Augusta plans new fund, entrepreneur training program

AUGUSTA, Ga. (WRDW/WAGT) - The city of Augusta has announced the plans for a new local business fund in addition to launching an entrepreneurship training program.

In partnership with the Greater Augusta Black Chamber of Commerce, the city announced plans for the City of Augusta Business Equity Fund and a $425,000 guaranteed loan and grant training program funded by the city.

This program will provide entrepreneurs and minority small business owners with training and capital. It is funded through Augusta’s allocation from the American Rescue Plan Act.

The initiative is part of the city’s continued effort to support sustainable businesses and economic opportunity by focusing on small businesses training and providing a guaranteed economic opportunity.

“The partnership with the City of Augusta will help to continue to carry out the Greater Augusta Black Chamber of Commerce’s mission to foster economic stability for businesses in the CSRA through advocacy, education, networking, discovery, and these strategic partnerships,” the chamber said.

The goal is that these entrepreneurs can connect and collaborate bravely in the water of business and commerce. This unique program offers entrepreneurs both training in business fundamentals and access to capital upon program completion.

The CABE Fund Program will offer a comprehensive, innovative approach to assist both new and existing entrepreneurs with the following:

• Four weeks of training, and an additional six weeks of coaching and mentorship for new and existing minority-owned business owners and entrepreneurs.
• The additional six weeks of coaching and mentorship are critical components of the program to ensure that participants stay engaged, are taking actionable next steps, and have the support they need to succeed.
• At the end of the program, guaranteed grants/loans will be provided after all criteria are met within program guidelines.
• Courses from subject matter experts from the southeast and the CSRA that are from a similar demographic.
• Training components include- Introduction to Entrepreneurship, Business Planning Basics, Business Structure 101, Bookkeeping & Recordkeeping, Business Insurance 101, Business Marketing/Branding 101, Growing Your Business and Obtaining Your First Customer, Credit Essentials, Reporting and Tracking cash flow, and Running a successful Business.

To learn more, visit either the Greater Augusta Black Chamber of Commerce or the City of Augusta websites.

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