Small Business Investment Grant: RFP #23-02

Washington State Department of Commerce • Community Reinvestment Project


Updates

October 1, 2024

After reviewing over 450 applications, 40 small businesses and nonprofits —predominantly owned and operated by individuals from Black, urban Indian/Tribal, and Latine communities— have been selected to receive the Small Business Investment Grant. Read the full news release and find additional supports for small businesses.

July 29, 2024

Due to the volume of applicants, and working to ensure there is enough time for each to be thoroughly evaluated, we have extended the evaluation periodThis extension will result in the anticipated award notification moving to the first week in September.

We apologize for the delay and adjustment to the previously stated timeline. With so many well-deserving applications submitted by our small business community, and only 40 grants to award, we want to honor the time and effort spent by each of you by dedicating adequate time to the review process.


Summary

The Small Business Investment Grant, funded by the Washington State Department of Commerce’s Community Reinvestment Project, aims to promote equity for businesses in Seattle-King County, with a focus on those 51% or more owned and operated by individuals from Black, urban Indian/Tribal, and Latine communities. Funds from the grants can be used for a variety of purposes, including capacity building and growth, sustainability efforts (environmental, financial, and social impact), hiring (especially to enhance workforce diversity), retention, and staff training. The overarching goal is to ensure that historically marginalized communities gain equitable access to resources, thereby promoting broader community development and economic resilience.

Objective

The focus of this opportunity aims to rectify the disproportionate impacts of historical criminal laws and penalties associated with the “War on Drugs.” Applicants can request up to $15,000, and awardees will receive not only financial support but also support in the form of coaching, consulting, and/or connections to resources to enhance the long-term impact and sustainability of their businesses. This holistic approach is designed to foster lasting success and resilience for small businesses in King County.

The grants intend to:

  • Provide financial support of up to $15,000 to eligible small businesses and nonprofits to address identified needs.

  • Enhance the long-term impact and sustainability of these entities through coaching, consulting, and/or resource connections.

  • Promote workforce diversity and worker well-being by supporting hiring and retention efforts.

  • Strengthen business capacity and growth.

  • Encourage sustainability initiatives that cover environmental, financial, and social impact dimensions.

Read more about eligibility in the Frequently Asked Questions below and apply online.

 

Documents

Timeline

  • Application Opens: June 10, 2024

  • Application Assistance Calls: June 18, 2024 & July 1, 2024

  • Last Day to Submit Questions: July 7, 2024

  • Applications Due: July 14, 2024 by 11:59 PM PDT

  • Anticipated Award Notification: *Updated* First week in September

  • All Applicants Notified of Status: September 13, 2024

 

Frequently Asked Questions (FAQ)

Last updated: July 8, 2024

Click through the questions below. If your question is not listed here or in the Frequently Asked Questions document, please send it to athornton-west@seakingwdc.org. We update our FAQ section weekly with all questions and answers received.

Virtual Bidders’ Conference & Application Assistance Calls

The Virtual Bidders’ Conference gives prospective applicants an opportunity to learn about the grant qualifications and how to apply for this funding stream, and encourages partnerships as we look towards procuring funds through this open, public process. Our goal for this workshop include:

  • Background on funding requirements for the Washington State Department of Commerce Community Reinvestment Project

  • An overview of the requirements, scope, logistics of the grant application process

  • An understanding of how your organization can participate in the Seattle-King County workforce system and potentially apply for these specific funds

  • Opportunity to ask application specific questions

You can view the calls from June 18 and July 1 below or on YouTube. For questions not answered in the Bidder’s Conferences, please email athornton-west@seakingwdc.org.

Small Business Investment Grant - Bidder's Conference - June 18, 2024

Small Business Investment Grant - Bidder's Conference - July 1, 2024

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Small Business Workforce Accelerator Grant: RFP #24-01

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