Minority-owned small companies and nonprofits within the Houston space can apply for as much as $100,000 in grant funding later this month.
A complete of $8 million is out there this yr through the second part of the “Open for Enterprise” grant program, which is funded by Wells Fargo and administered by the Houston Fund for Social Justice and Financial Fairness. An internet software portal for grant cash is scheduled to be open from 5 a.m. Could 15 via 11:59 p.m. Could 31, with eligible companies and nonprofits competing to obtain awards starting from $5,000-$100,000 apiece.
To be eligible, companies and nonprofits should have been established earlier than Dec. 31, 2021, and be situated inside Houston metropolis limits. Eligible companies should even be “mission-aligned” and “diverse-owned” with not more than 100 staff and not more than $3 million in gross income throughout 2022, based on the Houston Fund for Social Justice and Financial Fairness, which says eligible nonprofits should be traditionally underserved organizations with not more than 100 staff.
The grants can be utilized for tangible belongings comparable to land purchases and enhancements, constructing development or renovation, purchases of stock, equipment, gear and expertise and enhancements or modernizations of landscaping, parking heaps, streets and utilities, amongst different makes use of.
“We’re dedicated to bridging the financial hole in our metropolis by supporting Houston’s underrepresented and underfunded minority-owned small companies and nonprofit organizations,” Thomas Jones, the board president for the Houston Fund for Social Justice and Financial Fairness, stated in a information launch. “It’s our continued imaginative and prescient and mission to facilitate transformative change in our native communities.”
The Houston Fund for Social Justice and Financial Fairness, also referred to as the Houston Fairness Fund, was established by the Metropolis of Houston in 2021. The Open for Enterprise program is a three-year, $20 million initiative, with a complete of $5 million having been awarded to greater than 200 companies and nonprofits through the first part final yr.
Grant recipients through the first part are usually not eligible for awards through the second part, however they’ll apply for added funding as a part of the third part subsequent yr.
The Houston Fairness Fund says on its web site that the companies and nonprofits it selects for the funding can “show direct, tangible and significant impression” associated to the 4 pillars of the fund, that are neighborhood constructing, financial growth, social and racial justice, and youth empowerment and schooling.
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