On the heels of layered crises and big challenges for small business in the New York region, JPMorgan Chase, M&T Bank, Principal Foundation, Santander Bank, and Surdna Foundation have come together to launch the NY Small Business Funders Collective (SBFC).
Donor Name: JPMorgan Chase
State: New York
Counties: Bronx County (NY), Kings County (NY), Richmond County (NY), New York County (NY), Queens County (NY)
Type of Grant: Grant
Grant Size: up to $100k
Grant Duration: 1 year
The NY Small Business Funders Collective (SBFC) is a group of philanthropic entities coming together to strengthen the local small business ecosystem across the New York region.
The NY Small Business Funders Collective (SBFC) Collective aims to spark innovation in delivery of capital and technical assistance by providing one-year planning grants for small business intermediaries to design or advance collaborations that serve and resource entrepreneurs of color who are poised for growth. Through prioritizing partnership, the Collective seeks to reveal and resource needs within the small business ecosystem via grassroots and highly-localized connections. The Collective seeks to fund one project per borough but remains open to multiple awards within a borough and/or organizations spanning multiple boroughs. A 501c3 lead-applicant will coordinate the effort by incorporating meaningful voices and contributions from co-applicants. Lead applicants will be responsible for grant submission and reporting. In all cases, the ultimate beneficiary will be Black, Latinx, Indigenous, and API entrepreneurs in the region – and therefore everyone who lives, works, and calls New York home.
The NY Small Business Funders Collective recognizes that COVID relief and other stimulus programs unleashed many new sources of capital for our targeted group of business owners during the last 2+ years, but many of them were hard to access and reinforced systemic biases. In contrast, the SBFC seeks to lower barriers made evident by those efforts, rectify biases and prohibitions that made them ineffective or burdensome, and complement ongoing programs and initiatives where gaps exist or additional supports would be helpful.
- Terms: One-Year Planning Grants
- Size of Awards: up to $100k
Individual business support entities, or groups of two or more business support entities, which can include for-profit, non-profit, academic, government, or other types, with a 501c3 organization as lead applicant.
- Examples of collaborators can include: CDFIs, chambers of commerce, CDCs, social service agencies, academic institutions, hospitals, transit authorities, etc. Be creative.
- Preference given to support organizations led by and serving people of color; the majority of small business owners served through your project must be Black, Latinx, API and Indigenous entrepreneurs.
- All industries and business sectors within the small business ecosystem are welcome to apply.
To be eligible for a grant award, an applicant must be:
- A nonprofit organization with evidence that it (a) has been recognized by the Internal Revenue Service as an organization described in Section 501(c)(3) of the Code; (b) is fiscally sponsored by a Section 501(c)(3) organization; (c) or is a governmental unit within the meaning of Section 170(c)(1) of the Code;
- Located within and/or primarily serving residents of Bronx, Kings, Richmond, New York, Queens counties.
For more information, visit JPMorgan Chase.