Minority Enterprise Grant Opportunity Now Available in Greater Charlottesville
For the third time since 2020, minority-owned businesses in the Greater Charlottesville area will receive grants through a partnership between the United Way of Greater Charlottesville and the Minority Business Alliance (MBA) of the Charlottesville Regional Chamber of Commerce.
The United Way is now accepting applications through July 1, 2022, for the FY2023 Minority Enterprise Grant Opportunity. A total of $50,000 will be awarded in ten grants.
“This set of grants is the amazing fruition of a continued and beautiful partnership between United Way and the Chamber Minority Business Alliance that continues to provide new access to capital for minority entrepreneurs,” said MBA Treasurer Alex Urpí, founder of Emergent Financial Services.
“With these funds, they will be able to continue growing their small businesses, providing local employment, creating generational wealth, and sustaining the diverse economy and community of the Greater Charlottesville area,” Urpí said.
Businesses will be able to use the grant funds for equipment acquisition, inventory, and operating expenses including business promotion.
“We know that gaps in access to capital still exist and hinder minority businesses from scaling,” said Ravi Respeto, President & CEO of the United Way of Greater Charlottesville. “We’re proud to continue to partner with the MBA to invest in minority entrepreneurship in the region and adequately allocate sufficient resources to help them grow and thrive.”
“A more diverse business community benefits everyone, and we’re proud to be working with committed and diligent partners in continuing to reduce barriers to success,” Respeto said.
In order to be eligible, a business must be at least 51% owned by one or more minority individuals (African American, Asian American, Hispanic American, or Native American).
Other eligibility requirements include:
Located within the Greater Charlottesville community (City of Charlottesville and counties of Albemarle, Greene, Orange, Louisa and Fluvanna)
In operation for at least 12 months
Annual net income less than $100,000
No more than 50 employees
Successful grant applicants must be current members of the Minority Business Alliance (MBA) or must join the Alliance before receiving grant funds.
Each grant recipient will attend an orientation with the MBA executive committee to help the business owner understand the grant requirements and build connections with the MBA community.
Previous Minority Enterprise Grant Opportunities distributed a total of $80,000 to nine minority-owned businesses in 2020.