Founders First to award up to $60K in grants to firms with minority founders

Founders First Capital Partners, a privately held financial services firm based in San Diego aimed at increasing the number of diverse founder-led businesses, recently announced it will award up to $60,000 to 20 small business located in four New Jersey counties plus Philadelphia.

The firm is seeking businesses based in Burlington, Camden, Mercer and Essex counties, as well as Philadelphia County. (Apply here.)

The firm is seeking businesses that meet these requirements:

  • Be a for-profit company with annual revenues between $100,000 and $3 million;
  • Have a current staff of 2-20 employees;
  • Have the ability to add 1-2+ net new premium wage jobs in the next 12 months;
  • Have a founder who is Black, indigenous, a person of color, LGBTQIA+, military veteran, woman, or located in a low-to-moderate income area.

The 20 grants will be awarded as follows:

  • $10,000 (2);
  • $4,000 (2);
  • $2,500 (4);
  • $1,000 (12).

In addition, each grant recipient will receive a tuition scholarship for one of Founders First CDC’s business accelerator programs. The program estimates each of the 20 scholarships has a value of $500, adding $10,000 to the grant total.

Grant recipients will be selected based on their demonstrated ability to maintain and grow their workforce despite the pandemic, as well as their ongoing commitment to creating premium wage jobs in their communities.

Over 400 diverse-led small businesses have gone through Founders First programs to increase revenue, profitability and team members.

The application deadline is Aug. 20.