Up to $3 Million Available for Businesses That Fill Vacant Downtown Locations

Many Foremost Avenue companies have closed in recent times, leaving vacant storefronts in communities all through the U.S. Now, some communities are launching small enterprise grant programs to encourage extra companies to fill these areas. One such program launched this week, together with much more alternatives for small companies nationwide.

Washington, D.C. Downtown Restoration Grants

Washington, D.C., is presently offering grants for companies that open new storefronts or broaden their companies utilizing vacated downtown properties. The Downtown Restoration Grants program consists of $3 million in complete funds, which eligible companies can use to cowl building, lease, and utilities. The town expects to award grants of between $200,000 and $3,000,000 to as much as 5 companies. To qualify for grants, companies should lease an area within the Downtown Enterprise Enchancment District or the Golden Triangle Enterprise Enchancment District that has been vacant for at the very least six months.

Nebraska Small Enterprise Help Act Program

Nebraska is dedicating $4.2 million in funds to its new Small Enterprise Help Act Program. The Nebraska Division of Financial Improvement and Grown Nebraska Basis will administer this system, which provides grants of as much as $25,000 for brand new companies and as much as $12,500 for current companies that opened throughout the previous 5 years. Companies can use grant funds for numerous functions, together with startup prices, working capital, franchise charges, gear, or renovations. To qualify, companies should have not more than 5 full-time staff. Functions are being accepted now. And awards might be given on a rolling foundation till funds have been exhausted.

Birmingham Penny Basis Grants

Birmingham, Alabama, is partnering with the Penny Basis to assist small companies situated in sure neighborhoods of town. This system consists of $125,000 in complete funds, with grants of between $1,000 and $2,500 accessible to eligible companies. Companies can use grant funds to cowl numerous bills like mortgage, lease, or constructing enhancements. The applying interval is open from February 1 by way of 15. The winners might be introduced on February 29.

Nantucket Rock Stable Grant Program

The Nantucket Island Chamber of Commerce is presently running the sixth spherical of its Rock Stable Grant program. Funded partly by ReMain Ventures, the chamber initially launched this system in 2020 to help native companies through the pandemic. This system has since expanded, awarding 87 grants price over $433,000 over six grant cycles. This funding spherical goals to assist a brand new group of companies that wish to broaden or discover new alternatives. February 29 is the deadline to use.

Innovate Alabama

Alabama is offering as much as $250,000 in funding to eligible companies by way of its Innovate Alabama program. Innovate Alabama began in 2020, so that is the fourth spherical of this system. So far, Innovate Alabama has awarded $10 million to small companies all through the state. The grant program is open to companies that acquired federal funding by way of the Small Enterprise Innovation Analysis Grant (SBIR) or a Small Enterprise Expertise Switch Grant (STTR) program. Companies that acquired these grants can apply for supplemental grants now by way of February 16.

Magic Metropolis Match

Rev Birmingham, an financial improvement nonprofit in Birmingham, Alabama, is accepting functions for its Magic Metropolis Match grant initiative. This system helps Black entrepreneurs seeking to take their companies to the subsequent degree. Along with grant funds, this system provides sources to contributors like free enterprise teaching, actual property help, and monetary training. The group is accepting functions for this system by way of the top of February.

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