Beyond Open announced it will accept applications for a second round of small business grants beginning Aug. 1 and running through Aug. 31. The competitive grant program anticipates distributing $5 million to approximately 150 diverse-owned small businesses in amounts from $10,000–$150,000. In Round One, $5.9 million in grant awards were distributed to nearly 180 small business owners and select nonprofits from 3,200 applications received.
Beyond Open grants are available to help small businesses obtain capital assets including equipment, technology, real estate and inventory. The focus of the program is on historically underserved small businesses owned by individuals identifying as minority, woman, veteran, LGBTQ+ or a person with a disability, with a priority on areas within the six Corridors of Opportunity as identified by the City of Charlotte. Businesses must be physically located within one of the Corridors of Opportunity to be eligible to apply in Round 2.
“I’ve never been able to get a grant from any other organization before, and when I found out that I won a Beyond Open grant, it took such a weight off of me–to be able to continue to do what I love doing, and to grow,” Teneisha “Smittee” Smith said. Smith is the owner and master barber of Smitteez Cutz Barber Shop located in the Graham Street/North Tryon Corridor.
Beyond Open is supported by a grant to Foundations For The Carolinas from Wells Fargo’s Open For Business Fund.
“Our community’s diverse small business owners are leaders in creating opportunities for economic mobility,” Tracy Russ, special advisor for civic initiatives at FFTC, said. “Foundation For The Carolinas is honored to support these leaders through Beyond Open, and we are grateful to Wells Fargo for the support that makes the program possible.”
“Strengthening small businesses for the long-term is a priority for Wells Fargo,” Jenny Flores, head of small business growth philanthropy for Wells Fargo, said. “Enabling small business owners to purchase tangible assets, like property and equipment, helps them thrive, grow revenue and deepen their ties to the communities they serve.”
Interested small business owners can learn more and prepare by visiting beyondopenclt.com, where they can access Round 2 eligibility requirements, available grant amounts and allowed uses, information about application information sessions and a newly created Beyond Open Round 2 Application Guide. Applicants may also receive technical assistance from ASPIRE Community Capital, Prospera North Carolina, and Women’s Business Center of Charlotte. All applicants in the second round will receive notification of the status of their application by November 2023.
