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The Equity Fund Grant for Queer Entrepreneurs of Color | $5K-$30K
Who: Must identify as a LGBTQ+ small business owner based in the Twin Cities, Minnesota, or Midwest
Deadline: TBD - Summer 2024
The Equity Fund (originally known as the Twin Cities Queer BIPOC Business Capacity Fund)Â was created in 2020 in direct response to the dire economic circumstances created by COVID-19 and the civil unrest and burning of Lake Street following the murder of George Floyd by the police. PFund distributed $90,000 in microgrants in 2020-21 to help Minneapolis queer small business owners of color with flexible cash assistance and remote business capacity training resources.
Fast forward to today - The PFund Foundation, in partnership with Quorum, is proud to announce the 2023-24 round of Equity Fund grants. This program invests in queer entrepreneurs and small businesses from across the Upper Midwest, with a particular focus on queer entrepreneurs of color and queer-owned businesses in rural areas.
Evaluation Criteria for The Equity Fund Grant for Queer Entrepreneurs of Color
All applicants must meet the following criteria:
You identify as LGBTQ+
Your business is located within the seven-county Twin Cities metropolitan area, Minnesota, or within North Dakota, South Dakota, Iowa, Wisconsin, or the First Nations therein
Your business has been in operation for at least one year
The annual gross revenue of your business for your most recently completed fiscal year was $250,000 or less. Your business has 20 or fewer employees
*There are three (3) Equity Fund grant categories. For 2 out of 3, you must identify as Black, Indigenous, or a Person of Color to apply.
Grantee Obligations
If awarded you must agree to the following conditions:
You agree to only use grant funds for the business purposes outlined in your proposal
You agree to provide PFund Foundation with the paperwork necessary to process grant payments
You agree to attend 80% of the cohort meetings over the course of the program
You agree to complete an online survey and produce a report
Benefits
Each grant recipient receives:
Grants ranging from $5,000 up to $30,000 to be used to support building small business capacity and developing queer entrepreneurship across the region
Access to five training sessions customized to the needs of small business owners
A one-year membership to Quorum, Minnesota's LGBT chamber of commerce
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