The B:Side Small Business Growth Grant will provide $2,500 in unrestricted funding to BIPOC-led small businesses, with a focus on serving and empowering low-income and low-wealth entrepreneurs. The grant is designed to support businesses that are often overlooked, ensuring they have the capital needed to sustain and grow their operations.

Eligibility Criteria:

BIPOC-Led Business – At least 51% owned and led by a person(s) who identifies as Black, Indigenous, or a Person of Color. Priority will be given to low-income and/or low wealth entrepreneurs.
Small Business or Sole Proprietorship – The business must be a for-profit entity with fewer than 5 employees.
Location – Business must be registered and located in Arizona, Colorado, New Mexico or Utah, with a Good Standing with the Secretary of State.
No Time in Business Requirement – Businesses do not need to meet any time in business thresholds to qualify.
No Revenue Minimums – Businesses do not need to meet any revenue thresholds to qualify.
No Credit or Collateral Requirements – Applicants will not be subject to credit checks or collateral requirements.
Simple Application Process – A short, straightforward application with minimal documentation.
No Restricted Use of Funding - Funds can be used flexibly for business expenses, including but not limited to: Rent or utilities; Equipment or supplies; Marketing and outreach; Hiring or retaining staff; Professional development; Emergency expenses

Application Process:

Online Application – A short, accessible online form with basic business details and a brief statement on how the grant will support the business.
Rolling Deadline & Quick Review – Applications reviewed on a rolling basis, with responses within 2-3 weeks of submission.
Pre-Grant Impact Assessment - Awardees will need to complete a Pre-Grant Assessment about themselves and their business.

Grant Conditions / Impact Metrics & Reporting:

To track the impact of the grant, recipients will complete a Post-Grant Impact Assessment 30-days (mid-April) and 60-days (mid-May) post-funding. These updates will be light-touch and designed to avoid burdening recipients. However, they will be in-depth enough for B:Side Fund to provide the following metrics to the ICC.
To ensure transparency and demonstrate the effectiveness of the program, B:Side Fund will provide impact reports to the ICC at 30, 60, and 90 days post-grant disbursement. These reports will highlight the program’s reach, grantee progress, and key outcomes.

30-Day Report: Initial Implementation & Reach (End of March)

Total number of grants awarded and demographic breakdown of grantees (race/ethnicity, industry, geographic region).
How grantees are using funds (aggregated data based on grantee feedback).
Initial qualitative feedback from grantees on how the grant has helped address immediate needs.

60-Day Report: Early Outcomes & Business Growth (End of April)

Early indicators of business growth (e.g., % of grantees reporting increased revenue, new customers, expanded services).
Grantee satisfaction (feedback on program application and selection process)

90-Day Report: Long-Term Impact & Sustainability (End of May)

Sustained business impact – % of grantees reporting business stabilization or growth.
Economic impact – New jobs created, new partnerships, or community engagement resulting from the grant.
Testimonials & Success stories – Short profiles of 2-3 grantees illustrating the impact of the funding.
Recommendations for future funding rounds – Insights on how to scale or refine the program for greater impact. Since this is a pilot program, we would hope to continue it in the future by approaching other potential funders.

Data Collection Methods

Surveys – Sent to grantees at each reporting milestone.
One-on-one check-ins – Brief 1:1 calls with grantees.

Additional Grantee Support:

To maximize the effectiveness of the funding, grant recipients will also receive optional support:

Financial & Business Coaching – Access to B:Side U free workshops and B:Side Connect office hours with our Senior Community Development Officer (Spanish-speaking)
Personal Financial Literacy and Money Management Education - Access to 1:1 coaching sessions through our mission-aligned, non-profit partners.
Promotion & Visibility – Featuring grantee businesses on social media and newsletters to expand their reach.

Use of Funds:

$20,000
- $12,500 grant funds to small businesses
  - 5 businesses will be awarded $2,500 in flexible funding (they can spend funds as they see fit)
- $7,500 to cover staff time to operate grant program, collect & analyze impact; and employ Spanish-speaking underwriter