Groundswell Capital in partnership with the City of Tucson has initiated a significant boost for local small businesses through the introduction of the Changemakers Grant Program. This program, spearheaded by CEO Dre Thompson, aims to inject $1 million into the local business ecosystem, providing crucial support for expansion and growth.

Dre Thompson’s Vision: Flexible Funding for Small Business Expansion

Thompson, the CEO of Groundswell Capital, unveiled the innovative Changemakers Grant Program as a means to offer small businesses flexible and cost-free capital to bolster their growth prospects. Notably, the program includes a substantial sum of $500,000 designated solely for dispersing grants to qualifying small businesses. Additionally, an extra half a million dollars has been allocated for low-interest loans specifically tailored to further aid these small enterprises.

Range of Grants Available and Emphasis on Startup Support

Thompson elaborated on the diverse range of grants within the program, varying from $5,000 to $10,000, with a specific emphasis on the unique opportunity it provides for startups. Of particular interest is the provision of funding, up to $5,000, aimed explicitly at kickstarting brand-new businesses in Tucson—a rare and exciting opportunity rarely available through such initiatives.

Impact on Entrepreneurs: Drew Berryhill’s Experience with Drutopia

An entrepreneur benefiting from this initiative is Drew Berryhill, the owner of Drutopia, who found immense value in the grant to amplify his business’s reach and community impact. Despite initial skepticism, Berryhill’s alignment with the program’s mission and values prompted him to apply for the grant, which has significantly altered his perspective.

Berryhill, who founded Drutopia four years ago, expressed gratitude for the support provided by the program, particularly as a sole proprietor. He emphasized the personal significance of this assistance and its alignment with his aspirations, aiming to honor his late mother’s legacy through his business pursuits.

Program Impact: Cultivating Business Growth and Personal Legacies

The Changemakers Grant Program doesn’t just infuse capital into small businesses but also serves as a beacon of hope and opportunity for entrepreneurs like Berryhill. It not only supports economic growth but also holds personal significance for those striving to achieve their aspirations while honoring the legacies of loved ones.

Significance of Support for Small Business Growth

According to the Small Business Administration (SBA), small businesses account for 99.9% of all businesses in the United States and employ almost 47.1% of the private workforce. Supporting these entities not only sustains local economies but also fosters innovation and community development.

Conclusion

The collaboration between Groundswell Capital and the City of Tucson in launching the Changemakers Grant Program exemplifies a concerted effort to bolster local economic growth. Through flexible funding, tailored grants, and loans, this initiative is not only a lifeline for small businesses but also a testament to the power of community-driven support in fostering entrepreneurship and honoring personal legacies.