City of Dubuque Offering Up to $3,000 Grants for Income-Qualified Small Businesses
June 21, 2022
The City of Dubuque Economic Development Department is accepting applications for grants of up to $3,000 to help qualified low-and moderate-income (LMI) business owners succeed over the long term.
The program will utilize Community Development Block Grant (CDBG) funds from the U.S. Department of Housing and Urban Development (HUD) which must be used to provide economic development benefit to LMI individuals and areas.
The goal of the grant program is to not just cover current expenses with grant funds, but also to develop strategies for continued success. The City is partnering with the Fountain of Youth program to administer the grant. Grant recipients will be matched with a business mentor and will be required to participate in an eight-week career and professional development program facilitated by the Fountain of Youth. These qualifying requirements are meant to provide ongoing support to the business owner in their efforts to improve business practices and increase income.
To be eligible for the grant, the business owner must live in an LMI household (below 80% of area median income or lower) inside the city limits of Dubuque and the business must have fewer than five employees and be operational for at least six months before application.
A business may qualify for a grant up to $3,000 if all eligibility and qualifying requirements are met. The intent of the program is to serve as many businesses as possible. There is no guarantee that a business will be funded.
For additional details, or to apply, visit www.cityofdubuque.org/econdev or call 563-564-5686. Applications will be accepted beginning on July 1, 2022.
# # #