Portsmouth Economic Development is inviting applicants for its Smart Start Business Acceleration Grant to provide financial support to established small businesses to advance and accelerate the growth and expansion of Portsmouth’s entrepreneurial and small business community.
Donor Name: Portsmouth Economic Development
State: Virginia
City: Portsmouth
Type of Grant: Grant
Deadline (mm/dd/yyyy): 06/30/2022
Size of the Grant: $5,000
Details:
Funding Information
The maximum grant amount available for any approved application is $5,000.
Eligibility Criteria
Eligible applicants:
- Established for-profit small businesses and non-profit organizations with operations based in the City of Portsmouth (Religious establishments are ineligible)
- Years in operation: 3-7 years (as evidenced by a City business license)
- Business size: 10 full-time equivalents (FTE) or fewer positions
- Matching requirement: All applications require a 5:1 (20%) financial match
- Grants will be awarded as reimbursements based upon certifiable business expenses (e.g. paid receipts/invoices)
- Applicants are required to submit a marketing and/or business development plan documenting the need for funding and how grant funds are to be utilized.
Eligible Activities
- Professional and non-professional services to assist in expanding 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
For more information, visit Smart Start Business Acceleration Grant.