The beauty industry is growing rapidly. And part of that growth involves supporting diversity. Recently, a major beauty retailer announced a grant program with this goal in mind. Read about this and other small business grant opportunities in the list below.
Sephora Beauty Grant
??Cosmetics retailer Sephora is partnering with the Fifteen Percent Pledge to present a $100,000 to a Black business owner in the beauty industry. The Sephora Beauty Grant aims to help spur growth for a Black entrepreneur in this industry where they’ve been historically underrepresented. To qualify, the business must be operational for at least two years and have annual revenue of at least $100,000. December 18 is the deadline for applications.
LSU BRIDGE Grant
Louisiana State University recently received a $600,000 grant from The U.S. Economic Development Administration. The school plans to use those funds to boost technology entrepreneurship through the Baton Rouge Initiative for Development, Growth and Entrepreneurship, or BRIDGE, program. BRIDGE offers technical support, mentorship services, and executives in-residence to startups throughout the area. And LSU is matching these grant funds, so the program will receive a total of $1.2 million over three years.
Luzerne County Small Business Sustainability Grant Program
Luzerne County, Pennsylvania is now accepting applications for its Small Business Sustainability Grant Program. The program is funded using $5 million of the county’s federal American Rescue Plan allocation. Eligible businesses can apply for one-time grants of $5,000 or $10,000, depending on each company’s employee count and funding availability. To qualify, businesses must be for-profit and have fewer than 50 full-time equivalent employees. County businesses must also be independently owned and operated, have been in business since at least December 31, 2019, and have less than $15 million in annual gross revenues as of 2022.
St. Clair County Emerge Fund
St. Clair County, Michigan’s Economic Development Alliance recently received a $2.5 million grant to support local business initiatives. The Michigan Economic Development Corporation awarded the grant through its Small Business Support Hubs program, which also supports other local business centers and resources throughout the state. In St. Clair County, funding will be used to support counseling services across Region 6, the Port Huron SmartZone Hub, the affiliated Underground Incubator, and more business programs. Additionally, the EDA of St. Clair County plans to expand its local Emerge Fund to Region 6 using about $426,000 from this grant. Direct grants should be available to local businesses through the Emerge Fund and other potential small business grant initiatives over the next three years.
Multnomah County Re-Beautification Grant
Multnomah County, Oregon is launching another round of its Re-beautification Grant program. Through the program, eligible businesses can get up to $5,000 to repair damage caused by vandalism. The program is open to businesses operating east of Interstate 205 that experienced vandalism after July 1, 2022. The County is partnering with Micro Enterprise Services of Oregon to facilitate the program and distribute funds. The organization provides a wide range of programs and services for small businesses from lending to educational services.
New Bedford NB100! Program
The New Bedford Economic Development Council in New Bedford, Massachusetts is currently accepting applications to its NB100! small business grant program. Through the program, eligible businesses in the city can apply for grants of up to $10,000. Before applying, businesses must complete technical assistance programming provided by select NB100! Partners. November 30 is the deadline to apply.
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This article, “Black-Owned Beauty Businesses Can Apply for $100,000 from Sephora” was first published on Small Business Trends
Sephora, a major beauty retailer, has announced a grant program for black-owned beauty businesses. Read for this and other business grants.Read MoreSmall Business News, Small Business GrantsSmall Business Trends