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Tuesday, October 19, 2021

ERDA Awarding Two Competitive $10,000 Micro-Enterprise Grants in 2021

Enid is known as an entrepreneurial community.  Many of our largest employers today started as a “micro enterprise”.  Micro enterprises are our smallest businesses that have one sole proprietor and fewer than six employees. Often, these businesses are self-funded and can have a difficult time securing traditional financing. Understanding the challenges our smallest businesses face, the Enid Regional Development Alliance (ERDA) offers an annual competitive grant program targeted specifically at this audience.

In 2021, ERDA will award (2) $10,000 grants to two micro enterprises. The funds received through this grant can be used for any business expense necessary for the operation, management, formation, or expansion of the company.  

In 2020, ERDA awarded its first Micro Enterprise Grant to Latoya Peyton, owner of Sunny Moon Daycare. The $5,000 grant allowed Ms. Peyton to purchase new equipment, receive training, and buy educational material for the children in her care.

Small business owners are an integral part of Enid and economic growth in the community. This year, the impact of COVID-19 has been felt by many of our small businesses. In response to the need, ERDA is expanding our grant program by awarding two grants in this cycle and by increasing the grant amount. We are hopeful that these funds can help our local entrepreneurs to rebuild and grow following the economic turmoil of this past year.  Grant funds may be used for rent, payroll, inventory, software, marketing, equipment, renovations, and other business expenses.

Applications will be scored on the viability of the business, the potential for growth, and the overall economic impact. Recipients must be willing to partner with ERDA and Autry Technology Center on their success through coaching and other business assistance. Priority is given to companies who make a product.

Those interested in applying for the grant may turn in an application by 5:00 pm on April 30, 2021, by emailing it to trent@growenid.com or delivering it to the office at 2020 Willow Run, Ste. 100. For more information and to download the application, visit www.growenid.com/local-incentives or contact Trent Misak at 580.233.4232 or trent@growenid.com.

Lisa Powell
Lisa Powellhttp://www.growenid.com
The Enid Economic Development Corner provides insight into economic development and the impact it has on our community. Our hope is to engage readers learn more about the work that goes into making Enid the best place to live, work, and grow.

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