request amount.
Eligibility Criteria
To apply for this grant, organizations must meet the following eligibility requirements:
- Have current tax-exempt status under Section 501(c)(3) of the U.S. Internal Revenue Code
- Have a current presence in and serve businesses based in Blount, Jefferson, St. Clair, Shelby, and/or Walker Counties
- Have a mission to serve low- and moderate-income individuals, businesses, and/or communities
- Have a current or recent portfolio of small businesses that fall within the criteria outlined above in the Eligible Businesses section
- Have three (3) years of audited financial statements
- Be a U.S. Department of the Treasury-certified CDFI or have a minimum two-year track record of lending to small businesses
For more information, visit Community Foundation.
For more information, visit https://www.cfbham.org/grants/