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The original item was published from 8/23/2022 11:54:00 AM to 9/18/2022 5:05:01 PM.

News Flash

City of Durham News

Posted on: August 23, 2022

[ARCHIVED] Durham Provides Financial Education and Grant Opportunities to Local Microbusinesses

Enhance your business financial system at Momentum Financial Academy  - apply by Sept. 18

September 18 Application Deadline for Latest Momentum Financial Academy Cohort; Information Sessions Set for August 30 & September 13

Microbusiness owners who want to establish a financial system for their businesses should apply now for the latest cohort of the Momentum Financial Academy, a free program designed to provide Durham entrepreneurs with a complete financial toolkit.

Momentum Financial Academy is now accepting applications for its latest cohort, which is tailored for microbusinesses with fewer than five employees. During the four-week program, participants will gain important financial literacy skills to help them manage business finances, prepare for growth and scaling, and plan for retirement.

Graduates of the program will also have the opportunity to apply for up to $20,000 in grant funding that can be used for business-related expenses. Participants who do not have an established accounting system may also apply to receive a software subscription as part of this program.

In order to be eligible for the program and the grant funding, microbusiness owners must be considered low-to-moderate income by the U.S. Department of Housing and Urban Development (HUD). For more information, including details about eligibility requirements, microbusiness owners are invited to join upcoming virtual information sessions either on Tuesday, August 30 or Tuesday, September 13 from 9:30 a.m. to 10 a.m. Applications to participate in this cohort are due by September 18.

This virtual classroom program will take place from October 18 through November 10. The classes will meet on Tuesday and Thursday during this four-week period, and each session will take place from 8 a.m. to 10 a.m. In addition to meeting virtually, each participant will also have the opportunity for one-on-one interaction with instructors from Infinity Bridges and My Local CFO.

This fall’s program is the first of five cohorts to be hosted through the Momentum Financial Academy over the next year thanks to funding from HUD and a partnership between the City’s Office of Economic and Workforce Development and the City’s Community Development Department.

For additional information and to apply to this cohort, visit the Momentum Financial Academy webpage or contact Community Economic Development Analyst Victoria Gonzalez with the City’s Office of Economic and Workforce Development by email or at (919) 560-4965, extension 15221.

About the City of Durham Office of Economic and Workforce Development

Guided by the City’s Strategic Plan, the Office of Economic and Workforce Development helps ensure that Durham has a strong and diverse economy by helping to increase the commercial tax base, preparing the workforce to meet the demands of current and emerging industries, promoting long-term economic growth through the revitalization of downtown, urban and targeted suburban areas, and providing technical and targeted financial assistance for businesses.

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