The Charleston Area Alliance has announced the launch of a new round of the Women and Minority-Owned Small Business Grant Program.
Donor Name: Charleston Area Alliance
State: West Virginia
City: Charleston
Type of Grant: Grant
Deadline: 02/17/2023
Size of the Grant: $2,500 to $5,000
Grant Duration: 1 year
Details:
The goal of the Grant Program is to help existing women and/or minority-owned small businesses located within the city limits of Charleston to expand by increasing profitability.
Funding Information
This will be achieved through mini-grants ranging from $2,500 to $5,000, and providing access to training and resources.
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
Grant funds may NOT be used for:
- Payment of delinquent taxes
- Retiring existing debt and liabilities
- Rolling stock
- Staffing
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 Women and Minority-Owned Small Business Grant.