The Carolinas Foundation announced Wednesday that they are launching a new grant program for small business owners in the Charlotte area.
The new $20 million grant program, named “The Beyond Grant,” will be funded by Wells Fargo. The new grant will help hundreds of small business owners in Charlotte from 2022 to 2024. Foundation for the Carolinas Special Advisor for Civic Initiatives Tracy Roos recognizes the weight of the program.
“This program is important for a variety of small business owners, because many owners are diverse, including minority, female-owned, veteran-owned, LGBTQ, and face challenges in accessing capital,” he said.
One of the problems that many people face when starting a business is that they need a large amount of capital to get started. With the rising cost of things for business owners, this gift can be useful for those starting or looking to improve their business.
“It allows them to buy equipment, technology, inventory and space like real estate where their business can grow and grow.” “So this program is focused on those diverse small business owners as a way to get access. To build capital, build economy and build wealth. We’re very grateful to Wells Fargo for their support in making this possible,” Russ said.
The primary targets of the program are local businesses in six “Corridors of Opportunity” identified by the City of Charlotte by 2020. While the grants are targeted at the west side of Charlotte, Russ said the program will not. Only limited to that area.
“We’re focusing on businesses in the ‘Corridors of Opportunity’ as a priority, but we also make grants to businesses across the county and encourage a variety of small business owners to apply, no matter where they are.”
Applications after the Open Open Open program are open from Wednesday 28 September and will be open until 5pm on Friday 28 October.
