Hello Alice & GEN announce third round of $5k-$25k grant opportunities for small businesses

Small businesses are the backbone of the American economy, driving innovation, creating jobs, and fostering a sense of community. However, they often face financial challenges that hinder their growth and potential. To support these businesses, Hello Alice and the Global Entrepreneurship Network (GEN) have joined forces with funding from Etsy and Progressive to launch Round Three of the Small Business Growth Fund. This program offers entrepreneurs a chance to secure grants ranging from $5,000 to $25,000, enabling them to achieve their business milestones and make a positive impact in their communities.

What is the Small Business Growth Fund

The Small Business Growth Fund is administered by Hello Alice and GEN and is sponsored by Etsy and Progressive. It is a program aimed at empowering entrepreneurs across the United States. By providing much-needed financial support, the program seeks to drive the growth of small businesses and foster economic development. One of the most enticing aspects of Round Three of the Small Business Growth Fund is the opportunity for entrepreneurs to secure grants that can be instrumental in realizing their business goals. The funding opportunities allows businesses to make investments, expand operations, or innovate in ways that may have been previously out of reach.

Eligibility Criteria

To be eligible to enter a business in the program, business leaders must meet certain criteria:

  1. Entrepreneurial Leadership: You must be the leading executive of your business, holding titles such as Founder, President, CEO, CFO, COO, or similar.
  2. Residency: You must be a legal resident of one of the fifty United States, the District of Columbia, or Puerto Rico.
  3. Age: You must be at least eighteen (18) years of age or older (nineteen in Alabama and Nebraska).
  4. Business Criteria: Your business must meet specific criteria as well:
    • Be a for-profit business located and registered in one of the eligible regions.
    • Have generated less than $1 million in gross annual revenue in 2022.
    • Demonstrate a commitment to community involvement.
    • Present a clear plan for how the grant funds would help achieve a significant business milestone.

Selection Criteria

Entries to the Small Business Growth Fund are evaluated based on the following criteria, each with its respective weight:

  1. Clarity and Feasibility of Plan for Use of Funds (30%): How well does the business articulate its plan for using the grant funds? Is the plan clear, achievable, and aligned with the business’s growth goals?
  2. Demonstrated Needs for Funds to Achieve a Business Goal or Milestone (40%): Is there a compelling case for why the business needs these funds to achieve its goals? Does the business demonstrate financial need effectively?
  3. Demonstrated Commitment to Community (30%): To what extent does the business showcase its commitment to making a positive impact in its community? Are there tangible examples of community engagement and support?

The above list is a summary of both eligibility and selection criteria listed on Hello Alice’s website. Be sure to check their official page at the link below to make sure your business is in compliance and will meet the criteria listed above.

https://helloalice.notion.site/Small-Business-Growth-Fund-2023-Application-Terms-and-Conditions-dbe6e1ff284640ff8b8b1cc8fc03956c

How to Apply

To get started, go to the official program website at https://helloalice.com/funding/sbgf. Follow the instructions listed on the website.

Remember that there is a limit of one entry per business and per officer. Multiple entries received from the same business or officer after the first one will be void.

In addition to financial support, grant recipients may also receive recognition on the Hello Alice and/or GEN platforms, providing them with exposure and networking opportunities.

As the application deadline approaches on October 27, 2023, entrepreneurs are encouraged to take advantage of this opportunity to propel their businesses forward. By applying to the Small Business Growth Fund, you can join a community of dedicated entrepreneurs working to strengthen the small business landscape and contribute to the growth and development of your community. So, mark your calendars, prepare your applications, and get ready to take your business to the next level with the support of Round Three of the Small Business Growth Fund.