The Houston Equity Fund will distribute the third and final round of funding (about $3 million) in the form of grants to small businesses.
Donor Name: Houston Fund for Social Justice and Economic Equity
State: Texas
County: Brazoria County (TX), Chambers County (TX), Fort Bend County (TX), Galveston County (TX), Harris County (TX), Liberty County (TX), Montgomery County (TX), Waller County (TX)
Type of Grant: Grant
Deadline: 03/26/2024
Size of the Grant: $10,000 to $100,000
Grant Duration: Less than 1 Year
Details:
The purpose of the Open for Business Grant Program (Grant Program) is to advance the mission of the Houston Equity Fund to enact transformational change by investing resources into organizations and initiatives that empower and uplift communities of color.
This opportunity supports mission-aligned diverse-owned small businesses and nonprofits within the City of Houston that positively impact vulnerable communities. Grant funds must be used to acquire or upgrade tangible assets. The Grant Program is intentionally inclusive of small businesses, at various stages of maturity, that demonstrate a need for a grant to support their start-up, stabilization, or growth.
Houston Equity Fund’s Pillars for Transformational Change
- Social and Racial Justice
- Social Services, Criminal Justice, Healthcare, Civic Engagement, Immigrant Rights, Environmental Justice, Domestic Violence/Human Trafficking.
- Economic Development
- Support future talent, startups, business owners, and workforce development activities that aim to address income and wealth disparities.
- Youth Empowerment & Education
- Provide education, literacy, innovation, mentorship, advancement, scholarship and career opportunities.
- Community Building
- Secure access to vital resources, revitalize community spaces, celebrate Black history and culture.
Grant Priorities
- Advance the charitable mission and four pillars of the Houston Equity Fund.
- Support mission-aligned, diverse-led nonprofits that are historically underserved, including grassroots and community-led organizations.
- Special consideration for organizations with limited access to philanthropic capital.
Funding Information
In Round 3, the Houston Equity Fund has allocated $500,000 to award approximately six or fewer grants ranging from $75,000 – $100,000 to high scoring applicants that qualify.
Grant Period
The grant period is 30 days. All funds must be spent within 30 days of the date awarded. Applicants must request assets that can realistically be purchased within a 30- day period.
Uses of funds
All grants must be used to acquire or upgrade eligible tangible assets, defined as:
- Purchase of or improvements to land
- Construction of new buildings or facilities
- Renovations of existing buildings or facilities
- New or upgraded machinery or equipment
- New or updated technology
- Purchase of inventory
- Improvements or modernization of streets, utilities, parking lots, landscaping.
Eligibility Criteria
Applicants must meet ALL the following criteria to be eligible to apply:
- Business established and registered with State of Texas prior to December 31, 2022
- Business location is within the 8-county region of Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery, or Waller counties.
- The tangible asset must be invested in and impacting a vulnerable community
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- Mobile, Online, and Home Businesses should refer to FAQs for further details clarifying geographic eligibility
- Have 1- 100 employees, including the owner, full-time, and part-time employees and 1099 contractors engaged in supporting your business
- 2022 and 2023 Annual Gross Revenue of $3,000,000 or less
- Business type is a sole proprietorship, limited liability company (LLC), corporation, or partnership
- Business owners must be 18 years of age and reside in Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery, or Waller counties, as their primary home address.
For more information, visit HFSJEE.
