South St. Pete CRA Microfund Program

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ATTENTION: Thank you for your interest in the South St. Petersburg CRA Microfund Program. The application portal will close at 3 PM on May 19, 2023 as applicant numbers have been met. We will continue sequential review of applications to meet the maximum cohort number. Participants in the first South St. Petersburg CRA Microfund Program cohort will be notified upon completion of application review and no later than Monday, June 5, 2023.  The next cohort will be offered in fall/winter 2023.

SOUTH ST. PETE CRA MICROFUND PROGRAM

Overview

The South St. Petersburg CRA Microfund Program offers personalized capacity building through increased education, mentoring, and networking in exchange for funding so business owners can make targeted and planful improvements without having to provide upfront capital. Through this funding package, the City’s goal is to ensure businesses within the Community Redevelopment Area (CRA) can take advantage of the capital access initiative.

ABOUT THE PROGRAM

✓ The Microfund is a no-match program.
✓ The Program offers personalized capacity building through increased education, mentoring, and networking in exchange for CRA funding so business owners can make targeted and planful improvements without having to provide upfront capital. 
✓ Cohort will be given up to 45 business days to complete the assigned capacity-building curriculum which may require up to 15 hours of attendance and/or engagement.
✓ Program periods are expected to recur upon the completion of each cohort, approximately every four (4) months.
✓ Following the completion of the first Cohort, the program will be reviewed for effectiveness, and modifications will be implemented as needed.

How To Apply

Applications are open now closed. The next cohort will be offered in fall/winter 2023.

  • $350,000 has been budgeted for the initial Microfund cohort.
  • One additional cohort will be launched later in calendar year 2023.

FUNDING LEVELS

  • Existing Brick and Mortar - $10,000
  • Existing Family Childcare - $10,000
  • Existing Home-Based Business - $5,000
  • Existing Shared Commercial Space - $5,000
  • Early-Stage Startup - $2,500

Application Resources

Application Toolkit | How to Apply Webinar | Microfund FAQs

Key Dates & Timeline

Next Cohort begins in Fall/Winter 2023

A Big 'Thank You' To Our Partners

  • The St. Petersburg Area Chamber of Commerce
  • SCORE Pinellas County
  • Florida SBDC at Pinellas County Economic Development
  • Tampa Bay Black Business Investment Corporation