Capital One $10k Foundation Grant
Capital One has been a strong supporter of small businesses, especially those belonging to underrepresented groups. One of its standout initiatives is the $10,000 Foundation Grant Program, designed to support Black-owned businesses facing unique challenges.
What is the $10,000 Foundation Grant?
The $10,000 grant from the Capital One Foundation is part of the Capital One Impact Initiative, which aims to provide resources to nonprofits and small businesses to help them meet financial challenges and promote economic growth.
This grant program is specifically targeted at Black-owned businesses that have been in operation for at least two years and have annual revenue of $1 million or less.
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Eligibility Criteria for Capital One $10k Foundation Grant
To be eligible for the $10,000 grant from the Foundation, businesses must meet the following criteria:
To qualify for the $10k grant from the Capital One Foundation, applicants must meet the following requirements:
- ✅Nonprofit status or business registration: The applicant must be a registered 501(c)(3) nonprofit or a for-profit business with a clear social mission.
- ✅Focus on economic and social impact: Projects must address key issues such as workforce development, financial literacy, economic empowerment, or education. Preference is given to initiatives that promote diversity and inclusion.
- ✅U.S.-based organizations: Only organizations based in the United States are eligible to apply. Businesses or nonprofits that operate internationally must demonstrate their impact in the U.S. to be considered.
- ✅Capacity for long-term impact: Proposals that demonstrate potential for lasting and scalable impact are prioritized over one-off or short-term projects.
How To Apply for Capital One $10k Foundation Grant
Application Process for the Capital One Foundation $10,000 Grant
Step 1: Pre-Application Preparation
Before applying, applicants should thoroughly research their eligibility and align their project goals with Capital One Foundation priorities. Successful applicants typically invest significant time in defining measurable outcomes, ensuring their project will deliver lasting and scalable benefits.
Step 2: Submit Your Application
Once prepared, applicants must submit their proposals through the Capital One Foundation online grant portal. The application typically requires the following information:
- Organization Overview: A description of the organization, including its mission, vision, and history.
- Project Description: A detailed explanation of the project, including its goals, target beneficiaries, and expected outcomes.
- Budget Plan: A comprehensive budget outlining how the $10,000 grant will be allocated, including a breakdown of specific costs.
- Impact Metrics: Clearly defined metrics for how success will be measured, such as number of people served, jobs created, or improvements in financial literacy achieved.
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Step 3: Consideration and Feedback
After the application is submitted, all proposals are reviewed by the foundation’s grant committee based on their fit with Capital One’s strategic priorities, feasibility, and potential long-term impact. Applicants may be asked for additional information or clarification during this phase.
Step 4: Award Notification
Selected applicants are typically notified within three months of submission. Rejected applicants are encouraged to reapply in future funding cycles or request feedback on their proposals for improvement.
Impact and Success Stories of Capital One $10k Foundation Grant
Since its inception, the Capital One Foundation’s $10,000 grant has made a significant impact on the small business community.
For example, in 2022, the program awarded grants to 170 Black-owned businesses, 65 percent of which were women-owned.
These grants have helped businesses overcome financial obstacles, expand their operations, and contribute to their local economies.
Why it matters
Supporting small businesses, especially those belonging to underrepresented groups, is crucial to fostering economic growth and reducing inequality. Programs like the Capital One Foundation’s $10,000 grant provide much-needed resources and opportunities for these businesses to thrive.
Conclusion
The Capital One Foundation’s $10,000 grant is a powerful tool to empower Black-owned businesses and promote economic equity. By providing financial support and resources, Capital One is helping to build a more inclusive and resilient small business community.
If you are a Black-owned business owner looking for support, this grant could be a great opportunity to help your business grow and succeed. For more information, visit Capital One’s website or reach out to their grant support team.