Beyond Open grants for businesses in underserved areas

COURTESY FOUNDATION FOR THE CAROLINAS

Do Greater Charlotte board member DeAlva Wilson Arnold talks during a presentation of Beyond Open at Foundation For The Carolinas. Beyond Open is accepting applications for grants to small businesses from historically underserved Charlotte communities through Aug. 31.

Entrepreneurs from Charlotte’s historically underserved communities can apply for small business grants through Aug. 31.

Beyond Open is accepting applications for a second round that will distribute up to $5 million among around 150 small businesses in amounts ranging from $10,000 to $150,000. The first round distributed $5.9 million in grants to nearly 180 small business owners and nonprofits from 3,200 applicants.  

The grants are to help small businesses access capital assets like equipment, technology, real estate and inventory. Beyond Open funds can’t be used for operating expenses such as payroll, utilities, advertising/marketing, consulting and debt repayment.  

“Strengthening small businesses for the long-term is a priority for Wells Fargo,” said Jenny Flores, head of small business growth philanthropy at the bank, whose Open For Business Fund provides the grants to FFTC. “Enabling small business owners to purchase tangible assets, like property and equipment, helps them thrive, grow revenue and deepen their ties to the communities they serve.”  

The program focuses on small business owners within Charlotte’s six Corridors of Opportunity who identify as a racial minority, woman, veteran, LGBTQ+ or disabled.  

“I’ve never been able to get a grant from any other organization before, and when I found out that I won a Beyond Open grant, it took such a weight off of me–to be able to continue to do what I love doing, and to grow,” said Teneisha “Smittee” Smith, owner and master barber of Smitteez Cutz Barber Shop in the Graham Street/North Tryon Corridor, one of the designated areas for eligibility.  

Interested small business owners can learn more and prepare by visiting beyondopenclt.com, where they can access eligibility requirements, available grant amounts and allowed uses, information about application information sessions and application guide. Applicants may also receive technical assistance from ASPIRE Community Capital, Prospera North Carolina and Women’s Business Center of Charlotte. All applicants will receive notification of their application status by November. 

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