Founders First CDC Announces Job Creators Quest Grant for Diverse Inland Empire and Orange County Businesses
May 20, 2021 - Inland Empire, Calif. - Founders First CDC (Founders First), a 501(c)3 non-profit that empowers expansion in diverse founder-led, revenue-generating businesses, announced its new Job Creators Quest Grant to support underrepresented entrepreneurs in the Inland Empire area. Ten local businesses will each receive a portion of the $30,000 grant.
The Job Creators Quest Grant will create premium wage jobs and reward diverse-led businesses in the Inland Empire community that have been able to retain and grow their workforce despite the pandemic. Funding for this program was facilitated by a $1 million grant from the Rockefeller Foundation, in conjunction with Founders First Capital Partners’ recent $9 million Series A financing. Additional support is being provided by Union Bank, Pacific Western Bank, Inland Empire Regional Chamber of Commerce, Small Business Majority and Inland Empire Black Chamber of Commerce.
“Founders First CDC continues to take a proactive approach in helping small businesses. More than ever, the small business community needs our help. The Inland Empire Regional Chamber of Commerce is delighted to be a partner in this initiative,” says Edward Ornelas, Jr., President & CEO of The Inland Empire Regional Chamber of Commerce.
"It's no secret that underrepresented business owners have been disproportionately impacted by the COVID-19 pandemic, and we know that diverse small businesses in the Inland Empire need additional help and resources to support them on their pathway to recovery," said Latavia Pineda, Southern California Outreach Manager for Small Business Majority. "That's why we're thrilled Founders First CDC is launching the Job Creators Quest Grant to invest in diverse-led small businesses that are creating quality jobs, and we look forward to educating local small business owners about this new opportunity.”
This funding opportunity is paired with access to Founders First stellar business growth accelerator programs and will support businesses generating $100,000 to $3 million in revenue with 2-20 employees led by diverse founders.
In order to encourage premium wage job growth, the grants will benefit businesses that have sustained their employee base and will have the ability to add new premium wage jobs in the next year. Diverse founders may be Black, Indigenous, a Person of Color, LGBTQIA+, Military Veteran, Female, or located in a low to moderate-income area.
Shaylon Scott, Executive Director of Founders First, impresses that this grant program is a way to create success beyond the classroom, “Many founders end up working more in their business than on their business. We want to help give them resources to grow, becoming premium wage job creators within their community. Investing in diverse founders is an impactful way to drive job and wealth creation in underserved communities.” Scott continues, “the Job Creators Quest Grant is more than a dollar amount, it’s a celebration of their success.”
Applications open May 17, 2021 and close June 11, 2021. To apply for the grant, visit: https://foundersfirstcdc.org/job-creators-inland-empire-oc/
To apply for the business accelerator program, visit: https://foundersfirstcdc.org/programs/
About Founders First CDC
Founders First CDC is a not-for-profit 501c3 that was founded in 2015 and has received significant support from the regional community reinvestment banks to empower diverse founder-led, revenue-generating small businesses through three primary programs: (1) Founders Challenge; (2) Founders Bootcamp; and, (3) Founders FastPath. By building recurring revenues, tech-enablement, and essential solution focus, Founders First serves as a catalyst for positive change to entrepreneurs of color and female founders to become leading employers in their communities. www.foundersfirstcdc.org
SOURCE: Founders First Capital Partners
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