- Who can apply? Any for-profit, minority-owned business that lives and/or operates their business inside the e-community offering the Pitch Contest. Owners must be a person of color.
- Are their age restrictions? No. Any entrepreneur that has legally formed their business is eligible to apply. The grant is open to youth entrepreneurs as well.
- What is the prize amount? Each e-community will award 3 winners $5,000 each.
- How is the prize dispersed? Funds are not given directly to the winner, however all funds must be used towards business operational expenses. Winners will request a fund dispersement toward a qualifying purchases to EBB and EBB will make the purchases on behalf of the entrepreneur within 5-7 business days.
- How many purchases can be made with the $5,000? Entrepreneurs are able to make fund dispersement requests until all $5,000 has been distributed. Entrepreneurs will receive all receipts in their business name.
- When must all money be dispersed? All monies must be spent by July 15th, 2023.
- What are considered qualifying purchases?Purchases must be used towards normal business operations (i.e.; marketing materials, website development, rent/lease payments, trainings/conferences, equipment, inventory, business licenses, etc.)
- What are NOT considered qualifying purchases? Cash distributions, payroll expenses, alcohol, gambling and illegal purchases.
Any specific questions regarding the grant can be sent directly to: firstname.lastname@example.org