$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

    2022 Pipeline fellows

    Meet the new 2022 Pipeline fellows building ‘breakout’ startups and poised for rapid scale

    By Tommy Felts | January 27, 2022

    Persistence frequently pays off, said James West, reacting to his selection for Pipeline’s latest fellowship. The Lawrence biotech founder applied to join the elite entrepreneur network off and on since 2011 — and is now among 13 new fellows. “To finally get accepted is recognition of the work and progress I’ve made in the last few…

    2022 Pipeline Pathfinder cohort

    Overlooked to booked: How 12 founders are opening the gate to scaling success through Pipeline Pathfinder

    By Tommy Felts | January 27, 2022

    The idea that someone else sees Fresh Factory KC’s potential still seems remarkable for India Wells-Carter, she said Thursday as Pipeline unveiled her business as one of 12 selected for its first-ever Pathfinder cohort — an entryway into its elite network for often-overlooked entrepreneurs. “I know I believe in my company, but it feels great to…

    Pipeline unveils first-ever double cohort in bid to develop region’s next great serial entrepreneur

    By Tommy Felts | January 27, 2022

    Twenty-five founders are entering the Pipeline network this week, Melissa Vincent said Thursday, revealing the newest additions to its elite fellowship, as well as the just-debuted Pathfinder cohort for earlier-stage, underserved entrepreneurs. “We were blown away by the response,” said Vincent, executive director of Pipeline, noting the fall 2021 recruiting period was the most vigorous…

    Imagine Downtown KC South Loop reimagination

    10-year plan to create more ‘equitable downtown’ would remove interstates, make way for ballpark in city’s core

    By Tommy Felts | January 27, 2022

    Editor’s note: The following story was originally published by CityScene KC, an online news source focused on Greater Downtown Kansas City. Click here to read the original story or here to sign up for the weekly CityScene KC email review. A strategic plan that encompasses neighborhoods more than a mile from the skyscrapers of its central business district and…