Beyond Open Small Business Grant Program: $16.3M Charlotte Grant for Diverse Entrepreneurs

Grant Overview

Transform Your Charlotte Business with Up to $150,000 in Non-Repayable Capital Funding

Charlotte Grant seekers, you gotta hear this. The Beyond Open Small Business Grant Program is seriously changing the game for local businesses like yours. This powerhouse initiative has already pumped $16.3 million into 402 diverse-owned small businesses across Charlotte’s six Corridors of Opportunity, with individual awards ranging from $10,000 to $150,000. Administered by Foundation For The Carolinas and backed by Wells Fargo’s Open for Business Fund, this competitive grant program focuses on building economic mobility where it matters most—right here in Charlotte-Mecklenburg. And if you’re looking for other funding opportunities for minority entrepreneurs, we’ve got plenty more options to explore.

Let’s be blunt about something. Most small business owners in Charlotte’s underserved corridors struggle to access capital. Traditional loans come with strings attached, and venture capital? Forget about it if you’re running a local restaurant, retail shop, or service business. Beyond Open changes that equation entirely. These grants don’t need repayment. Zero. Zilch. Nada. You get the funding to buy equipment, upgrade technology, stock inventory, or even purchase real estate—without adding a dime of debt to your balance sheet. It’s exactly the kind of business funding that can transform a small operation into something much bigger.

The program specifically targets diverse business owners. If you identify as minority, woman, veteran, LGBTQ+, or living with disabilities, this grant was designed with you in mind. But location matters just as much as diversity. Your business must operate within one of Charlotte’s six designated Corridors of Opportunity: Beatties Ford Road/Rozzelles Ferry Road, Albemarle Road/Central Avenue, I-85/Sugar Creek Road, West Boulevard, Graham Street/North Tryon Street, or Freedom Drive/Wilkinson. These areas have been historically underinvested, which is why North Carolina grant programs like this are so crucial for economic development.

What makes this Charlotte Grant stand out from the crowd? It’s the sheer scale and commitment. Beyond Open didn’t just meet its initial $15 million goal—it exceeded it, demonstrating the massive need for capital access in Charlotte’s diverse business community. The program has supported everything from soul food cafes and skate shops to daycare centers and transportation services, proving that capital investments in these businesses create ripple effects throughout entire neighborhoods. And the numbers don’t lie—89% of Round 1 grantees reported increases in jobs, creating 214 new positions and preserving 450 more. That’s real impact you can see in women-owned businesses and other diverse enterprises across the city.

What They’re Really Looking For

Beyond Open isn’t just writing checks to any business that asks. The review process is rigorous, with at least two independent evaluators scoring each application. They’re looking for businesses that can clearly connect their asset purchases to tangible impacts on business vitality and community economic development. Think jobs created or retained, revenue growth potential, and how your business contributes to reducing poverty and fighting discrimination in your corridor. It’s not just about the money—it’s about creating lasting change in communities that need it most, similar to what other minority business grants aim to achieve.

The selection committee wants to see that you’ve done your homework. Successful applicants demonstrate a deep understanding of their market, clear financial planning, and a compelling vision for how the capital assets will transform their business operations. They’re particularly interested in businesses that plan to use the funding to break into affluent areas where minority business owners have been historically underrepresented. Take Carmen Blackmon, for example—she used her Beyond Open grant to purchase technology for her tutoring center and saw a 20% revenue increase just two months later, allowing her to hire five certified tutors. That’s exactly the kind of success story that makes veteran business grants and other targeted funding programs so valuable.

Common Mistakes to Avoid

Don’t be the applicant who rushes through the process. The Beyond Open team received over 4,000 applications across three rounds, but only funded 402 businesses. That’s a 10% success rate at best. The most common mistake? Incomplete or inaccurate documentation. Double-check every number, verify your business address is within a qualifying corridor, and ensure all required documents are saved as PDFs before you start the application. It’s the kind of attention to detail that matters for all disability business grants and competitive funding opportunities.

Another pitfall is failing to clearly articulate the connection between the assets you want to purchase and your business growth strategy. The committee needs to see the logical thread between that new commercial oven and your ability to serve more customers, or between that upgraded software system and your plan to expand into new markets. Vague statements about “growing the business” won’t cut it. You need to show them exactly how this investment will create measurable impact, just like successful applicants for LGBTQ+ business grants must demonstrate their community impact.

A Look at Past Winners

Beyond Open’s grantee roster reads like a who’s who of Charlotte’s emerging diverse business scene. Thoughtful Baking Co., owned by Mary Jane Wilson, used grant funds to scale up production equipment. Hard Grinderz, Howard Glover’s vision, invested in specialized grinding machinery. Chicken Box Café, co-owned by Erica Williams, expanded their kitchen capacity to meet growing demand for Charlotte’s original soul food. These are exactly the kinds of success stories that inspire more startup business grants and entrepreneurial funding programs.

These winners share common traits: they’re rooted in their communities, they understand their customers deeply, and they had clear plans for how capital investments would accelerate their growth. The program has funded businesses across industries—94% of grantees identify as people of color, 51% are woman-owned, and 83% are solopreneurs or businesses with 10 or fewer employees. This isn’t just about big businesses getting bigger; it’s about empowering the small businesses that form the backbone of Charlotte’s neighborhoods. It’s why programs like Home For Dreams Black Business Grants are so essential for economic equity.

The 3-Point Checklist for a Winning Application

First, confirm your eligibility inside and out. Are you located within one of the six Corridors of Opportunity? Have you been in business for at least a year? Does your annual revenue fall between $30,000 and $5 million? Do you have between 1 and 200 employees? If you can’t check all these boxes, don’t waste your time applying. The same goes for most nonprofit grants and other competitive funding opportunities—eligibility is key.

Second, prepare your documentation meticulously. Beyond Open requires proof of business registration, financial statements, and detailed documentation about the assets you plan to purchase. Save everything as PDFs with clear, descriptive filenames. The application system won’t accept Word documents or other formats, and incomplete applications get disqualified immediately. It’s the same level of preparation needed for Secretsos Small Business Grants and other professional funding applications.

Third, craft a compelling narrative that connects your asset purchase to community impact. How will this equipment help you hire more local residents? How will this technology allow you to serve more customers from underserved populations? How does your business contribute to the economic vitality of your corridor? Answer these questions specifically and with data where possible. This storytelling approach is what makes successful applications for IFW Poker Power Play Grant and other major funding opportunities stand out.

Timeline/Key Dates

Beyond Open has completed three rounds of funding as of 2024, with the final round concluding in November. While the current application window is closed, the program’s massive success suggests similar initiatives may follow. Stay connected with Beyond Open’s community partners and the Grantaura platform for updates on future funding opportunities. The typical timeline for each round includes:
– Application period: 4-6 weeks
– Review period: 8-10 weeks
– Announcement of grantees: 2-4 weeks after review completion
– Funding disbursement: 30-60 days after acceptance

And if you’re looking for other individual grants and funding opportunities while you wait, Grantaura’s free platform has hundreds of options to explore.

Q: What types of businesses are eligible for the Charlotte Grant?
A: For-profit diverse-owned businesses (minority, woman, veteran, LGBTQ+, disabled) with 1-200 employees, operating for at least one year, with annual revenue between $30,000 and $5 million.

Q: Where exactly must my business be located?
A: Your business must physically operate within one of Charlotte’s six Corridors of Opportunity: Beatties Ford/Rozzelles Ferry, Albemarle/Central, I-85/Sugar Creek, West Boulevard, Graham/North Tryon, or Freedom/Wilkinson.

Q: What can I use the grant money for?
A: Capital assets including equipment, technology, inventory, and real estate. No operating expenses, salaries, or debt repayment.

Q: How competitive is this Charlotte Grant?
A: Extremely competitive. Round 1 saw 3,200 applications for just 180 grants—a 5.6% success rate. Thorough preparation is essential.

Q: Do I need to repay the grant?
A: No. Beyond Open grants are non-repayable awards, not loans.

Maximizing Your Chances: Insider Strategies

Let’s talk strategy. The most successful Beyond Open applicants didn’t just submit applications—they built relationships with the program’s community partners before applying. Organizations like the Charlotte Mecklenburg Black Chamber of Commerce, Latin American Chamber of Commerce of Charlotte, and Women’s Business Center of Charlotte offered application workshops and one-on-one support. Smart applicants took advantage of these resources to refine their proposals. It’s the same approach that works for minority entrepreneur grants and other specialized funding programs.

Another insider tip: focus your asset request on items that directly generate revenue or significantly reduce costs. The review committee responds well to requests that clearly demonstrate ROI. For example, a restaurant requesting a new POS system that will reduce wait times and increase table turns is more compelling than a general request for “kitchen equipment.” Tony Pham, owner of Saigon Night Restaurant and Karaoke Bar, used his grant to make necessary building repairs that allowed him to add food service to his business—creating a place where “different people come together, create connections and friendships in the community.” That’s the kind of transformative impact that makes women entrepreneur grants and other targeted funding so powerful.

Finally, don’t go it alone. The application process is complex, and the stakes are high. Consider working with grant writing experts who understand what Beyond Open’s reviewers are looking for. At Grantaura, we’ve helped numerous businesses navigate competitive grant processes successfully. Sometimes, a fresh pair of expert eyes can make the difference between a rejected application and a funded business transformation. We’ve seen it happen time and again with global grant opportunities and local funding programs alike.

Honestly, putting together a proposal this complex is a huge task. If you’re serious about this and want a second pair of expert eyes, that’s what we do at Grantaura. A little bit of help on the grant proposal can make all the difference. CLICK HERE to get the GRANT PROPOSAL WRITING help.

Donor: Foundation For The Carolinas, Wells Fargo Open for Business Fund

Focus: Small business funding, capital assets, economic mobility, diverse entrepreneurs, Charlotte economic development

Region: Charlotte, Mecklenburg County, North Carolina, United States

Eligibility:
– For-profit small businesses only (nonprofits not eligible in latest round)
– Diverse ownership (minority, woman, veteran, LGBTQ+, persons with disabilities)
– Physical location within one of six Corridors of Opportunity in Charlotte
– 1-200 employees
– Minimum one year in business
– Annual revenue between $30,000 and $5 million

Benefits:
– Financial Award: $10,000 to $150,000 in non-repayable grant funding
– Technical Assistance: Access to application support and business resources
– Community Network: Connection to local business support organizations

Deadline: Ongoing

More Grants:
1. Secretsos™ Small Business Grants USA offers quarterly $2,500 business grants for underserved entrepreneurs with complete spending flexibility and no business plan requirement. This Charlotte Grant alternative provides faster funding with less paperwork, perfect for businesses needing immediate capital injections.

2. Home For Dreams: $25K Black Business Grants combines substantial funding with six months of mentorship, creating a comprehensive support system for Black entrepreneurs in Charlotte and beyond. While smaller than Beyond Open’s maximum award, the mentorship component adds significant value.

3. TRANSFORM Business Grant provides funding for systemically marginalized entrepreneurs making social impact, complementing Beyond Open’s mission to support underrepresented business owners in Charlotte’s economic landscape.

4. Business & Enterprise Grants on Grantaura features 96+ active opportunities ranging from innovation funding to market expansion support. This curated collection includes both local and national funding sources that complement the Charlotte Grant ecosystem.

5. North Carolina Grants provides location-specific funding opportunities for businesses across the state, including specialized programs for rural development, technology adoption, and workforce training that may benefit Charlotte businesses.

6. Women’s Business Grants focuses specifically on funding opportunities for female entrepreneurs, featuring programs that address the unique challenges women face in accessing capital and growing their businesses.

7. Minority Business Grants offers targeted funding for entrepreneurs of color, including specialized programs for various ethnic groups and industries where minority representation has been historically low.

8. Veteran Business Grants provides funding opportunities specifically for service members transitioning to entrepreneurship, with programs that understand the unique skills and challenges of veteran business owners.

9. Disability Business Grants features funding opportunities for entrepreneurs with disabilities, including adaptive equipment grants and business development support tailored to accessibility needs.

10. LGBTQ+ Business Grants offers inclusive funding opportunities for queer entrepreneurs, with programs that understand the specific barriers faced by LGBTQ+ business owners.

11. Startup Business Grants provides early-stage funding options for new businesses, including microgrants and seed funding that can help launch ventures in Charlotte’s emerging industries.

12. IFW Poker Power Play Grant offers revolutionary $100K grant money for small business owners through a unique competition format with mentorship and coaching components.

The Charlotte grants landscape extends far Beyond Open. Grantaura’s free platform connects entrepreneurs with hundreds of funding opportunities tailored to their specific needs, demographics, and business stages. By creating a profile and setting up custom alerts, businesses can discover new Charlotte grant programs as soon as they’re announced, ensuring they never miss a funding opportunity that could transform their business trajectory.

Terms:
– Capital Assets: Tangible property used in business operations with a useful life extending beyond one year. For Beyond Open, this includes equipment, technology, inventory, and real estate that directly contribute to business growth and job creation.
– Corridors of Opportunity: Six strategically designated areas in Charlotte (Beatties Ford/Rozzelles Ferry, Albemarle/Central, I-85/Sugar Creek, West Boulevard, Graham/North Tryon, Freedom/Wilkinson) identified for targeted investment to combat historical underinvestment and economic disparity.
– Diverse-Owned Business: Enterprises at least 51% owned and controlled by individuals from underrepresented groups, including racial minorities, women, veterans, LGBTQ+ persons, and individuals with disabilities.
– Economic Mobility: The ability of individuals, families, or communities to improve their economic status over time. Beyond Open aims to enhance mobility through business asset development and job creation in underserved areas.
– Non-Repayable Grant: Funding that does not require repayment or equity exchange, unlike loans or venture capital investments. This Charlotte grants model allows businesses to grow without debt burden.
– Competitive Grant Program: A funding initiative where applications are evaluated against set criteria, with only the highest-scoring proposals receiving awards. Beyond Open’s competitive nature means thorough preparation is essential.
– Asset-Based Funding: Financial support specifically for purchasing or improving business assets rather than covering operational expenses. This approach ensures long-term business capacity building.
– Community Impact: The broader economic and social effects of business investments, including job creation, neighborhood revitalization, and increased access to goods and services in underserved areas.
– Grant Review Process: The systematic evaluation of applications by independent reviewers using standardized criteria to ensure fair and objective funding decisions.
– Small Business Criteria: Specific eligibility requirements, including employee count (1-200), revenue thresholds ($30K-$5M), and operational history (minimum one year) that define qualifying businesses for this Charlotte grant.
– Financial Documentation: Required record,s including business registration, tax returns, financial statements, and asset quotes that verify eligibility and funding requests.
– Technical Assistance: Support services provided to help applicants prepare strong proposals and implement funded projects successfully, including workshops, one-on-one coaching, and resource referrals.
– Equitable Investment: Funding strategies designed to address historical disparities and ensure fair access to capital for businesses in underserved communities and underrepresented demographics.
– Sustainable Growth: Business expansion that maintains profitability while creating long-term value for owners, employees, and communities—a key goal of Beyond Open’s funding model.
– Vendor Diversity: The practice of sourcing goods and services from diverse-owned businesses, which Beyond Open grantees are encouraged to support as part of their community impact.
– Workforce Development: Activities that improve the skills, knowledge, and employability of workers, often supported by businesses that expand through grant funding like this Charlotte grant program.
– Neighborhood Revitalization: The process of improving depressed or underinvested areas through business development, infrastructure improvements, and increased economic activity—core to Beyond Open’s mission.
– Access to Capital: The ability of businesses to obtain funding, a significant challenge in underserved communities that Beyond Open directly addresses through non-repayable grants.
– Inclusive Entrepreneurship: Business ownership opportunities extended to all demographic groups, with targeted support for those facing systemic barriers to starting and growing businesses.
– Ecosystem Building: Creating interconnected networks of businesses, support organizations, and resources that strengthen local economies—Beyond Open contributes to this through its community partnerships.
– Procurement Opportunities: Chances for businesses to sell products or services to larger organizations, often expanded through the capacity building enabled by grant funding.
– Business Resilience: The ability to withstand economic shocks and adapt to changing conditions, enhanced by the asset investments supported by this Charlotte grant initiative.

Author: Imran Ahmad founded Grantaura after witnessing too many passionate entrepreneurs in Charlotte and beyond struggle to secure the funding they needed to turn their visions into reality. Growing up in a community where small businesses were the lifeblood of neighborhoods, he saw firsthand how access to capital could make or break a dream. The Beyond Open grant represents exactly the kind of targeted, thoughtful investment that can transform not just individual businesses but entire communities. Having worked with over 300 clients to secure more than $16 million in funding, Imran understands the unique challenges diverse business owners face in Charlotte’s competitive landscape.