Portsmouth Economic Development has launched a Smart Start Business Development Grant to provide financial support for new and recently established startups and small businesses to assist with expanding entrepreneurial opportunity, business resiliency, and organizational capacity building.
Donor Name: Portsmouth Economic Development
State: Virginia
City: Portsmouth
Type of Grant: Grant
Deadline (mm/dd/yyyy): 06/30/2022
Size of the Grant: $2,000
Details:
Funding Information
Maximum grant award: $2,000.
Eligibility Criteria
Eligible applicants:
- New and recently established for-profit small businesses and non-profit organizations with operations based in the City of Portsmouth (Religious establishments are ineligible)
- Years in operation: 0-3 years (as evidenced by a City business license)
- Business size: 10 full-time equivalents (FTE) or fewer positions
- Maximum grant award: $2,000
Additional guidelines:
- Grant funds must be expended within 90 days of award
- Recipients of the Smart Start Business Development Grant may only receive funding one time under the program
- Development Center (SBDC) or provide documentation of completion of an equivalent certification course
Eligible Activities
- Professional and non-professional services to assist in establishing a business. To include legal, financial, accounting, marketing, social media, e-commerce, etc.
- Small scale production/manufacturing business support (equipment, machinery, tools, etc.)
- Technology and digital infrastructure (hardware, software, digital platforms, etc.)
- Furniture and fixtures
Ineligible Activities
- Wages, benefits, payroll expenses
- Rent, debt service
- Operating costs (utilities, insurance, etc.)
- Real estate improvements
- Supplies and inventory
For more information, visit Smart Start Business Development Grant.
