This opportunity will provide finalists with access to a network of like-minded individuals and expert business coaching, including both one-on-one and group sessions with experts who have previously walked in their shoes as entrepreneurs.
CHICAGO, Jan. 28, 2024 /PRNewswire-PRWeb/ -- Non-profit Founders First CDC relaunches The Chicagoland Job Creators Grant offering $100,000 in total funds to 25 diverse-led businesses in the state of Illinois. This grant is intended to support premium-wage job creation in under-resourced small businesses. Grant applications are accepted beginning Tuesday, January 9, 2024 through February 6, 2024.
The grant packages include a cash award, full-tuition scholarship to the Founders First Business Accelerator Program, and membership in the Founder First platform that offers unique business resources through educational curriculum, access to funding partners, and connections from a network of experienced diverse entrepreneurs and partners.
Twenty-five grants will be awarded to diverse-led companies across the state of Illinois. The eligibility requirements include:
- Founder identify as one of the following: Latinx, Black, Asian, Women, LGBTQIA+, Military Veteran, or located in a Low to Moderate Income area
- Must be a for-profit company with annual revenues between $100K and $5 million
- Current business model Business-to-Business (B2B) or Business-to-Government (B2G) only
- Will have the ability to add 1-2+ net new premium wage jobs in the next 12 months
- Current staff of 2+ employees
- Must be located in the state of Illinois
To apply for the grant program, visit: foundersfirstcdc.org/chicago
"For 4 years, this has been an opportunity for minority owners to be just as strong and resilient as majority firms by creating premium wage jobs that improve the lives of their families and future employees," says Founders First CDC, Executive Director, Shaylon Scott.
Often struggling to access capital, the grant was created to support diverse-led businesses in procuring the resources to retain and grow their workforce, fostering sustainable growth beyond current economic circumstances. Founders First has supported over 1,848 companies since the Job Creators Grant programs became, helping them achieve an average of 25% year-over-year growth.
"Illinois has 1.2 million small businesses. This grant is a big step in helping these businesses get the capital they need to grow and scale—driving our economy and changing our communities," says partner organization, LISC Chicago, Marcus Yancey the Economic Development & Special Projects Program Officer.
Past program graduate and grant recipient Ryan Clark, CEO of Mr. Sharepoint, attests to the program's potential to change the trajectory of diverse founded businesses. "Previously, I was working 20-22 hours a day with only 2 hours of sleep, which was not sustainable. The Bootcamp Accelerator Program helped me acquire the resources and taught me how to hire others to do the work I was originally doing, allowing me to focus on growing the business rather than being consumed by day-to-day tasks," Clark shares.
Vice President of Community Impact at World Business Chicago, LaForce Baker says, "It's common sense to support grants like this that target very small businesses in under-resourced areas to give them the boost they need to keep their doors open and hire talent. To encourage the growth of these diverse-led businesses is our investment into local communities —and inspires future entrepreneurs."
For more information, qualified business owners should visit foundersfirstcdc.org/chicago to apply for the grant.
Founders First CDC
Founders First CDC is a nonprofit 501c3 that was founded in 2015 and has received significant support from the regional community reinvestment banks to empower diverse founder-led, revenue-generating small businesses through three primary programs: (1) Founders Challenge; (2) Founders Bootcamp; and (3) Founders FastPath. By building recurring revenues, tech enablement, and essential solution focus, Founders First is a catalyst for positive change for underserved entrepreneurs and founders to become leading employers in their communities. Since launching, Founders First CDC has awarded more than $620,000 to minority and underserved business owners throughout the United States, focusing on Texas, Chicago, Southern California, Pennsylvania, and New Jersey regions. Through this partnership, Founders Frist CDC has officially expanded its impact offering to Minneapolis-St. Paul. Learn more: www.foundersfirstcdc.org.
Media Contact
Janine Drake, Founders First CDC, 1 (858) 206-8542, [email protected], https://foundersfirstcdc.org/
SOURCE Founders First CDC
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