Source: Storyblocks / Radio One
Downtown Raleigh Alliance offers this grant program to incentivize and attract new retail, restaurant, and service businesses, aid in the expansion of existing retail businesses, direct support to strategic areas, accommodate pop-up uses that may convert to long-term tenants, better support minority and women-owned businesses, and ultimately drive a healthy and strong storefront economy in Downtown Raleigh. More Details Here
The program is specifically intended to help new storefront businesses and expanding retail businesses with upfit and one-time standup expenses.
This funding opportunity offers reimbursement grants of up to $15,000, depending on location and business use. To support equitable growth for all in the downtown area, a Diverse Business Booster (DBE) of $2,500 is available for businesses with 50%-or-more ownership by individuals who identify as:
- Minority
- Women
- LGBTQ+
- Veteran
- A person with a disability
Grant applications will be processed by DRA staff upon receipt and reviewed for approval by DRA staff and an external review committee on at least a quarterly basis. Application submission deadlines and tentative committee review calendar are listed below. Final approval and grant agreement will be issued by DRA staff.
Now accepting applications for funding review. Interest Forms may be submitted on a rolling basis.
Program Objectives:
- Attract new businesses that provide needed/desired services or products within downtown to address demand of residents, employees and visitors, as well as increase foot traffic and create a viable commercial core.
- Stimulate private investment in retail within downtown through property improvement, business development or expansion.
- Contribute to the overall value of downtown by encouraging more retail, restaurant, and service businesses, which makes downtown a more vibrant, sustainable, livable place and adds value to other businesses and investments in downtown.
- Provide additional resources, access, opportunities, and pathways to entrepreneurship for Minority- and Women-owned businesses (MWBE).
- Direct additional attention and assistance to areas of downtown in need of more targeted, storefront-level, economic development support.
Program Details:
Grant funding provides financial assistance for build-outs, improvements, and renovations of storefront spaces and stand-up expenses associated with starting or expanding a storefront business in downtown.
The funding opportunity is geographically tied to business type, and competitiveness of application. Businesses with 50%-or-more ownership that self-identify as a Diverse Business Enterprise (DBE) qualify for additional funding. With maximum funding available per eligible business of up to $15,000. A 50:50 funding match is required for reimbursement amounts over $7,500.
Source: PEO Productions / PEO Productions
Apply For Grant Money To Update Your Downtown Raleigh Business was originally published on foxync.com
