Impact Grant Application

Alamance County Economic Development Foundation IMPACT GRANT APPLICATION

Cycle I/Deadline for submission: Friday, December 6, 2024 5:00 pm ET. Deadline is firm, no extensions will be made.
IMPORTANT - PLEASE READ THIS SECTION IN ITS ENTIRETY AND THEN INDICATE YOUR ACCEPTANCE OF THESE CONDITIONS BELOW
If you have not already reviewed the grant eligibility criteria and program guidelines, we strongly encourage you to do so before filling in your information. It will also be helpful to read through this application in its entirety and gather all pertinent information ahead of time.

You will find it helpful to have the following documentation prepared for upload before starting your application: use of funds narrative, business financial statements, (P&L, balance sheet, budget), most recent business checking account statement, business plan, photo ID, proposals/quotes, images, and any additional, pertinent materials you wish to provide. All questions and requested documentation in this application are mandatory. Neglecting to answer a question and/or upload a document will render your application incomplete and it will not be reviewed by the judging panel.

Note: all materials submitted will be handled confidentially and will not be disclosed outside of the judging panel unless necessary for application underwriting procedures. Applications and additional supplemental information will be the property of the Alamance Chamber/Innovation & Entrepreneurship Program and may not be returned.
After the application window closes at 5:00 pm ET on Friday, December 6, 2024, an independent judging panel will review all eligible applications. The panel will select the top three applications that most clearly demonstrate a viable business model, a sound plan for deploying the grant resources to accelerate the company's growth, the ability of the entrepreneur to successfully navigate the process, and the depth of economic impact this grant could have.

All qualified applicants will be notified on Wednesday, December 18, 2024 of their application status. The panel's top three highest ranked applicants will be invited to participate in the second phase of the grant program: the pitch competition. This event will be held on Thursday, January 23, 2025. Each finalist will make up to a 5-minute pitch in front of the judging panel. The finalists will again make their pitch in front of the Alamance County Economic Development Foundation Annual Meeting audience. The audience will then vote on a $5,000 "People's Choice" award to be given to one of the two runner-up companies. At the conclusion of this meeting, the panel will announce the $25,000 Impact Grant winner.
I have read and acknowledge the submission requirements and process for this grant program. I understand that all questions in this application require a response and failing to respond to an application question and/or not including requested documents may render my application incomplete and ineligible for funding. Furthermore, if selected as a finalist, I agree to participate in the pitch competition on January 23, 2025. Failure to do so will cause my application to be disqualified.

YesNo
I accept the competitive nature of this program. By submitting a completed application, I understand that no guarantee of funding in whole or part is made or implied by the Alamance Chamber, the Alamance County Economic Development Foundation, or by the independent judging panel.

YesNo
If I am selected as a finalist, I would be interested in receiving free pitch coaching services (with restrictions) as I prepare for the pitch competition:

YesNo

Applicant & Company Information
Full Legal Business Name
Business Mailing Address

Street Address

Street Address Line 2

CityState / Province

Postal / Zip Code
Business Location

Street Address

Street Address Line 2

City

Postal / Zip Code
Business Phone Number
Please enter a valid phone number.
Is your business located in Alamance County, NC?

YesNo
Business Web Address
ex: www.businesswebaddress.com
EIN #
Business Founded On:

MonthDayYear
May use date of initial filing with the NC Secretary of State
Business Owner/Applicant Name

First NameLast Name
Title
ex: Owner, President
Daytime Phone Number
E-Mail Address
example@example.com
Does your business have more than one owner?

YesNo
If "yes," please list full names of additional owners and list percent ownership.
ex: John Doe 10%

Please select all that apply to your business' ownership:

Female-ownedBlack-ownedHispanic-ownedNative American-ownedVeteran-ownedNone of the above apply to my business
List all sources of funding that your business has received to date, including owner's original investment. Include dollar amounts and when your company received them.
What business debt are you carrying? This includes any past due taxes, fees and/or fines. Explain in detail and include dollar amounts.
Current number of full-time employees, (including yourself, if applicable)
Current number of part-time employees
List current wages/salaries for any full-time, (non-ownership), positions
What employment benefits do you offer?

Describe your business, including, (but not limited to), a discussion of the problem your company solves, your business model, who your competitors are and how you position your business in the marketplace.
Does your company engage with the local community? If so, please describe.
Tell us about your entrepreneurial journey. How did you develop your business idea? What has been your biggest struggle? Your biggest win? How important is learning and evolving as an entrepreneur? Are you coachable? If so, how do you incorporate your own professional development in your schedule?
What would receiving this grant mean to you as an entrepreneur?
What is your vision for your business? How do you measure your progress towards that vision?
Do you have an exit strategy? If so, please describe.

Use of Funds

Tell us how you plan to use the grant funds if awarded
Please provide a thorough description of how you intend to use the Impact Grant funds if awarded. Be sure to include a timeline that details when and how you would deploy the funding. What impact(s) will this grant have on your business? What growing pains or obstacles can you anticipate and how do you propose to address them? How will this growth affect your customers and/or employees? The local community and economy?
Upload copies of proposals, quotes, images, etc. for any equipment and/or services associated with the use of grant funds.

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Will $25,000 allow you to fully complete the project described above?

YesNo
If "no," provide details on how you plan to "fill the gap," (i.e., the difference between the total cost of what you need for your project and the grant award). Be sure to include a timeline and list of steps to be taken to fill your funding needs.
If you make it to the pitch round of this program, but did not receive the $25,000 prize and instead received the $5,000 "People's Choice" award, how would you apply this funding in your business?

Required Documents
Upload a copy of your company's most recent business checking account statement

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Upload your company's most recent business profit and loss statement

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Upload your company's most recent balance sheet

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Upload your company's current operating budget

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Upload your company's business plan

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Upload images of applicant's drivers license, (front and back)

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Did you apply for a small business grant from the Alamance Chamber/Alamance County Economic Development Foundation in 2023 or 2024?

Yes - a Launch GrantYes - a Growth GrantNo
In completing this application, (or any part of it), I received assistance from, (check all that apply):

SBTDCSCOREOther
If you selected "Other" in the question above, please describe

Assurances & Certifications
Grant applications are reviewed by an independent judging panel. Alamance Chamber/Alamance County Economic Development Foundation staff and its board members have no input on which applicants will be invited to the second round, (pitch round), and the awarding of funds. Decisions by this panel are final and non-negotiable. I understand that this is a competitive grant program and that my application may not be funded at all, or only in part.

YesNo
I understand that by submitting this application, I hereby give my consent to the Alamance Chamber and the Alamance County Economic Development Foundation to use my name, company name, images/photographs, and logos in its communications, digital and print media.

YesNo
If I am selected as a finalist in this competition, I am available and will commit to participating in the pitch competition on Thursday, January 23, 2025. (Pitch to judging panel starts at 1:30 pm, pitch to EDF audience starts around 4:30 pm, awards ceremony around 4:55 pm. Pitch competition will be held at Alamance Country Club in Burlington, NC.)

YesNo
I certify that this application is complete in its entirety and that the information I am submitting is true and accurate to the best of my knowledge. Information that I submit that cannot be verified and/or lack of responses to all application questions may be cause for the rejection of my grant application.

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Alamance County Economic Development Foundation IMPACT GRANT APPLICATION

IMPORTANT - PLEASE READ THIS SECTION IN ITS ENTIRETY AND THEN INDICATE YOUR ACCEPTANCE OF THESE CONDITIONS BELOW

Applicant & Company Information

Use of Funds

Required Documents

Assurances & Certifications