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 businesses to help them achieve $10M in revenues and beyond.
We covered this in our Weekly Wire Roundup
So far, the organization has served 400+ companies, approved $21 Million in funding, and helped create 300+ jobs in the companies it backed. For the SoCal program, the application deadline is November 30, 2021. You can go through the FAQs to determine eligibility or email [email protected] if you have any specific questions.
Founders First CDC
The U.S. Founders First CDC helps you apply for a grant that you can use to grow your business (purchase, fix, or enhance equipment necessary or to help you manage your growth and scale for the future). It also offers the following programs regularly.
Key Questions about CDC’s $100K Grants
- Diverse-led company founders (including people of color, women, veterans, and LGBTQ leaders) with more than 2 employees.
Where do the grants come from?
- This effort is funded by $1 million available through CDC’s Job Creators Quest grant program at Founders First CDC. Organizations, including Rockefeller Foundation, Surdna Foundation, and Kaufmann Foundation, have helped Founder’s 1ST CDC raise funds for these grants.
Accelerator scholarships included
- Founders First has helped nearly 500 small businesses grow 25% yearly, receive $21 million in funding, and create over 300 jobs.
- Each grant comes with a scholarship to one of the organization’s management accelerator programs (image above) to help chart your growth path to $5 million in revenue.
Structure of SoCal Grants
Per details by Founders First CDC, a total of $100,000 will be awarded to 30 small businesses.
- $10,000 grant
- $4,000 grant
- $2,500 grants
- $1,000 grants.
You will also receive a tuition scholarship for one of Founders First CDC’s business accelerator programs.
Some of the success stories listed here will help you envision what your company may be able to achieve through these grants.