More than 800 Black business owners in Birmingham applied for the inaugural Magic City Match grant program, and an independent committee has selected a cohort of 25 to move forward in the process. Funded by Prosper and presented by REV Birmingham, IGNITE! Alabama and Urban Impact Inc., Magic City Match is designed to increase business competency, provide access to capital and give new market opportunities to Black business owners with brick-and-mortar locations in Birmingham.
This cohort of business owners will each receive $2,000 at the completion of an 8-week business academy and will go on to present their pitch to a Community Selection Committee for cash prizes:
- Ten grants up to $25,000
- Two grants up to $50,000
- One grant up to $100,000
The business academy is led by Dr. Alice Gordon Holloway, CEO of Skye Connect. In each 90-minute session, business owners will build their toolbox to achieve short-term success and long-term sustainability. Grant awards will be announced June 13, 2022.