True Access Capital and Cornerstone West Community Development Corporation have partnered to launch the new West Side Corridor Revitalization Fund, which offers grants of up to $10,000 to eligible small business owners, and developers whose projects contribute to the economic revitalization of the city’s West Side community. The fund is supported by the JPMorgan Chase Foundation.
The West Side Corporation Revitalization Fund will provide grants of up to $10,000 per applicant to fund eligible projects. Eligible applicants include small businesses, landlords, and developers with properties or businesses located between I-95/Jackson Street to Union Street (east to west), and 7th Street to Lancaster Avenue (north to south). Funding is intended specifically for property or business owners seeking to invest in the revitalization of the West Side community. Applicants must be able to demonstrate a path to site control, such as property ownership or a valid lease, or must be seriously engaged in a lease or purchase discussion regarding the subject property.
Funding will come in the form of a forgivable loan, which will include certain covenants, and can be used for site acquisition, business expansion, construction, renovations, remodeling of an existing business, working capital, inventory, furniture, or fixtures. Awarded funds will be forgiven in full, as long as the loan covenants are satisfied.
There will be four virtual information sessions to learn more about the program.
- March 24, 2021 – 6:00 PM (English)
- March 31, 2021 – 6:00 PM (Spanish)
- April 7, 2021 – 10:00 AM (English)
- April 14, 2021 – 10:00 AM (Spanish)
The submission window for WSCRF applications opens through June 7, 2021. Applications will NOT be accepted after the closing date. Award announcements will be made no later than July 8, 2021. You can learn more about the WSCRF program, download the application, and register for a virtual information session here. Applications should be submitted electronically to Delores Lee by email here.