FOR IMMEDIATE RELEASE
Catalyst Community Capital begins accepting applications for Technical Assistance Grant
City of Cape Coral will be funding the COVID-19 Microenterprise Technical Assistance Grant Program
CAPE CORAL, Fla. (April 15, 2021) – Catalyst Community Capital, Inc. (Catalyst), a mission based 501 (c)(3) organization and certified Community Development Entity focused on economic and community development, is now accepting applications on behalf of the City of Cape Coral for the city’s COVID-19 Microenterprise Emergency Technical Assistance Grant Program.
The City of Cape Coral is utilizing funds from the U.S. Department of Housing and Urban Development (HUD) Community Development Block Grant CARES ACT (CDBG-CV) to establish an emergency business grant program, which will provide a $3,000 technical assistance grant to small businesses with between 2 to 5 employees that are experiencing severe financial hardship as a result of the pandemic. In addition to the grant funds, the technical assistance portion of the program will focus primarily on financial management, corporate record keeping and legal documentation.
“Weathering the impacts of COVID-19 for over a year now, many small businesses are financially fragile,” said Joseph Bonora, President of Catalyst Community Capital, Inc. “These funds and the technical assistance provided will not only help struggling microenterprises and small businesses survive but will also make them better prepared for unforeseen issues in the future and help them build a stable, durable business.”
To qualify for the program, the business must be located within one of the designated areas within the municipal boundaries of the City of Cape Coral, have between two to five employees, have been opened a minimum of two years, and have a physical location that is not located in a residence. The owner of the business must be a resident of Cape Coral as well.
The program is available on a first-come, first-serve basis, so eligible businesses are encouraged to apply as soon as possible.
About Catalyst Community Capital
Catalyst Community Capital, Inc. is a Tampa-based 501 (c)(3) based with a mission to create jobs and improve the lives of those living in low- and moderate-income communities by providing small businesses, mission-aligned organizations, and affordable housing developers with access to capital and resources, as well as technical assistance. The organization is a CDFI Fund certified Community Development Entity (CDE) and is in the process of getting certified as a Community Development Financial Institution (CDFI).