$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

    Combat to capital: Vetelligence founder secures NMotion investment, accelerator deployment

    By Tommy Felts | May 8, 2023

    A Kansas City-based startup focused on guiding military service members into tech careers is among the latest companies selected for a top regional accelerator — strengthened by its founder’s own background as a veteran-turned-entrepreneur. Vetelligence — led by Zachary Oshinbanjo, who served nearly four years as an indirect infantryman and specialist in the U.S. Army…

    Bird ridership soars during NFL Draft amid exclusive e-scooter partnership with KCMO

    By Tommy Felts | May 8, 2023

    Daily rides in Kansas City increased by 724 percent during April’s NFL Draft weekend, Bird reported, following the three-day series of events that brought more than 300,000 fans to festival grounds at Union Station. “We’re thrilled to have partnered with Kansas City and the NFL to support the 2023 NFL Draft by providing efficient, affordable,…

    First he got the park clean, then his brother; New theater explores how Chris Harris played through the hazards

    By Tommy Felts | May 5, 2023

    Five years after opening a golf course in the Ivanhoe neighborhood to help revitalize his community from within, Chris Harris is taking a swing at the east side’s theater desert. Harris — the owner and operator of Harris Park Midtown Sports and Activity Center and lifelong neighborhood resident — has now built an indoor theater…

    Donald Hawkins, KC Collective; STARTLAND's Innovation Exchange

    Former KC startup acquired by Atlanta-based banking platform, uniting two of the largest Black-owned fintechs

    By Tommy Felts | May 5, 2023

    ATLANTA — Greenwood, a digital banking platform for Black and Latino individuals and businesses, announced this week its acquisition of Kansas City-founded Kinly — a neobank building generational wealth for Black America. The deal will help grow Atlanta-based Greenwood’s ecosystem of more than 1 million members and provide Kinly’s community of more than 300,000 with…