Beyond Open is opening its third round of applications for grant funding for its small business grant program. Applications will open on August 5 and will run through August 30, according to the organization’s website.
Beyond Open Small Business Grant Program (Beyond Open) is administered by FFTC Partners For Empowering Communities, a supporting organization of the Foundation For The Carolinas. The program also receives support via the Wells Fargo Open for Business Fund.
The Beyond Open grant program is designed to assist diverse, small business owners in the Charlotte-Mecklenburg area by helping to provide funding for things such as equipment, technology, inventory, and real estate. By providing a program geared toward providing resources for POC, women and LGBTQ+ owned businesses, the hope is there will be a decrease in poverty, prejudice and discrimination eliminated, reducing neighborhood tensions and combatting community deterioration.
Beyond Open grants are focused on retaining jobs, encouraging job growth and economic development, and inspiring new entrepreneurial endeavors in communities with low economic mobility. Specifically, Beyond Open wants to focus on growing the businesses within the “Corridors of Opportunity” in Charlotte, as well as creating opportunities for small businesses to provide goods or services in, or start businesses in, areas of affluence where minority business owners have been historically under-represented.
Grant awards, which will require no repayment, can be used to acquire assets such as equipment, technology, inventory and real estate. Nearly 300 small businesses received a total of more than $10 million in grant awards during the first two rounds of the program. Approximately $5 million in grants will be awarded in the third round.
In rounds one and two of funding 292 grants were awarded, with the total amount awarded being $10.7 million. Individual award amounts range from $5,000 to $250,000 and 91% of awards going to businesses owned by People of Color. Around 60% of awardees were women-owned and operated businesses, as well as 11% of awardees being LGBTQ+-owned businesses.
Applications open on August 5 and will be available on the Beyond Open website at https://www.beyondopenclt.com/. For more information on what the organization wants from applicants on the application, you can go to the Application Preparation guide at https://static1.squarespace.com/static/62d135edbacd6103d1f0c5b2/t/664e3dcaf135ff1fd26b5d60/1716403661218/BO_Application+Guide_V7.pdf.
