South St. Pete CRA Microfund Program Opening Application Period

ST. PETERSBURG, FL — The city will reopen the application period for the South St. Petersburg CRA Microfund Program starting Dec. 14.

The program provides businesses located in the South St. Petersburg Community Redevelopment Area (CRA) with funding, as well as personalized capacity building through education, mentoring and networking, according to a city news release.

This allows businesses within the South St. Pete CRA to make improvements without having to provide upfront capital.

“Strategic financial support and capacity building for small businesses is key to our plan for equitable economic development,” Mayor Kenneth T. Welch said. “We know from the first round of South St. Pete CRA Microfund recipients that this program is making a difference. We encourage more small business owners to take advantage of this opportunity that could take them to the next level. When they’re successful, all of St. Pete wins.”

This will be the second application period for the microfund program.

Earlier this year, the city awarded $440,000 to more than 50 diverse, small businesses and startups within the South St. Petersburg CRA. More than $1.35 million will be distributed over multiple cohort periods in the coming months.

"As a growing business, sometimes it's hard to receive capital, but partnering with the City has been a big help," Katrina Jenkins of Pathways Early Learning Academy, Inc. said. "Through the microfund program, they provided the educational piece, mentorship, and networking with other businesses, which is priceless."

The upcoming application period will be open Dec. 15 through Jan. 15.

Those interested in applying can find the application once it’s live, as well as resources, FAQs and toolkits at www.stpete.org/Microfund.

The Greenhouse in St. Petersburg will offer resources to help applicants through the process, including Microfund 101 Webinars and Workshops offered in person on Nov. 29 and Dec. 7, and in person and virtually on Nov. 27 and Dec. 4., and virtual office hours offered on various dates Nov. 29 through Dec. 13.

Eligible applicants from this application period will be placed into three upcoming cohorts next year, the city said. Each cohort will hold 45 businesses, totaling 135.

Businesses will be placed in these cohorts on a first-come, first-placed basis until all spots are filled. Once the maximum number of participants is reached, remaining applicants may apply for a future funding round. A wait list will also be created to fill spots that may become available.

To be eligible for a microfund grant, a business must have been located in the South St. Petersburg CRA for at least six months, the city said.