A total of $100,000 will be awarded to 30 businesses in Pennsylvania and New Jersey.
Donor Name: Founders First Community Development Corporation
State: Pennsylvania and New Jersey
County: All Counties
Type of Grant: Grant
Deadline: 06/13/2022
Size of the Grant: $10,000
Details:
The Job Creators Quest grant is an initiative to launch Founders First Community Development Corporation’s (FFCDC) expansion into new regions by supporting small businesses from diverse backgrounds to scale and impact the ecosystem. The grants are paired with access to one of stellar business accelerator programs.
Grants are a great way to receive growth capital for your small business. With a simple application, you can receive cash and full tuition scholarship to one of their stellar accelerators. Hear first hand from grant recipients and partners.
- Grant money can be used as growth capital to hire or rehire premium wage jobs.
- Cash infusion can be used to purchase, fix or enhance equipment necessary to help you manage growth challenges and scale for the future.
- Founder identify as one of the following: Latinx, Black, Asian, Women, LGBTQIA+, Military Veteran, or located in a Low to Moderate Income area.
- TO QUALIFY: Must be located in the state of Pennsylvania or New Jersey and have a current staff of 2-20 employees. Will have the ability to add 1-2+ net new premium wage jobs in the next 12 months. Your company must be a service-based business and at least one revenue stream serving other businesses. Must be a for-profit company with annual revenues between $100K and $3 million.
Funding Information
A total of $100,000 will be awarded to 30 small businesses: $10,000 grant, $5,000 grant, $2,500 grants, $1,500 grants. In addition, each grant recipient will receive a full tuition scholarship for one of Founders First CDC’s stellar business accelerator programs.
Eligibility Criteria
- Must be located in the designated region
- Must have a current staff of 2-20 employees
- Will have the ability to add 1-2+ net new premium wage jobs in the next 12 months
- Must be a Service Based Business, light manufacturing, B2B or have a service component
- Founder must be Black, Indigenous, Persons of Color ( BIPOC) , LGBTQIA+, Veteran, Women, located in an LMI area
- Have an Annual Revenue of at least $100K and not to exceed $3 million
- Provide a narrative and a 90 second video about the business
- Provide a narrative on how the business was impacted by COVID and what they are doing to sustain their business
- Agree to provide information on intended use of funds if awarded
- Agree to provide financial documentation to verify revenues
- Agree to provide an organizational chart to verify current employees and plans to add 1-2+ net new jobs to your organization in the next 12 months
- Complete all parts of the application process
- Semi-finalists agree to a brief call with ADP to be advised of tax compliance, payroll managent and benefits requirements for small businesses as well as a short virtual Funding Readiness series to help prepare for growth capital
- Agree to participate in one of FFCDC’s accelerator programs as part of the grant award.
For more information, visit Founders First.
