Through the Spark Program (“Program”), AIME seeks to fuel new business and employment opportunities in the mortgage industry by providing opportunities for entrepreneurs in the wholesale mortgage industry.
Donor Name: Association of Independent Mortgage Experts (AIME)
State: All States
County: All Counties
Type of Grant: Grant
Deadline: 01/15/2023
Size of the Grant: $10,000 to $50,000
Details:
The goal of the business grant is to provide additional resources to better equip new brokers with the tools they need to set up a successful business. Grant applicants must use the grant for cost affiliated with opening a brokerage or growing their businesses. An example of acceptable expenses is included in the Official Rules. The grant also provides additional support from the Association of Independent Mortgage Experts (AIME) and the broker community to help the recipients build sustainable business models for any market environment.
The Spark Program goals are to invite either individuals or organizations (collectively, “Applicants”) worldwide to fuel new business and employment opportunities in the mortgage industry. This first program has an initial focus on underrepresented or disadvantaged populations.
Eligibility Criteria
- The Program is open to:
- Individuals who are at least 18 years of age at the time of application, are legal residents of the United States where such Programs are allowed by the laws of those states.
- Small businesses applying must be composed of eligible individuals where the business meets the eligibility requirements for individual Applicants.
- Applicants must own or have access at their own expense to a computer, an internet connection, and any other electronic devices, documentation, software or other items an Applicant may deem necessary to create and enter their Application.
- Where an applicant is a small business, the organization shall appoint one individual as the point person (the “Representative”) to represent and act, including registering and entering an Application, on behalf of said small business. The Representative must be duly authorized to submit on behalf of the organization. The Representative represents and warrants that he or she is duly authorized to act on behalf of the organization, and has read the Official Rules, terms and conditions, FAQs and other pertinent information and that the organization agrees to abide by these Official Rules. The Representative will ensure that each member of the organization participating in entering the Application, or in decisions related to the Application, has read and complies with the Official Rules.
- If chosen as a Participant, each participant must comply with the terms and conditions of the Program and any future requirements as required by the Program, including but not limited to executing the necessary documentation for completing the program. Any remote attendance costs associated with participating in the Program, appearing electronically and virtually are at the sole expense of the Applicants and no equipment, media, communication, travel or lodging costs will be reimbursed.
- Applicants who identify as a member of a disadvantaged group or is a military veteran or spouse of a service member. “Disadvantaged” is defined as a member of a group of persons the Administrator and their representatives deem as disadvantaged through their application and the associated submissions including but not limited to the business plan and financial projections. The Program may presume certain groups are disadvantaged, including women, Black Americans, Hispanic Americans, Native Americans, Asian-Pacific Americans, Subcontinent Asian-Pacific Americans, or other minorities found to be disadvantaged. Persons who are not members of one of the above groups and own and control their business may also apply and be eligible if they establish their “social” and “economic” disadvantage through their application. The Program considers for example, that people with disabilities have disproportionately low incomes and high rates of unemployment, and that many may be socially and economically disadvantaged. A determination of whether an individual with a disability meets disadvantage eligibility criteria is made on a case-by-case basis based on their application.
For more information, visit Spark Grant.
