WS Chronicle

The Minority Business Enterprise (MBE) grant fund is now open for applications for the 2021 round of funding. The MBE  grant fund launched last year with the goal of assisting Black and Latinx-owned small businesses in Winston-Salem and Forsyth County with COVID-19 recovery. The fund  provides businesses with up to $25,000 and is focused on improving business success, job  retention, and job creation.  

The application window for the 2021 grant cycle is Oct. 8-Nov. 12, 2021. 

Businesses must be located in Forsyth County and in operation as of January 1, 2021 to qualify. Businesses with 1-25 full-time employees and under $1 million in gross annual  sales are eligible, to ensure effective impact to small and local businesses.  

The MBE grant program is managed by the Entrepreneurial Advisory Committee, consisting of Black and Latinx business leaders in Forsyth County. This committee will  review applications, provide technical assistance, and determine grant recipients.  

Committee member Bill McClain says the grant provides an equitable resource to local  entrepreneurs whose businesses have been affected by COVID-19. “With the MBE grant  program, our community is stepping up to support local minority entrepreneurs and  funding the belief that their business success makes a great positive impact across the  community. In addition to providing financial grants, the MBE grant program also helps business owners tap into other resources that can help them grow their business and  create and retain jobs. We’ve seen through the first cohort that this grant is successful in  meeting those goals.” 

Ja’Net Adams is a financial literacy consultant and owner of EMACK Consulting. She  says the grant she received in 2020 helped her to reach more clients. “With funding from  the MBE grant, I was able to hire an assistant and also increase my advertising to raise  awareness for my company. The grant helped me grow my business, allowing me to share financial planning and advice with even more people around the world.”  

In late 2020, 21 businesses received a total of $229,000 in the initial launch of the grant  program. A total of $1.2 million has been pledged to the fund to-date.  

Greater Winston-Salem, Inc. provides the grant program with financial oversight and  organizational structure. President and CEO Mark Owens says “investing equitably into  local businesses is one of the best ways to fuel our economic recovery from the pandemic.  By offering minority business enterprises a local funding source, our community is giving local entrepreneurs a resource that many other communities don’t offer – and we will all  reap the benefits of that by fueling a thriving small business ecosystem.”  

Businesses interested in learning more about the program or applying for funds can visit  the link below. Application forms and instructions are available in English and Spanish. Go to www.winstonsalem.com/mbegrants.