Minority Business Enterprise Grant Program

The Minority Business Enterprise Grant Program is a local initiative aimed at supporting the sustainability and growth of Black- and Latinx-owned small businesses within Winston-Salem and Forsyth County, North Carolina. Administered through The Greater Winston-Salem, Inc. Foundation, a registered 501(c)(3) nonprofit organization, the program is designed to drive job creation, business retention, and economic advancement among historically marginalized communities. Eligible businesses may apply for grants of up to $25,000 to fund either specific business projects or general operating needs. Allowable uses include salaries, wages, lease and rent payments, working capital, and capital expenditures. However, funds cannot be used for loan repayments, bonuses, taxes, liens, judgments, or personal expenses. This grant is restricted to for-profit businesses that had been operating on or before January 1, 2024, with gross annual revenues under $1 million and between 1 to 25 full-time employees. Applicants must be Black- or Latinx-owned businesses and be physically located within Forsyth County. Required documentation includes an itemized budget for the grant request, a year-to-date 2024 profit and loss statement, a projected 2025 annual budget, the most recent W-9 tax form, and the latest business bank account statement. A detailed description of the funding request, including objectives, impact, goals, and an expected completion date, is also required. Applications will be accepted from August 26 through September 30, 2024. Submissions must be complete with all applicable tax and financial documentation. The Entrepreneurial Advisory Committee, comprising African American and Latino business leaders from the region, will review submissions for eligibility, evaluate potential impacts, and make final funding decisions. Applicants are typically notified of the outcome within 45 to 60 calendar days following submission. All awarded businesses must enter into a binding contract and comply with reporting obligations, including quarterly updates and a final summary evaluation within 90 days of completing the funded activity. Greater Winston-Salem, Inc. retains the right to audit fund usage and may require repayment if grant conditions are violated. The program includes additional support, such as technical assistance from the Small Business Center at Forsyth Tech and the Small Business Technology Development Center at Winston-Salem State University, and a one-year membership to Greater Winston-Salem, Inc. for awardees.

Submit complete documentation to avoid delays; clearly articulate project impact and use of funds; be prepared for audits and reporting