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Downtown Davenport launches Grant Program for Entrepreneurs

by opportunitydiary

Application Deadline: 04/15/2022

The Downtown Davenport Partnership (DDP) has launched a new Entrepreneur Grant Program for early-stage business owners. Grants of up to $5,000 can be used for planning, locating and launching a new storefront or office in downtown Davenport. And half of the $20,000 grant pool available will be awarded to entrepreneurs representing minority-owned businesses to elevate the enriching contributions they make to everyone who lives, visits and works in the city’s core.

“The backbone of our community is small businesses and entrepreneurs. We wanted to launch a grant program specifically for people at the infancy of getting their business off the ground by creating an incentive to locate downtown,” said DDP executive director Kyle Carter.

Strengthening and expanding the minority entrepreneurial community is a priority within the Downtown Master Plan and the new grant program will remove barriers and foster greater economic inclusion in the city’s core.

Eligibility

  • Must be a startup company in initial stages of business
  • Locate within the downtown Davenport SSMID.
  • To be eligible for earmarked funds, applicant must be a minority or woman and the majority
    owner of a for-profit new or expanding small business, as defined by the U.S. Small Business
    Administration

Benefits

  • DDP grant funding per business will be no less than $2,000, but no more than $5,000. Total
    grant funding available for FY22 is $20,000
  • DDP has earmarked $10,000 of grant funding to encourage entrepreneurs representing minority-owned businesses to consider downtown locations and apply for funding assistance
  • All grant recipients must locate their business within downtown Davenport SSMID; DDP staff will provide guidance on available locations
  • Submittal of an application does not guarantee funding assistance. Funding is awarded through a competitive process and on a rolling basis until dollars are depleted
  • Funding can be used for relocation expenses, operating or capital startup costs
  • DDP Business Retention & Recruitment Committee will review grant applications

Application Procedure

Grant applications are available now and will be awarded on a rolling basis. Awards will range from $2,000 – $5,000 and can be used for relocation, operating or capital startup costs.

Official Website: Downtown Davenport launches Grant Program for Entrepreneurs

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