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Hello Alice is continuing its commitment to serving underserved entrepreneurs. In partnership with the Global Entrepreneurship Network (GEN), Hello Alice has officially launched the next round of Baltimore Gas and Electric Company’s (BGE) Energizing Small Business grant program. The initiative offers $20,000 grants to central Maryland businesses to help them succeed and thrive, according to the Hello Alice website. No stranger to empowering local small businesses, the BGE Energizing Small Business grant deployed more than $2.5 million in grants to 129 small businesses in central Maryland in 2023. “When small businesses thrive, they become powerful economic engines, creating even more opportunities in their communities and we are so pleased to celebrate today’s grant recipients,” said BGE President and CEO Carim Khouzami in the 2023 grant announcement. “Since 2019, BGE has granted over $13 million to small businesses throughout Central Maryland. This is in addition to other small...
Those seeking funding for their small business have the debt-free option of applying for startup business grants or small business grants. These grants are typically awarded by government entities, private organizations or corporations and, unlike loans , are not expected to be paid back. There are incentives for these companies and organizations to award these grants, as the new businesses could create economic growth or support a certain cause/research topic (like social or environmental) that one of these entities is interested in. These grants are highly competitive and have very specific requirements that must be met before they are awarded. Most likely, applicants will need to prepare by verifying the eligibility criteria, funding amount, application deadlines and any restrictions of a grant that their business aligns with. Also, ensuring the applicant’s business is specific enough to the grant’s requirements is very important . Doing so ensures the applicant has a better...
Outside of the NBA draft and Summer League, basketball fans have little to no on-court action to look forward to during the off-season. However, that does not mean that excitement around the league is entirely on pause. The summer months are typically when players and franchises make impactful decisions about their futures. And the Boston Celtics have answered one of the fan’s most pressing questions by resigning shooting guard Jaylen Brown.
The fight for the NBA Championship is underway as the Golden State Warriors and the Boston Celtics played Game 1 on June 2. Following the Warriors’ loss, power forward Draymond Green was adamant about his perspective of “We’ll be fine.” The instance of his spirit not being easily shaken is reminiscent of another ambitious take he shared back in 2019.
Draya Michele — model, swimwear designer, actress, and frequent Twitter trending topic — has some questions, and we’re here to answer them. In a tweet, Michele called out her “scamming scammers” and asked about the steps to paying back an SBA (Small Business Association) loan, under which falls other loan types like the aforementioned PPP loans. Hey I got a question for my little scamming scammers. Lol. If you get a SBA loan and it’s under a business name what are the steps to paying it back and if it is under the business name and you go into default does it go under your personal credit? — Draya Michele (@drayamichele) March 17, 2022 As one might imagine, the comments did not go over well, with one alleged former employee of the SBA summing up the answer as succinctly as the social platform would allow. I worked for SBA for 3 years. With a question like this, you giving them every reason to look at you and they will — The Cowboy Isley (@HankorJefe) March 17, 2022 Fortunately...
Ciearra Baker probably never thought she’d become known as the “Vending Machine Mom” when she made a Christmas Eve post on Facebook. The single mother from St. Louis, MO, quickly went viral when she posted a photo of her children with a rather unconventional “present.” “Let’s not handicap these kids making their lives easy,” wrote the woman who would become known as the Vending Machine Mom. “I’m not buying toys my kids most definitely will understand. Life is not easy and making the right choices with money & etc… So I came up with the idea to invest in a vending machine for the kids as Christmas gift #Young bosses in the making 👌💪🏽👏🏽🤑 MERRY XMAS!” Some commenters thought the idea was a good one. “I love this so much! I started selling candy at school when I was little to make my money and now I’m 24 and have a small business and I love it!” wrote one woman. Others, however, weren’t as welcoming to the idea. “Not you shaming other parents for getting their kids gifts instead of...
A Black-owned nail salon has been featured in Facebook’s national small business campaign. BlackNews is reporting that the September Nail Salon in Germantown, TN, has been chosen to be a part of the social media giant’s “Good Ideas Deserve to Be Found” campaign. The campaign, which began on June 9, will run for the remainder of the summer. “We are grateful to Facebook for this opportunity,” said Jennifer Purnell, the owner of the Black-owned nail salon, in a statement provided to the outlet. “In addition to being a part of this campaign, we also received their Small Business Grant and met with members of the U.S. Congress to discuss current issues affecting small businesses. Facebook has been instrumental in helping us grow and promote our business. We anticipate it will become even more integral to our business as we seek to grow the reach of our hand-crafted bath and skincare product line, September BODY, with the launch of a new subscription service.” September Nail Salon also...
Peanut, a women’s social network, has announced that it has launched a new microfund. According to TechCrunch, the StartHER microfund is designed to invest in pre-seed startups led by women. Officially, the outlet confirms that the microfund looks for pre-seed startups led by “historically excluded founders of all ages, life stages, ethnicities and sexual orientations.” The pre-seed funding round, typically called the “friends and family round” (so named because that’s who normally provides the funding for the startup), is often the most difficult to get funded in general. This pre-seed round becomes doubly difficult to fund when the founder is from a historically excluded group. And this, according to the Peanut CEO, is the gap that they’re looking to close. “Peanut’s StartHER fund opens the door to founders looking for that early funding. It’s our opportunity to finally level the playing field. We want to be the family these founders can turn to, opening the door to our...
There are many small-business grants specifically catered to women business owners, and we’ve compiled a list of our top recommendations. The number of women-owned businesses in the U.S. has grown 45 percent since 2007, which is five times faster than the national average. As the number of women entering the small-business scene has increased, so have financing options specifically for women business owners. We know how much time can be put into grant applications, so we’ve done some of the research for you. Recommended Databases and Foundations for Women We recommend you leverage free databases and search tools to ensure your search is entirely comprehensive. Although we analyzed more than 100 small-business grants, other grants may fit your business perfectly. GrantsforWomen.org Grantsforwomen.org is the one of the most comprehensive search tools for grants and challenges specifically for women. The site doesn’t have the easiest filtering tool, but it does list dozens of grants...
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners. Converting a for-profit business to a nonprofit entity could be a smart move if charity and community impact has become your focus as a business owner. But making the change requires more than applying for tax-exempt status. The process would largely depend on your state’s laws regarding business conversions, and not every company can become a nonprofit organization without a good reason for doing so. Only certain types of businesses can turn into a tax-exempt entity, a procedure that requires filing paperwork with state organizations and the IRS. Keep reading to learn what it takes to turn a for-profit enterprise into a nonprofit organization, and if it’s the right move for your business. In this guide, we’ll cover: Reasons to convert a for-profit business to a nonprofit Converting...
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners. Converting a for-profit business to a nonprofit entity could be a smart move if charity and community impact has become your focus as a business owner. But making the change requires more than applying for tax-exempt status. The process would largely depend on your state’s laws regarding business conversions, and not every company can become a nonprofit organization without a good reason for doing so. Only certain types of businesses can turn into a tax-exempt entity, a procedure that requires filing paperwork with state organizations and the IRS. Keep reading to learn what it takes to turn a for-profit enterprise into a nonprofit organization, and if it’s the right move for your business. In this guide, we’ll cover: Reasons to convert a for-profit business to a nonprofit Converting...
Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication. When you need funding for your small business, receiving money you don’t have to pay back would be the best case scenario. Various organizations award grants to small businesses without expectations of repayment. The catch: steep competition and stringent standards. Government grants for small businesses, as well as corporate and private grants, are highly sought after, and are given to businesses that meet specific eligibility criteria. The application process can be time-consuming and competitive, but your efforts could pay off if your business is selected. We’ll help you better understand what types of small business grants you may be...