$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

    Scaling fintech: Missouri Coast CEO nets solution to Platte River’s fish-flinging kayak attacks

    By Tommy Felts | August 30, 2024

    Editor’s note: This story was originally published by Kansas City PBS/Flatland, a member of the Kansas City Media Collective, which also includes Startland News, KCUR 89.3, American Public Square, The Kansas City Beacon, and Missouri Business Alert. Click here to read the original story. A little ripple tears through the muddy water. It’s small. It’s so small,…

    Kelce brothers announce $100M ‘landmark deal’ for podcast in sign of audio format’s growth

    By Tommy Felts | August 29, 2024

    Editor’s note: This story was originally published by Missouri Business Alert, a member of the Kansas City Media Collective, which also includes Startland News, KCUR 89.3, American Public Square, Kansas City PBS/Flatland, and The Kansas City Beacon. Click here to read the original story. Travis Kelce is making waves in the podcast world like he does on…

    $250K node grant expected to fund AI upgrade at KCSourceLink, part-time navigators for PHKC, Square One, The Toolbox

    By Tommy Felts | August 29, 2024

    A hefty new grant is expected to build upon a community collaboration’s framework to help small businesses start and grow over the next five to 10 years in the Kansas City area. The goal: better access to diverse resources for local entrepreneurs. The Missouri Technology Corporation (MTC) earlier this month announced a $250,000 regional node…

    Police hold 2 teen suspects in killing of Kansas City chef Shaun Brady, as Irish community mourns

    By Tommy Felts | August 29, 2024

    Editor’s note: The following story was published by KCUR, Kansas City’s NPR member station, and a fellow member of the KC Media Collective. Click here to read the original story or here to sign up for KCUR’s email newsletter. Brady & Fox chef Shaun Brady was a key organizer in Kansas City’s Irish Fest, which is scheduled to go on…