The grants can be used for salaries, wages, lease payments, working capital or capital improvements.
The $1.25 million fund was launched in October 2020 with designs to assist with business success, job retention and job creation for Black- and Latino-owned businesses during the COVID-19 pandemic. “Although the second round of the grant window is not finalized yet, it is expected to be opened in October,” chamber spokeswoman Ethanie Good said last week.
To be eligible, a business must have Black or Hispanic owners and have a maximum of $1 million in annual gross sales. Businesses have to have been started on or before Jan. 1, 2020, and can range from having one to 25 employees. Grants up to $25,000 are provided. The program announced in December its first round of grants that were a combined $229,000 for 21 recipients.
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