Minority-Owned Small Business Grant Program Launched In Alexandria

ALEXANDRIA, VA — The City of Alexandria is launching a grant program to support Black, indigenous and people of color-owned businesses.

The grant program seeks to address access to capital, a common hurdle faced by minority-owned businesses. The program will be open to businesses in the City of Alexandria with at least 51 percent Black, indigenous and people of color ownership. Businesses must be locally-owned and operated with up to 100 employees and intend to operate in the city through at least Dec. 31, 2023. Businesses that did not receive federal or city COVID-19 grants will be prioritized.

Grants between $1,000 and $7,000 will be awarded to eligible businesses on a first come, first served basis. The grants may be used for business expenses such as working capital, inventory costs, rent, taxes, marketing efforts, technological advancements, business consultants, business growth and more.

Applications will be accepted from Jan. 26 to Feb. 10. Notification of grant awards will be made in March, followed by distribution of funds in April.

The grant program is part of a BIPOC Small Business Program seeking to retain and grow existing businesses, recruit new businesses and assist with start-up activities. Based on feedback from Black, indigenous and people of color-owned businesses, the city will provide support in three key areas: the need for networking, resources and capital. City Council set aside $500,000 in contingent reserve funds for minority business incubation in the fiscal year 2023 budget and released the funds for use in October.

Along with the grant program, the city is providing networking opportunities, considering an incubator or business accelerator program to provide technical assistance and mentorship and offering access to existing resources from the city and partners.

See more about the initiative at www.alexandriava.gov/BIPOC.