The Stavros Niarchos Foundation (SNF) Small Business Growth & Recovery Fund
About the SNF’s Support of the USA’s Small Businesses
The National Community Reinvestment Coalition (NCRC) and the Stavros Niarchos Foundation (SNF) announce a new initiative to help address longstanding challenges that small business owners face in accessing capital, including gender and racial inequality and other socioeconomic barriers. These barriers have been worsened by the COVID-19 pandemic.
The new SNF Small Business Growth & Recovery Fund is managed and implemented by Equivico by NCRC, and the two organizations are collaborating to build upward mobility for all entrepreneurs regardless of race, ethnicity or socioeconomic status. SNF is the sole funder of this initiative, while implementation is handled by NCRC.
The SNF Small Business Growth & Recovery Grant Mission
The Fund’s mission is to help U.S. small businesses—especially those owned by people of color, women, and veterans and those in lower-income communities—find their footing in a challenging economy. The program will offer 65 awards of up to $20,000 to U.S. small businesses, which do not need to be repaid. These awards will be accompanied by complementary training and mentorship designed to help catalyze entrepreneurial efforts and stimulate innovation and growth amidst the pandemic. Nonprofit organizations are not eligible. In spring 2021, the SNF fund received over 4,000 applicants, and closed on March 19, 2021.
READ ABOUT THE RECIPIENTS HERE.
If you applied for a grant, please check your email for updates. Please don’t contact the Stavros Niarchos Foundation (SNF), NCRC or Equivico regarding a new application.FAQ guide.
THE SNF SMALL BUSINESS GROWTH & RECOVERY FUND GRANT DECISION FACTORS
The grant program focuses on awarding businesses within traditionally underserved communities. Some of the factors driving decisions include whether the business is located in a low- or moderate-income census tract, is owned in whole or in part by people who identify as women, racial or ethnic minorities, or veterans. Qualified businesses must have been operational for at least one year and generate no more than $3 million in gross revenues.