Small companies attempting to outlive, or thrive, amidst all of the upheaval is perhaps eligible for brand spanking new grant cash opening up subsequent week.

Alexander Austin of the Prince George’s County Chamber of Commerce (left), Jermaine Johnson of PNC Bank, Tonia Wellons of the GWCF, and David Iannucci of the Prince George’s County Economic Development Corporation (middle).(WTOP/John Domen)

The modifications and disruptions on the Purple Line hall have been grueling, and seemingly endless. Soon, massive modifications are within the works alongside the Blue Line hall too. Small companies attempting to outlive, or thrive, amidst all of the upheaval is perhaps eligible for brand spanking new grant cash opening up subsequent week.

On Monday, the Greater Washington Community Foundation will start accepting functions from small companies for grants as much as $20,000.

“It is for companies which might be 10 or fewer folks, $5 million or much less by way of income,” mentioned Tonia Wellons, the president and CEO of the muse, which introduced the grant via a $500,000 donation from PNC Bank on Thursday. “The grant is to actually assist enhance the financial vitality … and enhance enterprise efficiency for small companies.”

Businesses additionally have to be a minimum of three years previous, and precedence might be given to homeowners in low to reasonably low-income components of the Blue and Purple Line corridors. The grant cash can be utilized to assist cowl capital enchancment prices, operational prices or different infrastructure wants that may exist.

Qualifications wanted to use to the GWCF’s small enterprise grants. (WTOP/John Domen)

Wellons expects it’ll be a aggressive course of and that not each enterprise that’s eligible might be chosen, she mentioned. Those which might be eligible should make a compelling case.

“We know that alongside the Purple Line, there’s loads of building proper now. Those companies are actually having a tricky time making it,” Wellons mentioned. “They get to make the case round how this funding may also help them handle via the development course of, to have the ability to survive and profit as soon as the development is full.”

The case is totally different for the companies alongside the Blue Line hall, she mentioned.

“That growth is within the making now,” Wellons mentioned. “Now they actually get to bolster their companies in order that hall is creating, they’ll profit.”

Jermaine Johnson, the D.C.-area regional president for PNC Bank, mentioned it was an opportunity to work with small and minority-owned companies in a way they don’t usually get to do.

“It might be very troublesome with the regulatory pointers that we’ve as a giant financial institution,” Johnson mentioned. “These are entrepreneurs, early stage firms that historically wouldn’t have entry to a financial institution like PNC. And via these funds, we will present that entry.”

When this system launches Monday, companies could have till May 13 to apply for the grants.

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