Applications for $100K grant opens for Black-owned businesses in Kansas City
KANSAS CITY, Mo. (KCTV) - A local organization has opened applications for a $100,000 grant for Black-owned businesses in Kansas City, Missouri.
Kansas City Generating Income for Tomorrow announced on Monday, May 19, that it has officially opened applications for its most substantial grant - a $100,000 award meant to accelerate the growth of a high-performing Black-owned business in Kansas City.
G.I.F.T. officials indicated that the new $100,000 grant is a large step forward in their mission to close the racial wealth gap through investments in businesses that have the chance to be significant employers and economic drivers in their communities.
“Our focus has always been to Black-owned businesses that can become significant employers on the east side of Kansas City and this grant will help us do that more aggressively,” said Brandon Calloway, CEO and Co-Founder of KC G.I.F.T. “It will be another step in creating the economic engine that the east side needs, as it will facilitate business growth and job creation.”
To qualify, organisation leaders noted that applicants are required to meet the following:
- Ownership - At least 51% Black-owned
- Location - Based in Kansas City, Missouri, with a preference for businesses east of Troost Ave.
- Operational History - A minimum of 1 year in operation
- Revenue - An annual revenue of at least $100,000
- Employment - Employ a minimum of 2 full-time W-2 employees, excluding the owner
- Financial Documentation - Submission of a Statement of Financial Activity and relevant tax returns, 2023 and 24 for businesses operating over 2 years; 2024 for those operating for 1 year
Since its inception in 2020, the organization has distributed more than $1.8 million in grants to 77 Black-owned businesses, resulting in the creation of more than 135 new jobs.
G.I.F.T. said the application deadline for the $100,000 grant is July 8. Interested businesses can apply HERE.
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