Calling All Entrepreneurs! City Accepting Applications for Small Business Competition

Post Date:12/10/2018 10:40 AM
GREENVILLE, N.C. - Entrepreneurs who believe they have the next great business idea once again have a chance to get grant funding to assist with it as part of the City of Greenville's Small Business Plan Competition.

Compass G

The City is currently accepting applications for the competition, which awards grants of up to $30,000 as an economic incentive for creating or expanding businesses located in the center city or west Greenville redevelopment areas. The deadline for applications is January 21, 2019, and more information on the requirements can be viewed here.

Grants are awarded equally between the Center City and West Greenville revitalization areas with as many as two grants for businesses in each area. Funds are distributed as a zero interest loan forgivable over a three (3) year period at one third of the award per year for each year the business operates within the approved area shown on the map below.

 

Business plan submissions are limited to existing or start-up small for-profit businesses whose tangible net worth is not in excess of $7.5 million, and whose average net income after Federal income taxes for the preceding two completed fiscal years is not in excess of $2.5 million.

Since 2008, the competition has incentivized 38 small businesses within the designated redevelopment areas.
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