$100K in microgrants awarded across 23 struggling, but resilient minority businesses

September 2, 2020  |  Startland News Staff

AbdulRasheed Yahaya, Local Legends Gaming; Lisa Ragan, Safely Delicious; and Shelley Cooper, Diversity Telehealth

Editor’s note: The Ewing Marion Kauffman Foundation is a financial sponsor of Startland News. This report was produced independently by Startland News’ nonprofit newsroom.

A COVID-era resiliency fund that quickly closed applications after receiving a deluge of response from entrepreneurs in need has awarded microgrants to 23 minority businesses on both sides of the state line.

“With many of the federal small business aid programs not reaching our entrepreneurs of color, this was a unique opportunity to create equity,” said Davin Gordon, senior business development officer for AltCap and a member of the evaluation committee for the Kansas City Minority Business Resiliency Grant. “It’s not everyday you get the chance to give away $100,000 in small business grants. The selection process wasn’t easy, and we look forward to the impact these grants will have for the selected businesses.”

All recipients were entrepreneurs of color, according to organizers of the effort, and more than 60 percent of the grant awardees were women.

The fund, supported by the Ewing Marion Kauffman Foundation and administered by the UMKC Innovation Center and partnering financial institutions, was created to help business owners who haven’t been able to access disaster financing and relief funding at the same rate as others during the COVID-19 pandemic.

Click here to read more about the grant program’s launch.

All businesses awarded a microgrant are majority owned by racial/ethnic minority entrepreneurs, are located in the Kansas City Metropolitan Statistical Area, have proof of sales in 2019 that didn’t exceed $250,000 and have been negatively impacted by COVID-19.

The 100-applicant threshold was met in just two hours after applications opened Aug. 17, illustrating the immense need of a grant fund such as this, which does not require recipients to repay any of the financing they receive through this opportunity. Recipients could request between $500 and $5,000.

Click here to learn more about the immediate response to the Kansas City Minority Business Resiliency Grant.

Of the 23 businesses receiving funding through this grant, 20 received the full amount they requested, according to the UMKC Innovation Center. An additional three businesses received funding with remaining funds.

Entrepreneurs and businesses supported through the fund’s grant rollout include:

Missouri

Kansas

Click here to explore KCSourceLink’s COVID-19 resources.

startland-tip-jar

TIP JAR

Did you enjoy this post? Show your support by becoming a member or buying us a coffee.

2020 Startups to Watch

    stats here

    Related Posts on Startland News

    Made in KC crowns first-ever ‘Maker of the Year’ (plus the local-first retailer’s best new product)

    By Tommy Felts | December 12, 2024

    Kansas City’s thriving maker community received a festive boost this holiday season as Made in KC unveiled its first-ever Made in KC Awards — a celebration of creativity and entrepreneurial spirit.  The awards highlight more than a dozen standout makers and innovative products, with two big  winners — KC New Maker of the Year and…

    New KC podcast ‘Beyond the Founder’ explores the human side of entrepreneurship

    By Tommy Felts | December 12, 2024

    Founder admits he doesn’t know everything, but getting vulnerable could shed light on the answers   Editor’s Note: Startland News serves as the in-kind media sponsor of “Beyond the Founder.” This story was produced independently by Startland News’ staff.  For 23-year-old Will Strout, the entrepreneurial journey isn’t just about profit margins and business plans — it’s…

    A formal degree in crypto? KC Futures DAO spearheads globe-spanning blockchain education collaboration

    By Tommy Felts | December 12, 2024

    A trend-setting new partnership between Kansas City blockchain visionaries, local digital innovation advocates and global thought leaders at the University of Nicosia of Cyprus could bank tech-forward thinkers a new degree of expertise: think a master’s in crypto. The opportunity comes as the KC Futures DAO, KC Digital Drive (KCDD) and the University of Nicosia…

    Shopify-linked e-commerce platform adds $5M KCMO investment to its cart, delivering 46 new jobs to region

    By Tommy Felts | December 11, 2024

    A 113,000-square-foot fulfillment center in Kansas City is expected to help Miami-based OpenStore provide faster and more efficient service to its growing portfolio of e-commerce brands — and bring $2 million in payroll to the region in the next five years. Opening in March 2025, the project is expected to ultimately create 46 new jobs…