Sponsoring Agency: Founders First
Type of Fund: Grant
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 04/30/2021
Size of the Fund: Less than USD $50,000
Founders First is committed to increasing the number of diverse founder-led businesses generating over $1 million dollars in revenues and creating premium wage jobs.
The Job Creators Quest Grant provides eligible small businesses in the Chicago area the chance to win one of 10 grants totaling $30,000.
This grant opportunity is paired with access to one of Founders First CDC’s stellar business accelerator programs at a reduced rate. Over 400 diverse-led small businesses have gone through Founders First programs to increase revenue, profitability and team members.
Funding for this program was facilitated by a $1 million grant from the Rockefeller Foundation and support from The Chicago Community Trust through the Benefit Chicago Initiative, in conjunction with Founders First Capital Partners’ recent $9 million Series A financing led by The Rockefeller Foundation and the Surdna Foundation. Additional support is being provided by the Initiative for a Competitive Inner City (ICIC) and the Illinois Hispanic Chamber of Commerce (IHCC).
Grant recipients will be selected based on their demonstrated ability to maintain and grow their workforce despite the pandemic, as well as their ongoing commitment to creating premium wage jobs in their communities.
• Must be located in the Chicagoland area (counties include: Cook, DuPage, Kane, Lake, McHenry, Will)
• Must have a current staff of 2-20 employees
• Will have the ability to add 1-2+ net new premium wage jobs in the next 12 months
• Must be a service based business, light manufacturing, B2B or have a service component
• Founder must be Black, Indigenous, Person of Color, LGBTQIA+, Military Veteran, Woman, or located in a Low to Moderate Income area
• Have annual revenues between $100K and $3 million
• Provide a narrative and a 90 second video about your business
• Provide a narrative on how your business was impacted by COVID and what you are doing to sustain your business
• Agree to provide information on intended use of funds if awarded
• Agree to provide financial documentation to verify revenues and current employment base
• Agree to participate in one of Founders First accelerator programs at a discounted rate
• Agree to provide documentation that will show how you plan to add 1-2+ net new jobs to your organization in the next 12 months
More information at: https://foundersfirstcdc.org/job-creators-chicago/