Founders of first CDC to award $25,000 to veteran-owned small business owners nationwide
Nominations are accepted from September 19 to October 18 and recipients will be announced on Veterans Day, November 11, 2022
San Diego, California, September 19, 2022 – Founders First CDC (Founders First), a national 501(c)(3) nonprofit organization that enables the expansion of diverse founder-led revenue-generating businesses, is pleased to announce that applications are open to qualified individuals to apply for its 2022 Stephen L. Tadlock Fund – a grant program to support veteran US small business owners. To be eligible, the company founder must be a US military veteran, have an active US-based business, and employ between 2 and 50 employees. Nominations are being accepted now through October 18, and recipients will be announced on Veterans Day, November 11, 2022.
Inspired by Founders First CEO Kim Folsom’s brother, U.S. Navy veteran Stephen L. Tadlock, the purpose of the grant is to provide micro-investments to veterans who own and operate small businesses. The $25,000 grant will be awarded to 25 veterans who will receive $1,000 each, which will help support their employer-based small businesses.
Since its launch, Founders First CDC has awarded more than $423,000 to minority and underserved business owners across the United States, with a focus on Texas, Chicago, Southern California, Pennsylvania and New Jersey.
“Given the current state of our economy, small business owners are feeling the brunt of the rising cost of living, inflation, and difficulty providing goods and services to their customers,” Shaylon says. Scott, executive director of Founders First CDC. “As our Founder, Kim Folsom, has strong ties to the military through her brother’s service in the US Navy, this particular grant is incredibly special for Founders First, as we are able to help veteran business owners by investing in their businesses during uncertain economic times.
Grants such as these, no matter the size of an investment, are a vital and
impactful way to help support businesses and provide opportunities for growth, and we are incredibly proud to support veterans across the country during this critical time.
According to the latest US Census Bureau survey of small business owners, there are more than 2.5 million majority veteran-owned businesses in the United States that employ more than 5 million people. As a result, these companies generate more than $1.14 trillion in revenue and account for an annual payroll of $195 billion.
“I have seen with my own eyes, through my brother’s experience in the United States Navy and his reintegration into civilian life, that American veterans give back to our country every day, and after their service it is essential that ‘they receive support from family, friends and local communities to thrive in their careers after their service,’ says Kim Folsom, founder and CEO of Founders First. essential contributors to the small business community, I’m proud to extend this fund for the second year in a row to veteran business owners who need an extra boost of funding; as these funds help help
creating high-quality, well-paying jobs and driving economic growth in the communities that need it most during this critical and uncertain economic time.
The Stephen L. Tadlock Fellowship judging committee includes a panel of distinguished veterans, representing multiple branches of service.
“As a 2021 Stephen L. Tadlock Fellowship recipient, I can tell you firsthand that this support is making an incredible impact for seasoned business owners,” says Tahjar Roamartinez, CEO and Founder of Cyber Warfighter Group. and 2021 Stephen L. Tadlock Grant recipient. “Founders First made myself and other veterans feel embraced, encouraged, equipped and empowered, and I encourage any veteran who is a small business owner to apply for this grant because you will quickly learn that Founders First understands the value of what we have done at the highest level of our nation, and is ready to help equip us for the next chapter of our journey in American business.
Qualified business owners can apply for the grant by October 18 at foundersfirstcdc.org/stephentadlock. Grant recipients will be announced on Veterans Day, November 11, 2022.