Grant Amount: $10,000 – $65,000
In February 2022, Wells Fargo announced a $20 million donation to the Houston Equity Fund to provide small business owners with new ways to grow and own more of their businesses. The Houston Equity Fund will distribute the funding in the form of grants towards the purchase of property, equipment, and other tangible assets, supporting economic development in underserved communities.
The purpose of the Open for Business Grant Program is to advance the mission of the Houston Equity Fund to enact transformational change by investing resources into organizations and initiatives that empower and uplift communities of color.
The application deadline is August 13th, 2022 at 11:59 p.m. E.T
HOW TO QUALIFY
To be eligible to apply for funding, the small business must meet ALL criteria:
• Business established and registered with State of Texas prior to December 31, 2021
• Business location is within the City of Houston
• Primary business location is in and impacting a vulnerable community (see CDC Social Vulnerability Index Map, eligible communities are in blue with an SVI score of 0.5 or higher)
• Have 1- 50 employees, including the owner, full-time, and part-time employees and 1099 contractors engaged in an ongoing way to support your business
• 2021 Annual Gross Revenue of $1,500,000 or less
Eligible business type: sole proprietorship, limited liability company (LLC), corporation, partnership