Small Business Investment Grant: RFP #23-02
Washington State Department of Commerce • Community Reinvestment Project
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
Scoring Guide (updated June 11, 2024)
Frequently Asked Questions (last updated June 24, 2024)
Informational Flyer (updated June 11, 2024)
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 PST
Anticipated Award Notification: August 23, 2024
All Applicants Notified of Status: September 13, 2024
Frequently Asked Questions (FAQ)
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.
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The CRF Small Business Investment Grant Opportunity is open to small businesses and non-profits, defined as an entity with 50 or fewer employees, located in King County. Priority is given to organizations that are at least 51% owned or operated by individuals from Black, urban Indian/Tribal, and Latine communities. Others that are invited to apply are business owners who are refugees or immigrants or from other racially and ethnically marginalized communities.
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Grant funds must be used for activities or purchases related to capacity building/growth, sustainability, hiring, retention, or staff training. These funds should directly contribute to the development and enhancement of the organization’s operations and impact, and support their ability to hire staff, train and retain employees, and/or increase their workers’ earnings, opportunities and job quality.
Grant funds cannot be used for working capital, land and building acquisition, or relieving existing debt.
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To apply for the CRF Business Investment Grant Opportunity, please visit our website at https://www.seakingwdc.org/funding-blog/small-business-investment-grant. You will find the link to the application form with detailed instructions on how to complete and submit your application.
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The application requires basic organizational information, a description of the proposed activities, a budget detailing how the grant funds will be used, and any additional documentation relevant to your proposed project. We will also require a valid business license, IRS Form W-9 and budget document to be uploaded into the application. We will accept State/Local Tribal documents.
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Grant applications are evaluated based on several criteria including ownership representation, alignment with grant purpose, impact and sustainability, and community and workforce benefit. Each criterion is assigned a specific point value, and applications are scored accordingly.
Please note that applications that are not complete and do not contain all required documentation and information will not be scored. You will receive an email, to the one listed in your application, notifying you that the application was incomplete and requesting the missing information.
Scoring criteria can be downloaded/viewed on our website https://www.seakingwdc.org/funding-blog/small-business-investment-grant.
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Yes. We will have two application assistance webinars. They are listed below:
If you are in need of other application assistance or an accommodation for completing the application, please email us at athornton-west@seakingwdc.org
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We recommend carefully reviewing the grant guidelines and application instructions before submitting your application. Please ensure that your proposed activities align with the grant priorities and that all required documentation is provided to facilitate the review process.
Additionally, businesses and non-profits awarded a grant will be engaged in coaching, consulting and/or resource connection supports as they implement awarded funds. Awardees will also be asked to share data regarding the impact of these funds which may be requested in the form of surveys, interviews and/or success stories.
A planned and actual budget for funds, with accompanying narratives, will also be required.
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Yes, we encourage applicants to reach out if they have any questions or need assistance with their applications. Please submit all questions to us at athornton-west@seakingwdc.org and we will update this Q&A document 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
Register for the next virtual Application Assistance call on Monday, July 1 at 11 AM.
You can view the June 18, 2024 call below or on YouTube.
Small Business Investment Grant - Bidder's Conference - June 18, 2024