The Northern Kentucky Chamber of Commerce, in collaboration with the Duke Energy Foundation and Blue North, is offering grants aimed at supporting minority-, women-, and veteran-owned small businesses in Northern Kentucky. The total funding available for this initiative is $50,000, with each of the partnering organizations contributing $25,000. The grants will be distributed in amounts ranging from $1,000 to $10,000, providing financial assistance to eligible businesses to help them grow and thrive in the local economy.
The primary purpose of these grants is to enhance the capabilities and sustainability of small businesses owned by minorities, women, and veterans. The funding is intended to support a variety of business needs, including improvements to physical spaces, technology upgrades, talent acquisition, and professional development. This initiative reflects a commitment to fostering diversity and inclusion within the business community in Northern Kentucky.
Eligible applicants for the NKY Small Business Grants must be small businesses with 50 or fewer employees and must be customers of Duke Energy. The businesses must be located in Boone, Campbell, or Kenton counties. The funds can be utilized for various expenditures, such as adapting and beautifying physical spaces, enhancing technology, sourcing talent, and covering job posting fees. However, expenses related to payroll, incentive pay, rent, and utilities are not eligible for funding.
The funding for this grant program is sourced from Blue North's Northern Kentucky Entrepreneurship Fund, which was established in 2023 to support local entrepreneurs and organizations. This fund has received backing from the RC Durr Foundation and the Truist Foundation, further emphasizing the collaborative effort to bolster the entrepreneurial landscape in Northern Kentucky.
To apply for the grant, interested businesses should prepare to meet specific submission requirements, which will be detailed in the application process. While the exact application questions have not been specified, applicants can expect to provide information that demonstrates their eligibility and outlines how the funds will be utilized to benefit their business.
The evaluation criteria for the grant will likely focus on the potential impact of the proposed use of funds, the alignment with the program's objectives, and the overall viability of the business. The timeline for the grant application process indicates that the deadline for submissions is set for October 1, 2024.
For further information regarding the grant, including specific application details and updates, interested parties can visit the Northern Kentucky Chamber of Commerce website. The contact person for inquiries is Nancy Spivey, who can be reached via email or phone for any questions related to the grant application process.
