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  • Writer's pictureFelipe Wityk Sanchez

New grant, more than $2.3 million to continue supporting small business owners.

In 2021, American Express and Main Street America created the Backing Small Businesses grant program to help small business owners. NOW, the two funders and designated community partners will select 350 grantees, to be announced in June, to receive up to $5,000, with a focus on candidates that have the potential to improve, revitalize, or expand an existing small business in older and historic downtowns and neighborhood commercial districts nationwide. This fall, 25 grantees will also receive additional enhancement grants of $25,000 to fund innovative revitalization projects such as business expansion, capital improvements, or investment in technology that would further improve their businesses, while providing goods or services that address cultural, environmental, and/or access needs in their local community.

What types of businesses are eligible?

Businesses must meet the following criteria to apply:

· The applicant must be an owner of the business.

· The applicant must be at least age 18 years or older.

· The business must be at least 51% owned, operated, and controlled by small business owners who identify as:

  • Asian American and/or Pacific Islander

  • Black and/or African American

  • Hispanic and/or Latinx

  • Immigrants, Refugees, and/or Forcibly Displaced

  • Members of the LGBTQIA+ Community

  • Middle Eastern and/or North African

  • Native and/or Indigenous

  • People with Disabilities

  • Veterans

  • Women

· The business is in a "brick-and-mortar" location and operate in an older or historic main street, downtown, or commercial district in the United States. (Home-based businesses, even those located in historic neighborhoods, are not eligible. Brick-and-mortar businesses located outside of historic downtowns and commercial corridors, including, but not limited to, office parks and shopping malls are also not eligible.)

· The business is an independent business and not part of a franchise.

· The business must employ less than 20 full-time employees.

· The business has been in operation since January 1, 2022.

· The business must be a business entity in good standing in the state in which it was formed and the state in which it does business.

· The business has an active business license in the state where you do business.

If you would like assistance call us, at WealthSpring Financial Services, we are always ready to help you grow your business.

To Apply make CLICK HERE.

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