Recoverable Grant Funding Opportunity
Two $10,000 recoverable grants to be awarded
The Because Accelerator is excited to announce and open applications for funding to entrepreneurs who have completed our accelerator program. It is evident that funding—provided to the right entrepreneur, at the right time, and in the right way—has tremendous potential to spur growth in the business, and we want to see your businesses grow so you can have maximum impact!
Application Deadline: January 10th, 2022
Award Date: February 18th, 2022
REQUIREMENTS
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Successfully complete the Because Accelerator program (previously known as Pursuit).
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Complete your annual alumni survey and interview with someone on the Because Accelerator team.
Contact Sarah Hille at sarah@becauseinternational.org if you have not completed this or if you are unsure if you have completed this. -
Submit the online application.
Applicants should be able to clearly articulate the opportunity that lays ahead if they receive this funding. See other helpful info below in FAQs. -
If selected for the second stage of the application process, you will be required to attend an interview with the Because Accelerator team.
FAQS
What should I have ready before I complete my application?
In addition to the requirements above, be prepared to provide the following information with your application.
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Last three years of financials, which should include profit & loss/income statements and balance sheets. (If you have been in business less than three years, please provide financials for all years you have been in business.)
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Completed Business Model Canvas
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Detailed breakdown of how this funding will be used
What is a Business Model Canvas?
A Business Model Canvas is a strategic management template used for developing new business models and documenting existing ones. It offers a visual chart with elements describing a company's or product's value proposition, infrastructure, customers, and finances. You can use any template for a business model canvas in your application. The Because Accelerator uses this template as a business model canvas that you are welcome to make a copy of and use.
What should I use this funding for?
How you use the money is completely up to you. We just want to know that the plan you have for using this funding will grow your business, create more jobs in your community, and maximize your impact! Here are some examples that would validate your funding request:
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You are unable to keep up with and fulfill orders or your production costs are unreasonably high because you need a cash infusion to scale up production.
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A sales/marketing strategy you currently use will likely continue to provide a profitable return if it can be scaled up. However, investment is needed to scale up the strategy.
What is a recoverable grant?
A recoverable grant is a grant that operates similar to a no-interest loan. It is a funding opportunity in which the return of the original grant amount is repaid to the Because Accelerator.
Why a recoverable grant?
The Because Accelerator believes that funding is critical for entrepreneurs to grow their businesses. We are a non-profit organization and want to encourage a ‘pay it forward’ mentality as your business grows and experiences success. Once a grant is repaid, it will be awarded to another entrepreneur who has completed the Because Accelerator.
How will repayment be arranged?
Repayment of this grant will be evaluated after a three year period based on revenue growth and profitability. Repayment can be made all at once or phased over time.
What if I can’t repay the grant in 3 years?
The Because Accelerator wants to see you succeed! We do not want to put any undue stress or burden on your business now or at any time in the future. We will work closely with you to ensure that repayment of this grant will not negatively impact your business.
What other expectations will be required of me if I receive this grant?
Again, we do not want to put any additional stress or burden on your business. We will follow up with you regularly to see how you are doing and how we can continue to support you. At the end of three years, we will contact you to discuss repayment. Information about you and your business will be shared on our website and social media platforms.
Recoverable Grant Funding Application
Thank you for your interest! The deadline has passed and we are no longer accepting new applications.