$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

    Jeff Rohr, SquareOffs

    MTC hits $50M investment milestone through its state-sponsored venture capital program

    By Tommy Felts | April 30, 2024

    JEFFERSON CITY, Missouri — A Show-Me State program launched a decade ago to drive economic development in Missouri and support tech founders has surpassed $50 million in equity-based investments for nearly 160 Missouri-based technology startups. The Missouri Technology Corporation announced the milestone Tuesday, lauding its Innovation, Development, and Entrepreneurial Advancement (IDEA) Fund for impact that…

    Closing the funding and resource gap for women-owned businesses 

    By Tommy Felts | April 29, 2024

    Editor’s note: The opinions expressed in this commentary are the author’s alone. Latasha Randle is a Strategy & Small Business Program Manager at Block Advisors by H&R Block, which was founded in Kansas City and boasts its headquarters in downtown KC.  Small businesses are the foundation of a flourishing economy. Every business, big or small,…

    How Independence’s new speakeasy vibes tie into the ‘goats and rabbits’ of Kansas City’s past

    By Tommy Felts | April 27, 2024

    Revitalization efforts needn’t overwrite history, said Bree and Travis Gensler, whose new venture in downtown Independence aims to infuse spirits of 2024 into the historic square without losing memories of the area’s storied past. Their latest pour: The Sentinel Room. Four years ago, the couple purchased a building on Lexington Avenue that contains three commercial…

    Gains you can see: StratFit’s new gym in Waldo reps digital fitness platform’s heavy lifting 

    By Tommy Felts | April 27, 2024

    With his NYC-inspired training studio in Waldo opening earlier this spring, Daniel McKee wants to keep busy professionals motivated to stick to their fitness goals — and use the space to refine and advance adoption of his tech platform. “Everyone that comes to the door is very impressed with the place, we tried to make…