The Grant Program for Women and Minority-Owned Small Businesses is designed to help existing women and/or minority owned small businesses located within the city limits of Charleston to expand by increasing profitability.
Donor Name: Charleston Area Alliance
State: West Virginia
City: Charleston
Type of Grant: Grant
Deadline: 02/22/2024
Size of the Grant: $1000 to $10,000
Grant Duration: Grant Duration Not Mentioned
Details:
This will be achieved through mini-grants ranging from $2,500 to $5,000, and providing access to training and resources. Funding is provided by an American Rescue Plan Act grant from the City of Charleston, WV.
The Grant Program is managed by the Charleston Area Alliance with the valuable input from an Advisory Council comprised of representatives from various community and economic development organizations, Charleston Area Alliance, and successful women and minority small business owners.
Eligible Use of Funds
The grants can be used for projects that can show a return on the investment that is double the size of the grant. Grant funds may be used for expansion, such as:
- Additional equipment
- Additional inventory
- Additional permanent working capital needed to support growth
Grant funds may be used to increase profitability, such as:
- Investments that increase sales, and/or
- Investments that decrease expenses.
Eligible Applicants
Must meet all criteria:
- At least 51% of the for profit business owned by a woman or person of color: and
- Small business with annual gross revenues under $500,000; and
- Small business is located within city limits of Charleston, WV; and
- Small business operates out of commercial space located in the City of Charleston; and
- Been in existence for a minimum of one year.
For more information, visit Charleston Area Alliance.
