With funding support from General Motors, the ‘Scale Up WNY’ Grant will assist the growth of Black-owned and Latino-owned businesses that are under-capitalized, but well positioned for growth.
Donor Name: Local Initiatives Support Corporation (LISC)
State: New York
County: Selected Counties
Type of Grant: Grant
Deadline: 06/16/2023
Size of the Grant: $10,000 to $15,000
Details:
The Local Initiatives Support Corporation (LISC) and General Motors launched an exciting new partnership in 2021 to scale and advance Black-owned business growth in the 8-county Western New York region. Round 3 program eligibility is extended to include Latino-owned businesses.
LISC NY and GM recognize that there are several business industries in Western New York that have a projected demand for their services, yet need capital to scale up to meet that demand.
LISC NY and GM recognize that there are several business industries in Western New York that have a projected demand for their services, yet need capital to scale up to meet that demand. With funding support from General Motors, the ‘Scale Up WNY’ Grant will assist the growth of Black-owned and Latino-owned businesses that are under-capitalized, but well positioned for growth.
This fund is designated to support procurement opportunities in several high-growth industries and/or services:
- Construction
- Childcare Services & Providers
- Energy Infrastructure & Climate Response
- Broadband, Digitization & Web Services
- Medical Suppliers & Telehealth Services
- Manufacturing
- Diversity, Equity & Inclusion consultants
Priority will be given to Black/Latinx(a/o)-owned businesses, followed by minority, women, and veteran-owned businesses, operating more than two years. All awardees will have to certify that they are promoting the best interests of the community. Nonprofit organizations are ineligible for this application.
Funding Information
Funds will support innovative approaches to business growth, boosting competitiveness, and widening business service offerings and/or supplies for 10-15 businesses experiencing underinvestment. Grants range from $10,000 to $15,000.
Initiatives supported by this grant include:
- Projects or initiatives that a) seed a growth initiative for your company, b) strengthen business retention, and/or c) allow for business expansion.
- Increase readiness for contract opportunities associated with the 1) American Rescue Plan Act of 2021; 2) New York State Climate Leadership and Community Protection Act; and/or 3) Infrastructure Investment and Jobs Act; 4) the New York State East Side Initiative; or 5) similar contract opportunities providing a pathway to grow your business.
- Support for broadband expansion, e-commerce, & growth through digitization.
- Funds to a) analyze the feasibility of purchasing an existing company, b) plan for business ownership succession planning, or c) co-operative employee ownership models.
- Technical assistance aimed at growing the business and increasing access to high growth industries.
Examples of how this grant may be used include, but are not limited to are listed below:
- Contractors, vendors and professional service providers may solidify contract opportunities that would not have been available but for these funds and/or pursue joint ventures that allow the business to go after larger contracts.
- Existing businesses may explore processes that lead to new contract opportunities for BIPOC contractors.
- Diversity, Equity and Inclusion consultants are able to pursue contracts with the support of these dollars, allowing them to grow their business income, audience reach, and/or services to meet the demand of organizations and corporations.
Criteria
Though preference will be given to businesses within the Buffalo-Niagara subregion, businesses within the 8-county footprint of Western New York are eligible to apply for this grant opportunity.
For more information, visit Small Business Grant.
