The Montgomery County Economic Development Corporation will begin accepting applications today (Aug. 9) for phase two of its economic development grant program for qualifying nonprofits in the county.
The program, applications for which will close Wednesday, Aug. 18, provide competitively selected grants ranging from $7,500 to $25,000, with possible additional grants of $50,000 or $100,000.
Unlike the phase one program, which was limited to certain types of programs, the phase two applications “will be open to all qualifying nonprofits that offer local programming and can specify how the funds have or will contribute to economic development in Montgomery County,” according to a press release.
“The criteria include:
- Eligible nonprofits should have annual revenues of no more than $4 million and no less than$25,000 for the most recent fiscal year; and
- Eligible initiatives must have started no earlier than March 2020, and nonprofits have until the end of 2021 to utilize the funds,” the release continued.
Online applications must be filed by 5 p.m. on Aug. 18. The funds will be distributed to all selected nonprofits no later than Oct. 1 and the selected nonprofits must make use of the funds no later than Dec. 31.
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