After extensive outreach to Black business owners in Kansas City to assess the current needs of the community, the following program has been created:
Growth grants are provided in the amounts of $25,000 & $50,000 and a startup grant is provided at $10,000
Recipients who receive our grants are provided with a team of technical assistance professionals in the realms of Business Coaching, Accounting, Marketing and Legal services
A minimum of one growth grant and one startup grant are awarded per month
The hope is that we will eventually be able to create 100-200 new jobs in low income communities each year through direct job creation (initial grant funding) and indirect job creation (being a catalyst for business growth). Over the next 5 years we want to see a steady decline in the poverty rate of the Urban Core and work to fund the development of a Black owned grocery store in an food desert.
The guidelines for how G.I.F.T. identifies grant recipients are outlined below:
- The business applying for the grant must be majority Black-owned.
- Preference will be given to businesses that are located or operate in our identified focus area (64109, 64110, 64127, 64128, 64130, and 64132).
- The business must have a detailed itemized breakdown of exactly how the grant dollars would be utilized, and clearly articulate the detailed long term impact on business growth.
- Eligible expenses are payroll, inventory, fixed cost (rent, equipment, lease, etc.), and other day to day expenses.
- Preference will be given to projects with the highest propensity for job creation.
- The business will need to submit proof of their organizational structure and a recent financial statement.
- Failure to provide this information will result in the application being disqualified.
One of the grants will be in the amount of $25,000 or $50,000 each month, to help a business grow.
The second grant will be in the amount of $10,000 to help a business get started.