FOUNDERS FIRST ACCEPTING APPLICATIONS FOR ‘JOB CREATORS QUEST GRANT’

Opens second round of funding totaling $100,000 for Pa. and NJ businesses

“Although Pennsylvania and New Jersey are two different states with unique stories to tell, their entrepreneurs are bound by the gritty determination needed to overcome challenges in business and life.”

Qualified businesses in Pennsylvania and New Jersey are invited to apply for a “Job Creators Quest Grant,” through Founders First CDC. A national 501(c)(3) nonprofit organization that empowers expansion in diverse founder-led, revenue-generating businesses, Founders First this week announced the second and expanded grant program.

A total of $100,000 will be awarded to 30 minority and underrepresented businesses in Pennsylvania and New Jersey. Grant awards will range from $1,500 to $10,000 per company. Recipients will also receive a scholarship to Founders First’s business accelerator, a program that includes leadership coaching and continuing business education.

To be eligible for the grant package, businesses must be located in Pennsylvania or New Jersey, and meet the following criteria:

• A current staff of 2-20 employees • A service-based business • Act as a for-profit company with annual revenues between $100,000 and $3 million

• Founded by an entrepreneur who identifies as a minority, LGBTQIA+, military veteran, or is located in a low-to-moderate income area

Applications are being accepted now, but must be submitted by 5 p.m. on June 13. Qualified business owners can apply for the grant by visiting https:// foundersfirstcdc.org/pa-nj/ or emailing philly.nj.jobcreators@ foundersfirstcdc.org to learn more.

“Recipients will be selected based on their demonstrated ability to maintain and grow their workforce, as well as their commitment to creating premium wage jobs in their communities,” a press release announcing the program, stated.

“Although Pennsylvania and New Jersey are two different states with unique stories to tell, their entrepreneurs are bound by the gritty determination needed to overcome challenges in business and life,” Shaylon Scott, executive director of Founders First, said in a statement. “We’re proud to return to both markets in an effort to build long-term relationships and support the ambitious leaders who are inspiring their communities.”

Funding for the program was facilitated by a $1 million national grant from the Rockefeller Foundation and ADP, in conjunction with Founders First Capital Partners’ recent $9 million Series A financing accelerator to support underrepresented entrepreneurs in underserved communities across the country. JP Morgan Chase and the Kauffman Foundation have also been steadfast partners in growing the program at a national level.

Since its inception, Founders First has served more than 450 companies that have created more than 300 jobs and raised more than $20 million among its founders.

According to Margaret Berger Bradley, vice president, strategic initiatives for Ben Franklin Technology Partners of Southeastern Pennsylvania, the combination of the grant and participation in the accelerator is a “real win for companies that participate.”

“I was impressed to see the quality of presentations that came out of the most recent Founders First cohort. We are happy to support Founders First and their mission of improving the success rate of these community-based, high impact businesses,” she said in a statement.

For more information about Founders First CDC visit www.foundersfirstcdc.org.