Founders First Capital Partners Awards $100K to 30 Entrepreneurs in SoCal

By: Sharjeel Sohaib

• 

Oct 28, 2022

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The Inland Empire Business Journal has partnered with Founders First Capital Partners. As a result of this partnership, a total of $100,000 will be awarded to 30 diverse-led business owners in Southern California. 

Key Takeaway:

  • Through Job Creators Quest, Founders First Community Development Corporation (FFCDC) supports small businesses from diverse backgrounds to scale and impact the local economy.
  • You can also apply for the $100k grant by November 14 if you meet the eligibility requirements. 

What’s Founders First CDC?

Founders First CDC is a non-profit 501C3 community development organization and micro-small company accelerator. They help established small businesses with at least six figures in annual revenue that are underserved and underrepresented. 

Their programs use the curriculum, practical tasks, and professional coaching to walk business owners through the process of attaining fast growth. They emphasize service-based companies run by women, people of color, veterans, and those in low- to moderate-income communities.

Funders First CDC Introduced Kitty Fund to Support Entrepreneurs.

Founders First CDC introduced the Kitty Fund in response to the lack of support for women-owned businesses.

Even though most women needed government help to maintain their businesses during the epidemic, 90% of women- and minority-owned small businesses didn’t get government funding or support. 

Read Here: Founders First CDC Announces 2022 Kitty Fund 50 Finalists

Founders First Job Creators Quest Grant

One of the options available for small enterprises to apply for the funding they need to expand is the Founders First Job Creators Quest Grant. All grant recipients also receive a scholarship to one of their renowned accelerator programs as part of the aim to support founders’ ongoing education.

Grant money can be utilized as expansion capital to hire new premium-wage employees or rehire existing ones.

To help manage expansion challenges and scale for the future, needed equipment can be bought, fixed, or improved with the help of a cash infusion.

You must apply by November 14, 2022.

Awarding the Grants

Here’s how the entire grant awarding process will work:

  • Complete the application, including a brief pitch video, an organizational structure, a profit and loss (P & L) statement, and information about your company.
  • Ninety grant semi-finalists will be chosen for our final judging round after all completed applications have been examined.
  • The names of all 30 grant finalists are revealed during a live press event after confirming enrollment in the necessary accelerator program.

Eligibility Requirements for the Grant

To avail of these grants, businesses must meet the following eligibility requirements:

  • The founder must be a member of one of the following groups: Latinx, Black, Asian, Women, LGBTQIA+, Military Veteran, or a resident of a neighborhood with a low to moderate income.
  • It must be found in the cities of San Diego, Los Angeles, Orange County, Riverside, San Bernardino, and Imperial.
  • 2-20 employees are currently employed.
  • In the upcoming 12 months, you can add 1-2+ net new premium salary employment.
  • Must be a for-profit organization with yearly sales between $100K and $3M.

Founders First CDC awarded $100,000 to 30 Businesses in SoCal in 2021. 

Founders First CDC is awarding a total of $100,000 in free grants for 30 diverse-led businesses in Southern California. Founders First CDC is a non-profit organization that provides growth capital, strategic expansion programs, coaching, and resources to diverse-led companies. They aim to help them achieve $10M in revenues and beyond.

Read Here: Founders First CDC is awarding a total of $100,000 to 30 Businesses in SoCal.

Wrap Up!

Inland Empire Business Journal and Founders First Capital Partners team up to give $100K to 30 Southern Californian business owners. SoCal Founders First CDC is a non-profit organization that assists diversely led firms in achieving $10M in revenue and beyond by offering growth financing, strategic expansion programs, mentoring, and tools. 

The Founders First Job Creators Quest Grant is one of the ways small businesses can apply for the money they need to grow.

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