Flagstar Bank's Black, Indigenous, and People of Color Grant

Ampac Business Capital is partnering with Flagstar Bank to provide $5,000 grants to small businesses in Riverside County, California.

NEW

$5,000 Business Grant to Help For-Profit Small Businesses

BIPOC (black, indigenous, and people of color) businesses in Riverside County are now eligible for $5000 grants to assist with operating expenses.

Flagstart Bank partners with AmPac Business Capital to bring this grant offer to minority business owners

About the Program

Goals of the Program

Flagstar Bank’s grant program’s purpose is to help for-profit small businesses in the key markets of Riverside County, California that have been affected by the COVID-19 crisis with their operating expenses.

TIMELINE

Application process starts: November 9
Applications due: November 20, by 5 PM
Applicants notified of grant decisions: December 4, by 5 PM

To provide immediate financial support to BIPOC small businesses and entrepreneurs in Flagstar Bank’s market areas of Riverside County, California. This is to provide working capital grants to qualifying applicants.

How Do I Apply for a Grant?

Review the eligibility and requirements below before proceeding to make sure your business is eligible for this program.

You must complete the application and fax the following documents:

IMPORTANT: Please complete each box on the application; if a box is not completed, then the application is considered incomplete and will not be reviewed for the grant.

Grant awards are issued to the name of the business on the application, so you will need a business bank account.

Scan or Fax Your Application and Required Documents to:

FAX: 909-752-3140

Please email awhisler@ampac.com for questions or call the office at 909-915-1706.

Disclaimer: The information contained herein is subject to the actual grant award documents and the written terms and conditions of which may be amended from time to time. AmPac Business Capital also reserves the right to make the final determination of any person’s or organization’s eligibility and/or qualifications for program benefits and to make the allocation of program benefits as it may, in its sole discretion deem appropriate.

Eligibility Requirements

The following is a list of grant criteria and eligibility requirements:

  • Grants may range from a minimum of $5,000.
  • Businesses with annual revenues no more than $1 million.
  • Businesses must have been in existence a year or longer.
  • Businesses must be for-profit.
  • If a business owner operates more than one business, only one application for a single business will be accepted.
  • The business name on the application must match the records with the State, County, and City. Your business must be in good standing with the State, County, and City.
  • Certificate of Good Standing.
  • The business must have a business address in Flagstar Bank’s key geography of Riverside County, California.
  • Grants may be used to cover the day-to-day operating expenses of the business, such as rent, working capital, payroll, utility bills, or losses due to destabilizing events, etc. Grants may be used for transitioning to e-commerce, curbside pick-up, delivery integrations, and other creative solutions to increase revenue.
  • Agree to share financials and other essential information
  • Agree to share change in business as a result of the grant funding

What Businesses are NOT Eligible to Apply?

The following is a list of grant criteria and eligibility requirements:

  • Businesses that are franchises and chains are not eligible to apply.
  • Only socially acceptable businesses – no liquor stores, cannabis, etc. (per SBA guidelines)
  • Independent contractors operating multilevel or network marketing businesses (such as Avon, Mary Kay, 5LINX, Pampered Chef, etc.) are not eligible to apply.
  • Independent contractors working on gig platforms (such as Airbnb, Fiverr, Uber, Lyft, Instacart, etc.) are not eligible to apply.

Do You Need Additional Capital?

If you have a need for additional capital, in addition, to applying for the grant, contact the AmPac office by calling 909-915-1706 or email info@ampac.com.