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NEW grant program, Magic City Match, helps Birmingham’s Black-owned businesses thrive
Magic City Match, a new grant program funded by Prosper Birmingham, is distributing $500K to Black-owned businesses in Birmingham. Applications are open from February 24 to March 4. Keep reading to find out who is eligible to apply and why this new program matters.
Magic City Match
Magic City Match is all about increasing the chances for Black-owned businesses to thrive. They offer business competency courses, provide access to capital and give new market opportunities to Black business owners with brick-and-mortar locations in Birmingham.
This is the first year this program is up and running. For their inauguration, Magic City Match will reward grant packages and business development guides to 13 Black-owned businesses.
This awesome program is presented by :
Do you qualify?
To qualify for this grant program, you must
- be a resident and/or owner of a biz physically located in the City of Birmingham
- be 51% controlled by one or more individuals racially identifying as Black
- currently located in, or desire to lease or own, a brick and mortar within Birmingham city limits
Apply for the grant from Feb. 24 to March 4, 2022.
“While technical assistance is always needed, there comes a point for any small business where cash is required to move forward, whether for property improvements, down payments on property purchases or architectural services. This program ensures Birmingham’s Black business owners and entrepreneurs can get the financial boost they need to stabilize and scale!”
Torin Brazzle, IGNITE! Alabama’s Executive Director
The process
After the application passes the deadline, a Community Selection committee will pick 25 individuals to participate in an 8-week Business Academy. the participants will be announced on March 28.
The cohorts who complete the Academy will present to the Committee for the capital award. A total of 13 awards will be given out:
- 10 grants of $25K
- 2 grants of $50K
- 1 grant of $100K
The grant winner will be announced on June 13, 2022.
We’re excited to see this program make Birmingham’s businesses more inclusive.
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