Over $200,000 is being awarded to minority-owned small businesses in Forsyth County this year.
The Minority Business Enterprise (MBE) grant fund, which launched in 2020, will give a total of $1.2 million over five years to Black and Latinx-owned small businesses in Winston-Salem and Forsyth County.
This year, 17 local entrepreneurs have been selected. They'll receive a total of $219,715 in funding to help advance their growth in the new year.
Sherman's Drop-In is one of the recipients. The after-school care and tutoring service is getting $15,000. Owner Bryce Sherman says the money will help with staffing, and allow them to pay more competitive salaries.
“A lot of times we have kids on a waiting list, and we can't accept all the kids that we have,” says Sherman. “So this helps us hire more staff, put more personnel in the building where we can accommodate and have more kids to come in, tell parents about it, go from there.”
The MBE grant is managed by an advisory committee made up of Black and Latinx business leaders in Forsyth County. Greater Winston-Salem, Inc. provides financial oversight and organizational structure for the program.