If you are an LGBTQ+ small business owner who is looking to sustain and grow your business, the Equity Fund may be perfect for you! PFund Foundation is seeking LGBTQ+ entrepreneurs who have owned and operated a business for a year or more and are seeking to grow through grant funding and business education sessions.
Donor Name: PFund Foundation
State: Iowa, Minnesota, North Dakota, South Dakota, Wisconsin
County: All Counties
Type of Grant: Grant
Deadline: (mm/dd/yyyy) 07/22/2024
Size of the Grant: $10,000 to $100,000
Grant Duration: Grant Duration Not Mentioned
Details:
This program invests in queer entrepreneurs and small businesses from across the Upper Midwest, with a particular focus on queer entrepreneurs of color and queer-owned businesses in rural areas. PFund and Quorum are offering more than $400,000 in grant fundings across three distinct cohorts this year. Each grant recipient receives:
- Grants ranging from $5,000 up to $30,000 to be used to support building small business capacity and developing queer entrepreneurship across the region.
- Access to five training sessions customized to the needs of small business owners. Training for grantees from greater Minnesota, North Dakota, South Dakota, Iowa, and Wisconsin will meet virtually.
- A one-year membership to Quorum, Minnesota’s LGBT chamber of commerce. Grantees from outside Minnesota will be given modest stipends to purchase an annual membership from a local queer chamber of commerce (for example, the Wisconsin LGBT Chamber of Commerce).
Eligibility Requirements
Eligibility Guidelines Grantseekers must meet all of the following criteria to apply:
- You identify as LGBTQ+
- If your business is located in North Dakota, South Dakota, Iowa or Wisconsin you must also identify as Black, Indigenous, or a Person of Color.
- Your business has been in operation for at least one year.
- The annual gross revenue of your business for your most recently completed fiscal year was $250,000 or less.
- Your business has 20 or fewer employees.
Grantee Obligations If awarded a grant, you must agree to the following conditions:
- You agree to only use grant funds for the business purposes outlined in your proposal. Personal uses of funds are not allowed.
- You agree to provide PFund Foundation with the paperwork necessary to process grant payments (signed grant agreement, IRS W9 form, and your business’s logo).
- You agree to complete an online survey and produce a report on how you used grant funds at the conclusion of the grant period (due in spring 2025).
- You agree to attend 80% of the cohort meetings over the course of the program. You will be assigned to a cohort based on your location and the demographic information in the application. Meeting dates will differ by cohort:
- Twin Cities Queer Entrepreneurs of Color cohort will meet on the second Tuesday of the month from 5:30-8:00 pm in person, at the Quorum offices in St. Paul. Meeting dates are: October 8, November 12, January 14, February 11, March 11
- Midwestern Queer Entrepreneurs of Color cohort and the Minnesotan Queer Entrepreneurs cohort will meet on the second Wednesday of the month from 6:00-8:30 virtually. Meeting dates are: October 9, November 13, January 15, February 12, March 12.
For more information, visit PFund Foundation.
