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D.C. Offers $3 Million In New Grants To Attract (Or Keep) Businesses Downtown

D.C. Mayor Muriel Bowser’s administration is offering new grants for businesses that open or expand in vacated downtown properties as part of an ongoing effort to bring life back to a major city corridor.

The $3 million in”downtown recovery grants” Bowser announced Monday aims to incentivize businesses to relocate or expand into downtown. The grant can cover construction, rent, and utilities. Up to five businesses are expected to each get between $200,000 to $3,000,000. To qualify, a business must lease a space that has been vacant for at least six months in the Downtown Business Improvement District or the Golden Triangle Business Improvement District, among other requirements including completing project by September 2025 and demonstrating how the project will drive foot traffic.

March 14, 2023
Published by Black Enterprise Resource Center on March 14, 2023
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The Collapse Of Silicon Valley Bank

The collapse triggered a crisis for tech startups, which have relied on the Santa Clara-based bank for decades. Silicon Valley investors, executives, and lenders immediately began ringing alarm bells about a potential doomsday of mass layoffs and the demise of hundreds of startups.
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March 13, 2023
Published by Black Enterprise Resource Center on March 13, 2023
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SBA releases expanded HUBZone map

The U.S. Small Business Administration (SBA) announced the launch of a new Historically Underutilized Business Zone (HUBZone) which shows that hundreds of firms in newly released designated underserved areas will become eligible to apply for HUBZone certification.
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March 13, 2023
Published by Black Enterprise Resource Center on March 13, 2023
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15 grants for black women

According to research done by the Harvard Business Review, Black women are the fastest-growing group of entrepreneurs in the United States. Despite this high startup rate, only three percent run mature businesses.
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