The SEDI Business Supportive Grant (SBSG) is awarded to qualified applicants to advance the growth of businesses in Greater Phoenix while addressing systemic issues affecting access to capital for Socially & Economically Disadvantaged Individual (SEDI)-owned businesses.
The grant will be administered by the Millionaire Mastermind Academy in partnership with Wells Fargo Bank, and the Black Chamber of Arizona. Awards ranging from $5,000 to $10,000 will be granted to selected applicants, drawing from a total funding pool of $100,000.
Support Provided Through the Grant:
- Financial award to contribute to the growth and/or sustainability of the business.
- Membership to the Black Chamber of Arizona and related benefits.
- Business consulting and educational training to aid in business success.
- Routine check-ins to facilitate connection between ongoing needs and available resources.
BUSINESS ELIGIBILITY
The business is based in the Greater Phoenix area.
The company must have been in business at least two years as of November 6, 2024
Applicant must provide an explanation of how the funds will be used, clearly demonstrating opportunities for sales in an identified target market.
Businesses must be independent and sustainable – no start-ups.
The business is registered and in good standing with the Arizona Corporation Commission.
Business qualifies as a SEDI-owned business; preference given to women-owned businesses.
Funds are only available for business costs associated with sustaining and/or growing the business and cannot be used to pay off previously acquired debt.
AWARD RECIPIENT REQUIREMENTS
- Finalists being considered for funding may be asked to participate in an interview with the review committee.
- Awardees will sign an acknowledgement that they will use the money for the purposes described and provide receipts of grant expenditures.
- Recipients agree to provide the Black Chamber of Arizona with data requested to track program impact in a timely fashion.