Founders First Job Creators Quest Grant

Founders First Job Creators Quest Grant is sponsored by Founders First CDC. Founders First CDC offers regional and national grant programs to support diverse business owners. Participants must identify as Asian, Black or Latinx women, LGBTQ+, or military veterans.

About Grants - Founders First CDC Frequently Asked Questions . Here are answers to the most common questions about Founders First CDC Grants What is the purpose of this program? To support growth of a more inclusive economy with small businesses regardless of who is the owner or where they live.

To enable revenue generating businesses with 2-20 employees including those led by diverse founders. We encourage premium wage job growth and award businesses that have been able to retain and grow despite the pandemic.

The grant programs are initiatives administered by Founders First Community Development Corporation’s (FFCDC) to support employer based, growth minded small businesses from diverse backgrounds to scale and impact the national and regional ecosystems. The grants are paired with access to one of our stellar business accelerator programs.

We encourage businesses that are looking to grow and scale their businesses in size, scope and knowledge to apply. Is this program for a specific region or is it available nationwide? How many businesses will be selected for this grant?

For each grant program we will select up to 25 companies and award them a grant package that includes a cash award, the amount of the award will be included on the announcement it will include a full tuition scholarship to a Founders First CDC business accelerator program. What are the specific eligibility requirements for companies to apply for this grant?

Program Qualifications: Must have a current staff of 2-20 employees Will have the ability to add 1-2+ net new premium wage jobs in the next 12 months Must be a Service Based Business, light manufacturing, B2B or have a service component Founders, owners and operators of small employer-based businesses committed to growth, should apply Have an Annual Revenue of at least $100K and not to exceed $3 million Provide a narrative and a 90 second video about the business Provide a narrative on how the business was impacted by COVID and what they are doing to sustain their business Agree to provide information on intended use of funds if awarded Agree to provide financial documentation to verify revenues Agree to provide an organizational chart to verify current employees and plans to add 1-2+ net new jobs to your organization in the next 12 months Complete all parts of the application process Agree to participate in one of FFCDC’s accelerator programs as part of the grant award What criteria are used for selecting the companies?

We will evaluate the applications submitted based on the company’s past operating performance and the strength of their ability to create 1- 2 new jobs within the next 12 months, complete and clear submission of information with documentation on their business and how the companies are going to leverage the grant funds to grow and create new jobs. What do you mean by premium wage jobs, why are you targeting that group?

A significant part of our mission is social and economic equity and we see a connection with full time jobs. We are seeking those businesses that are able to create jobs with an average $50K in yearly salary and benefits. Social Economic Equity is important and a connection to move the needle is to create full time roles that provide livable wages.

Many programs that are targeting this market may be creating part time jobs at minimum wage, and while that is positive it doesn’t close the economic equity gap. Can any company apply for this program? No, small employer-based businesses committed to growth, should apply.

They also need to be a revenue generating business of $100K to $5M per year, have at least 2 employees, seeking to grow and will add 1- 2 new jobs in 12 to 24 months. Non-profits are not eligible for this grant program. If a founder owns more than one business, only one application can be submitted per grant program.

See additional qualifications above. Where is the funding coming from to support this program? Founders First CDC has received grants to support our operations, including a $1M from the Rockefeller foundation that supports our growth.

Who is defined as a minority business? We recognize the definition of minority business owner as the tool and certification program that has been used for decades by the government and major corporations to engage and contract with businesses owned and operated by 51% black and brown founders. Founders First is a certified minority owned business.

Women led businesses that have over 51% ownership are defined as certified women owned businesses. How does a company apply for the grant? Go to https://foundersfirstcdc.

org to apply It says that these grants are paired with access to an accelerator program - what exactly is an accelerator program? A program that provides a combination of structured training, coaching and introductions to resources and partners. We offer 4 programs with multiple start dates that support businesses with revenues between$50K to $5million to help them grow and scale their businesses.

Over 3500 small businesses have graduated from our accelerator programs. What is the price of your accelerator programs? Our accelerator programs are premier executive level business growth programs.

Thanks to our support organizations, we are able to offer scholarships up to 90% of the tuition. Depending on the program, the cost can range from $250 to $2500. For grant recipients, the cost of the accelerator is included as a 100% scholarship What is the reduced rate for the accelerator program for those who are NOT awarded the grant?

All grant applicants are eligible to participate in FFCDC’s accelerator programs at a discounted rate as follows: Passport $TBD ; Zebra Leadership $699 Bootcamp $1199 ; FastPath $1199. Grant recipients receive a 100% scholarship to the programs as part of their grant award. How are payments disbursed for grantees?

The cash award grant amount will be disbursed in two installments. Half of the net grant amount will be disbursed up to 60 days after signed terms and conditions, W-9 and set up of payment disbursement system is confirmed. The remaining portion will be disbursed up to 60 days after the completion of the business’ participation in the eligible accelerator program.

What do I need to do to ensure I receive the awarded amount? Payment of funds are subject to Grantee’s compliance with the following conditions: Grantee shall register, participate and complete the assigned Program. Grantee shall set up an account with Bill.

com to receive Grant disbursements. Grantee shall use the Grant funds in a manner consistent with the Grantee’s grant application. Grantee shall complete all Program assignments, assessments, success work and participate in the pitch event.

Grantee shall complete all member success quarterly surveys, coaching sessions and provide documentation that may include your business financial information. You are now leaving Founders First CDC You will now be redirected to: Click the link above to continue or CANCEL