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A new grant program launched in Frederick, Maryland, aims to support minority and women-owned small businesses.
“The program is designed to support and empower,” said Shana Knight, community engagement specialist with the city of Frederick.
“The thought process behind it is that the No. 1 issue for minority and women-owned small businesses is access to capital, so we just want to provide opportunities for that, that will allow these businesses to grow,” Knight added
According to the city, grant money is available for both startup and established businesses that need funding for a defined project that will grow their business.
In all, there is $400,000 available. Eligible businesses may request grant amounts up to $40,000.
“Our goal is to just support as many of these businesses as possible, and really prioritize projects that demonstrate that it’s going to really help a business grow,” Knight said.
Potential recipients must be a registered, for-profit business and have no more than 25 full-time employees.
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