As the first year of the Urban Entrepreneur Grant wraps up, a research team will gather data through Asset Walks to identify specific barriers to entrepreneurship in urban neighborhoods. The findings will be used to develop a road map for re-building urban neighborhoods. It will include data on individualized, locational, and systemic barriers that limit the success of local entrepreneurs.
Caleb Brown Venture Capital
The Caleb Brown Venture Capital urban entrepreneur program awards a $1,000 grant to new business ventures in urban communities. In addition to the money, Caleb Brown offers 500 hours of free business consulting a year. This program helps creative entrepreneurs establish small businesses. It also supports local economic development and jobs.
This program is designed to help young urban entrepreneurs create new and sustainable businesses. The organization provides seed money and mentorship for entrepreneurs, and provides up to $150,000 in equity to start their businesses.
Rural Business Enterprise Grants
The Rural Business Urban entrepreneur grant (RBEG) program encourages the development of rural-based emerging and small private businesses. To qualify, businesses must have 50 or fewer employees and projected gross revenues of under $1 million. Eligible uses of the funds include training, technical assistance, rural property acquisition, pollution control and abatement, and rural transportation improvement.
Rural Business Development Grants help rural businesses develop and expand by providing technical assistance and training. To qualify, businesses must have fewer than 50 new employees and gross revenues of less than $1 million per year. Rural cooperatives can also apply for these funds. Applicants must also commit to establishing their businesses in rural communities or outside of the urbanized periphery. Small applications are prioritized over large ones. Additionally, opportunity grants are limited to 10 percent of the overall Rural Business Development Grant budget.
Collaboration Grants
Urban entrepreneur collaboration grants provide support for local entrepreneurs from underrepresented communities. Specifically, these funds support the creation of incubators and accelerators, which provide free or reduced cost office space. The funding also enables local entrepreneurs to grow their companies. The funding provides resources to local entrepreneurs, including free training, office space, and business support.
Entrepreneur support organizations (ESOs) are crucial for the growth of small and urban businesses. They help create an environment for collaboration, together-hood, and competition among entrepreneurs, which is vital for a vibrant black ecosystem.
Micro Grants
Urban entrepreneur micro grants provide financing for small-scale businesses in urban areas. They offer small amounts of up to $1,000 as well as in-kind support to eligible businesses. This type of funding is intended to support urban entrepreneurs in developing their ideas into thriving businesses. In addition to offering funding, Urban Awareness USA also bridges the gap between the local community and nonprofit, faith-based, and government organizations. Its services provide training and networking opportunities, along with a variety of resources.
The NAACP is another organization that awards micro grants to black entrepreneurs. It provides small business owners with resources and trainings, and also offers free marketing assistance. Additionally, the organization awards $10k grants to Black-owned businesses in areas such as alcohol service, sales, and hospitality. In addition, there is the Galaxy of Stars, an online community of minority entrepreneurs that offers free business advice. To apply, applicants must be black or ethnic minority women.
Small Contractor Line of Credit Program
The Urban entrepreneur grant and Small Contractor Line of credit program provide financing to small construction and architectural businesses. In addition, these loans are available to contractors working on projects in certain neighborhoods and corridors. To qualify, a business must have less than 500 employees and be locally owned and operated.
Delaware State University
Delaware State University is the nation’s third-ranked public historically black college and R2 doctoral-granting high-research activity university. The University is recognized for its academic excellence and commitment to providing quality education for all. Among other things, the University is the nation’s top producer of professional pilots of color and is one of the top providers of nurses and social workers in Delaware.
The university has been awarded a $1 million federal grant to develop its Center for Urban entrepreneur grant Revitalization and Entrepreneurship, which will expand the university’s role in economic development in the state. The center will be located at 225 West Division Street, one block from the university’s Dover Campus. Small businesses are the backbone of our economy, providing jobs and creating communities. They also help to spur the ingenuity of every citizen.
ALSO READ: Cobra Wraps Itself Around Child Neck For Two Hours
