$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.

[divide]

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

    LaunchKC, Techweek to welcome 10 tech firms to KC in style

    By Tommy Felts | May 11, 2015

    In roughly four months, Kansas City will welcome a crop of tech startups bolstered by thousands of dollars in funding and a rockstar arrival. Kansas City’s LaunchKC competition — which aims to attract 10 tech firms to relocate to KC with $50,000 grants — has partnered with national tech conference Techweek to offer the winners…

    GUILDit

    New platform GUILDit offers art entrepreneurs visibility

    By Tommy Felts | May 11, 2015

    A new program called GUILDit to promote and support art entrepreneurship is coming to Kansas City. The program is a bi-monthly gathering where art entrepreneurs take the stage to give six-minute presentations followed by questions and answers in the hopes of crafting a stronger Kansas City art economy, and to further connections between local artists.…

    HEMP brings Apple co-founder to KC as featured speaker

    By Tommy Felts | May 8, 2015

    Steve Wozniak, co-founder of Apple, will be the keynote speaker at The Helzberg Entrepreneurial Mentoring Program’s 20th anniversary celebration. Wozniak’s experience shaping the computing industry and influential product design for Apple have produced him fame as one of technology’s key thought leaders. “As a successful entrepreneur, Steve Wozniak understands the importance a mentor can make…

    In time for Mother’s Day: Ovatemp wants to boost women’s fertility

    By Tommy Felts | May 8, 2015

    The arrival of Ana Mayer’s baby girl isn’t the only thing she’ll be thinking about this Mother’s Day. Mayer — who’s among the newest founders in the Techstars-led Sprint Mobile Health Accelerator in Kansas City — will also be mulling how to further develop Ovatemp, the Boston-based ovulation tech company she leads. Ovatemp offers women…