Wells Fargo-backed grant program to dole out $5M more to diverse small businesses in Charlotte

Charlotte Business Journal
·1 min read

A grant program backed by Wells Fargo & Co. to help diverse small-business owners will accept applications for a second round this summer — but with a few changes.

Known as “Beyond Open,” the grant program covers five cities, including Charlotte. Wells Fargo allocated $100 million, with Charlotte and the other cities receiving $20 million each.

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The first round, awarded in January, totaled $5.9 million and went to 178 local businesses. There were 3,200 applicants.

The Foundation For The Carolinas administers the program in Charlotte.

Tracy Russ, the foundation’s special adviser for civic initiatives, said that one of the most notable shifts in criteria for the next round is that only businesses in one of the city’s six Corridors of Opportunity — historically disadvantaged parts of Charlotte — will be considered.

Keep reading here.

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