Web of Knowledge

Fast Break for Small Business

Accion Opportunity Fund (AOF) and LegalZoom have joined forces to provide entrepreneurs across the country with grants and LegalZoom services to support their small businesses.

HOW IT WORKS
LegalZoom, the NBA, WNBA, and NBA G League are committed to encouraging entrepreneurship by supporting and investing in Black small business owners. Tipping off at the start of Black History Month, the third of six grant cycles was open in this multi–year program. Here’s how it worked:

$10,000 grants and a free LegalZoom product of their choosing, valued at up to $500, to 50 small businesses
A free LegalZoom product of their choosing, valued at up to $500, to 1,950 additional small businesses

Applications usually are open from February 1 to Friday, February 17.

ELIGIBILITY REQUIREMENTS
Eligible small businesses must:

Be based in the United States
Must be a Black–owned business
Have been in business for at least 6 months and currently in operation
Have one of the following if in business for between 6 and 12 months:
articles of incorporation for LLCs, S Corps, and C Corps
sole proprietorship formation
fictitious name statement or DBA
EIN registration
city, state, or federal license to do business
or relevant professional license
If the business is between 6 and 12 months old but does not have any of these documents, the business is not eligible for this opportunity
Have an annual revenue of less than $1 million
Have a business bank account
Not be in an industry that has been identified as a prohibited industry for this program