$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

    ‘Food is Medicine’ tech platform shows appetite for growth with new $2.1M seed round

    By Tommy Felts | January 26, 2023

    A patient-driven digital platform that empowers lower income Americans living with chronic health conditions to order the diet-specific foods and support they need announced Thursday it has closed a $2.1 million seed investment. The funding for Free From Market — one of Startland News’ Kansas City Startups to Watch in 2023 — allows the company…

    Head in the grounds: Why Ben Cloud is the first (and last) hand to touch his evolving coffee brand

    By Tommy Felts | January 26, 2023

    Americans drink coffee like water, youth entrepreneur Benjamin Cloud noted, and he’s doing his part to fuel their habit. The recent Shawnee Mission North graduate — inspired by an intro to business class — started Cloud’s Coffee two years ago when he was 15. “I initially thought about coffee because of the size of the…

    Yoli Tortilleria, Drastic Measures among 7 local restaurants, bars named James Beard semifinalists

    By Tommy Felts | January 26, 2023

    Editor’s note: The following story was originally 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. Kansas City is well represented in the national food competition this year — with The Town Company, Yoli Tortilleria, Drastic Measures and…

    Diverse startups are growing in KC, but is equitable funding matching their traction?

    By Tommy Felts | January 26, 2023

    Editor’s note: This story was originally published by The Kansas City Beacon, a member of the KC Media Collective, which also includes Startland News, KCUR 89.3, American Public Square, Kansas City PBS/Flatland, and Missouri Business Alert. Click here to read the original story. While Kansas City has ample resources for the growing number of budding entrepreneurs, BIPOC…