Birmingham City Council pools funds to assist small businesses

Here’s something you don’t see everyday: Five Birmingham City Councilors pooled their office’s American Rescue Plan Act funding to support the upcoming Penny Foundation’s 2024 Future Forward Grant Cycle. 

Birmingham City Council pools resources

Council President Darrell O’Quinn, President Pro Tem Wardine Alexander and Councilors Clinton Woods, Crystal Smitherman and LaTonya Tate contributed $27,500 from their office’s American Rescue Plan Act funding to The Penny Foundation grant cycle.

The mission of the initiative is to assist small businesses who experienced negative economic impacts from the COVID-19 public health emergency.

The Penny Foundation will disperse more than 11 business grants per district in contributions of $1,000 and $2,500 to each organization. Grant award winners will be announced on February 29th. 

“Small businesses are the heartbeat of our economy and the cornerstone of the city. As a small business owner myself, I understand that at the beginning of the calendar year, this is the hardest and slowest time for businesses. Give them support, especially minority businesses that historically have had a challenging time getting small business loans and grants from banks and other forms of resources — I’m really excited to support the businesses in District Six. I applaud my colleagues. This is a group effort that we are trying to do”

~City Councilor Crystal Smitherman

Grant eligibility 

To apply for a grant, visit futureforwardfund.org

Eligible business applicants for the Future Forward grant must:

• Own a small business with a valid business license in Birmingham’s District One, District Five, District Six, District Seven or District Nine.

• Be currently active + open for business, and able to show proof of operation before February 15, 2020.

• Agree to implement proposed services or upgrades within one month of the awarded grant.

• Have less than 25 employees (micro-business or small business).

• Agree to use an approved/licensed professional consultant and/or other identified professional service provider.

• Stay in business for one year after receiving the grant or pay the appropriate pro rata share of the funds back to Penny Foundation.

Penny Foundation is fostering innovation + sustainability

“The Future Forward business grant cycle plays a crucial role in fostering innovation and sustainability. It’s not just about financial support; it’s an investment in the potential of organizations to make a lasting impact. The grant cycle allows us to identify and empower businesses that align with our mission, driving positive change in our communities. It’s a partnership beyond funding – it’s about collaboration, growth and creating a meaningful difference together.”

~ Lyord Watson, Founder, The Penny Foundation

Award winners will be announced at a reception for Future Forward on February 29th. For more information, please visit www.futureforwardfund.org