Center for Economic Inclusion Vanguard Accelerator

Purpose

• To support revenue generating businesses with 2-20 employees  led by diverse founders. they encourage premium wage job growth and award businesses that have been able to retain and grow despite the pandemic. The Job Creators Quest grant is an initiative to launch Founders First Community Development Corporation’s (FFCDC) expansion into new regions by supporting small businesses from diverse backgrounds to scale and impact the ecosystem. The  grants are paired with access to one of the stellar business accelerator programs they  encourage businesses that are looking to grow and scale their businesses in size, scope and knowledge to apply.

What are they offering? 

• $5,000 business grant
• Scholarship to Founders First CDC business accelerator program
• Access to Forgivable Loans ranging from $25,000 to $250,000

Eligibility Criteria

• Must be located in the designated region (region specific)
• Must have a current staff of 2-20 employees
• Will have the ability to add 1-2+ net new premium wage jobs in the next 12 months
• Must be a Service Based Business, light manufacturing, B2B or have a service component
• Founder must be Black, Indigenous, Persons of Color (BIPOC) , LGBTQIA+, Veteran, Women, located in an LMI area
• Have an Annual Revenue of at least $100K and not to exceed $3 million
• Provide a narrative and a 90 second video about the business
• Provide a narrative on how the business was impacted by COVID and what they are doing to sustain their business
• Agree to provide information on intended use of funds if awarded
• Agree to provide financial documentation to verify revenues
• Agree to provide an organizational chart to verify current employees and plans to add 1-2+ net new jobs to your organization in the next 12 months
• Complete all parts of the application process
• Agree to participate in one of FFCDC’s accelerator programs as part of the grant award.

For more information, visit Founders First CDC.