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The Small Business Catalyst Fund is a new program offering grant and loan capital to eligible businesses with capital needs located in central and southeastern United States. The Fund is supported by Fifth Third Bank through its Empowering Black Futures program and is implemented by four local CDFIs with extensive experience serving entrepreneurs unable to secure capital and resources from traditional sources.
Eligible grantees must be for-profit small businesses located in one of the program’s focus neighborhoods.
Eligible small businesses must operate in one or more of the following neighborhoods:
$5,300
For applications selected for further processing, the application qualification review and funding process is expected to take about 2 weeks. The exact timeline will vary based on each individual situation.
The Small Business Catalyst Fund is a new program offering grant and loan capital to eligible businesses with capital needs located in central and southeastern United States. The Fund is supported by Fifth Third Bank through its Empowering Black Futures program and is implemented by four local CDFIs with extensive experience serving entrepreneurs unable to secure capital and resources from traditional sources.
Eligible grantees must be for-profit small businesses located in one of the focus states of the program.
Eligible small businesses must operate in one or more of the following states:
Loan sizes will vary based on the business need and can range from a minimum of $5,000 to a maximum of $750,000.
Fixed 7.5%
Loan funds can be used for a variety of reasons, including payroll, inventory purchases, refinancing and more. Be sure to talk with your lending professional about any questions about eligible uses.
Yes. A Uniform Commercial Code (UCC) or all asset filing is required.
Yes.