Innovation Meets MainStreet
This grant is to help black-owned women businesses impacted by the COVID-19 and civil unrest.
Who is Eligible for the Grant?
Must have a legal for-profit business entity based in the Atlanta, GA, Charotte, NC, Louisville, KY, Cincinnati, OH, Detroit, MI, Nashville, TN or Orlando, FL.
Business must be currently operating (i.e. – not permanently closed).
Business must have a demonstrated record of operating for at least a year prior to May 1, 2020 and be temporarily closed due to local COVID-19 related mandate.
Business-owner ready to actively engage in MainStreet Rise product solutions now.
Business must be located in an Low- or moderate-income census tract.
Business must be for-profit businesses like LLC, Sole proprietor, S Corp, etc. with 10 or more employees.
Business annual revenues must be less than $1 million.
Business must not identify under any industry defined by SBA as “sin” industry.
Must be a woman owned business.
Applicant must not be a current director, officer, employee, or contractor of LISC or Fifth Third Bank. Such individuals and their relatives are not eligible to apply or seek an award.
How much is this grant?
The grants are $10,000 each.
How many grant awards will be made?
Grant awards will be made to 63 small businesses across the country.
Is there an application deadline?
Yes, September 23, 2020.
What are the terms of the grant? Do I have to pay it back?
No, the funds are yours to invest in your business.
Are there limitations on what the grant can be used for?
This grant is to help black-owned women businesses impacted by the COVID-19 or civil unrest. The grant can be used to help black-owned women businesses with layoff aversion, covering operational costs, pay rent/mortgage and connect with customers.
Who is eligible for this grant opportunity?
- Must be a legal for-profit business entity based in the Atlanta, GA, Charotte, NC, Louisville, KY, Cincinnati, OH, Detroit, MI, Nashville, TN or Orlando, FL;
- Business must be currently operating (i.e. – not permanently closed)
- Business must have a demonstrated record of operating before COVID-19 and was temporarily closed due to local COVID-19 related mandate
- Business must have started operations on or before May 2019
- Business-owner must be ready to actively engage in MainStreet RISE product solutions now
- Business must be located in an LMI census tract
- Has a maximum of 10 employees or is a sole-proprietor
- Annual business revenues must be less than $1 million
- Businesses must not identify under the following industries as defined by SBA:
- Loan packaging
- Speculative activities including commodities trading
- Pyramid sales plans
- Firms involved in illegal activities that are against the law in the jurisdiction where the business is located
- Firms involved in lending activities
- Gambling activities
- Charitable, religious or other nonprofit institutions
- Sex related industries
- The applicant must be the business owner and/or a leading executive of the business (President, CEO, CFO, COO, or any such other similar title)
- Business must not be a current directors, officers, employees, and contractors of LISC or Fifth Third Bank, and such individuals’ family members (spouse, parents, children, grandchildren, great-grandchildren, and spouses of children, grandchildren, and great-grandchildren) are not eligible to apply or seek an award
What information do I need to apply?
You’ll need to provide basic details about your business and its operations. We’ll ask you a standard list of questions to ensure you meet the qualifications.
What site do I use to apply for the grant
Please go to the application portal here
I am unable to register or create a new account.
Our tech support team is available to assist you with account creation issues Monday-Friday from 8am to 8pm ET and Saturday-Sunday from 10am to 6pm ET. Please contact them at https://aeoworks.smapply.io/helpdesk/.
I forgot my login credentials.
If you do not remember your access credentials, use the password reset feature on the site to reset your account. If you continue to experience technical issues, contact our tech support team for assistance. https://aeoworks.smapply.io/helpdesk/
What happens after I submit my application?
When will I receive a decision about my application?
We will work through applications as fast as we can. You will receive an email confirmation as soon as your application is submitted. You can expect to hear from us within 1-2 weeks about next steps.
Is there a background check and screening process?
A background verification check on all applicants will be conducted as part of the review process.
Want to receive updates on future grants?
The State of Black Female-Owned Small Businesses Webinar
Watch as Byna Elliott, Connie E. Evans, Steve Hall, Arian Simone, and Kimberly Blackwell as they discuss the state of female-owned small businesses.