The world is going through uncertain times. In fact, the pandemic era led to a worldwide economic crisis. The business sector has been one of the worst sufferers. Now, we are slowly returning to our normal lives. But various small and underrepresented business owners are facing a hard time. In fact, many of them have run out of funds and thereby quit their business.
However, there are several organisations that have stepped up to help small and underrepresented business owners. In fact, these organisations are providing economic support to these troubled business owners. A similar kind of initiative is the Job Creators Quest Grant. This grant was created by Founders First. They have recently announced some grants for minority-owned businesses in the state of Texas. Read the article to know more about the grant.
The Job Creators Quest Grant
Founders First created the Job Creators Quest Grant to help underrepresented business owners throughout Texas to retain and grow their businesses. They recently announced their second round of grants. In fact, they have opened submissions from 24th June and will accept submissions till 25th July. So, it is a lot of time.
Founders First also announced that this time, they have a total grant of $100,000. They further clarified that they will issue thirty grants to underrepresented business owners from the north, central, east and south Texas.
Shaylon Scott, the executive director of Founders First remarked that they are happy to provide the grant to the hard-working business owners in Texas. Scott added that the world is going through an uncertain economic time. Therefore, by providing the grant they are trying to close the wealth gap in the business world. In fact, it is important to note that this is their second round of grants. They distributed their first round of grants worth $100,000 worth to businesses located in New Jersey and Pennsylvania.
Eligibility Criteria For The Grant
Founders First has led down certain eligibility criteria for the businesses applying for grants. These are as follows:
- The business should function as a for-profit company, having annual revenues between $100,000 and $3 million.
- The founder of the business should be a minority, LGBTQIA+, military veteran, a woman or has to be a resident of a low-income area.
- The business should have 2 to 20 employees.
- The business should be service-based.
The money received through grants might be used to hire or rehire premium wage jobs. However, one can also use the money to purchase or develop the equipment necessary for the business. Interested and eligible businesses, especially underrepresented business owners from Texas may apply for the grant using the link given below:
Founders First has also clarified that the grants will range from $1,500 – $10,000 per company. Moreover, they have also suggested that the businesses receiving the grants will be offered a place in one of the accelerator programs of Founders First.
In addition, they have also declared that the grant fund will be disbursed in two instalments. The first instalment will be disbursed up to 60 days after signing the terms and conditions. On the other hand, the next instalment will be disbursed 60 days after the compilation of the accelerator program. Therefore, if you are an underrepresented business owner located in Texas, do not miss out on the grants.
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