$20 million available for diverse Houston-area small businesses, non-profits
Mayor Sylvester Turner joined Houston Equity Fund to announce the launch of the Open for Business Grant portal.
HOUSTON - Diverse Houston-area small businesses and non-profit organizations have an opportunity to apply for grants thanks to a new portal.
This week, the City of Houston announced the launch of the Open For Business grant portal, which will distribute $20 million in grants to an estimated 500 small businesses.
"We are providing access to much-needed funds for Houston’s small businesses of color and non-profits that focus on leveling the playing field. It will empower their work, allow them to thrive, extend their reach, and support innovation," said Mayor Sylvester Turner, who joined the Houston Fund for Social Justice and Economic Equity and Wells Fargo to announce the portal.
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Business owners will have the opportunity to apply for grants ranging between $10,000 and $65,000.
The Houston Fund for Social Justice and Economic Equity will distribute the funding in the form of grants over a three-year period towards the purchase of property, equipment, and other tangible assets, supporting economic development in underserved communities.
Who qualifies for the Open For Business grants?
- Applicant’s business or 501c3 non-profit must be located in the Houston-area
- Must consist of 50 employees or fewer
- Must be led by people of color
- Must have been established by December 31, 2021
How do you apply?
Qualifying business owners can go to the electronic portal link by visiting houstonequityfund.com.
The grant portal opens on Tuesday, Aug. 9 at 9 a.m. and closes on Tuesday, Aug. 23 at 11:59 p.m. CST.
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Where is the funding from?
The $20 million in grants comes from Wells Fargo’s Open for Business Fund, a roughly $420 million national small business recovery effort with a "focus on racially and ethnically diverse small business owners, who have been disproportionately affected by the pandemic."