$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

    KC Futures DAO aims to launch Kansas City’s first blockchain-driven innovation magnet

    By Tommy Felts | May 31, 2024

    As the US races to catch up to Europe, Asia and the developing world with regard to crypto, blockchain and Web3 tech, can the careful creation of talent-attracting digital hubs help close the distance? Today’s global economy — and its hyper-competitive talent market — rightly sees rapidly advancing technology as a relentless force, said Troy Carlson,…

    New summer pitch competition builds on KCMO capital programs’ early success; applications open now

    By Tommy Felts | May 31, 2024

    A new pitch competition is expected to give impactful small businesses and startups an opportunity to gain broader exposure and win cash prizes as the city’s KC BizCare Office expands capital programs supporting entrepreneurs in Kansas City, Missouri. In late July, five selected business leaders are set to pitch their ideas to about 50 judges,…

    Vytelle’s next expansion: A third IVF lab in Australia as startup scales reproductive solutions for beef, dairy farmers

    By Tommy Felts | May 31, 2024

    A Lenexa-based agtech company’s 21st lab space is planned for Melbourne, Australia, as the global leader in bovine in vitro fertilization works to revolutionize the industry and give farmers unparalleled access to hormone-free IVF. The state-of-the-art facility — set to open later this year — will be Vytelle’s third lab in Australia following the opening…

    ‘Well, S***’ sign-maker and ‘native Cole Camp girl’ revitalizes rural downtown’s small business scene

    By Tommy Felts | May 30, 2024

    Editor’s note: The following story was produced through a paid partnership with MOSourceLink, which boasts a mission to help entrepreneurs and small businesses across the state of Missouri grow and succeed by providing free, easy access to the help they need — when they need it. COLE CAMP, Missouri — What started as a side…