COME BE THE CHANGE!
Are you thinking about starting a new business? Or have you been in business less than two years and want to expand? Running your own business is exciting and sometimes overwhelming and costly.
In an effort to promote business growth in Northeast Franklin County, NC, as well as Franklin County, NC in general, The Northeast Franklin Revitalization (NEFR) Group is offering a grant program to encourage new businesses and help expand existing small businesses under two years old and with a workforce of three or less.
Those receiving prior grants through this program are NOT ELIGIBLE TO APPLY. APPLICATION DEADLINE HAS BEEN EXTENDED TO MIDNIGHT, FEBRUARY 12, 2023.
Click below to apply online, or download the application and email or mail per instructions on the application.
Opportunity will be offered to a maximum of 12 people who want to start a business or expand an existing business in 2023-2024. Persons interested must submit an application, be chosen by a Selection Committee appointed by the NEFR Group, and attend a mandatory four-week business class offered through Vance-Granville Community College/Franklin County campus, Louisburg NC. Classes will be held March 7 – March 30, two sessions per week on Tuesday and Thursday from 6-9pm, with presentations and awards ceremony on April 4.
The class program will help participants develop a business plan, which is a roadmap for your business; gain insight for financing and banking options; understand legal references; and overcome the fear of bookkeeping and taxes. All this plus other details that are required to make a new or newly formed business a success.
Completion of a four-week class program is required. The class is FREE to the applicant with the cost sponsored by the Northeast Franklin Revitalization Group and Vance Granville Community College. Each participant is required to bring a laptop or electronic tablet for Internet access.
This program will introduce aspiring entrepreneurs and existing business owners to the concepts and practices that will give them the tools necessary for business success.
At the end of the program, each participant will have completed a basic small business plan, and will have the opportunity to present that plan and business model to the Selection Committee for the grant award process.
Once applicants have attended all classes of the mandatory four-week program, the Selection Committee will choose the best business plan and business model, as well as a runner up. The best plan and model will receive a $5,000 Business Grant and the runner up will receive $3,500.
The remaining 10 students will be awarded a $1,000 grant, provided they submit an acceptable business plan to begin or expand their business.
Highest priority will be given to those who plan to operate their business in Northeast Franklin County, NC followed by those operating within Franklin County, NC in general.
**There is no guarantee that a grant will be awarded**
THE DECISION OF THE SELECTION COMMITTEE IS FINAL.
In order to take advantage of the grant program, the business must open within 12 months of the grant award. Grant recipients must be expanding or opening their business in Franklin County, NC.
To be eligible, attendance is mandatory for all classes, including the business plan presentation.
Each grant recipient agrees to meet with the NEFR Board of Directors at six months and one year from the start-up date to share information about the business start-up status, progress, etc.
If the business closes less than six months after opening, the grant recipient may be required to repay the entire grant amount received.