The Small Business Community Impact Fund
Microgrants & pro-bono technical assistance for local business growth
Overview
The Jay Hurt Hub for Innovation & Entrepreneurship at Davidson College is proud to launch The Community Impact Fund, a microgrant and technical assistance program built specifically for small business owners.
Generously supported by the Duke Energy Foundation, this initiative empowers regional businesses with accessible capital and dedicated, hands-on consulting to drive long-term growth and resilience.
Through a competitive application process, selected North Carolina small businesses will receive up to $5,000 in direct microgrant funding paired with customized technical assistance from the Davidson College Consulting Group. Designed to meet entrepreneurs where they are, the Fund delivers the tools, strategic guidance, and flexible capital needed to expand capacity, boost revenue, and scale with confidence.
Apply Here by October 19thFundinfo
5-7 Selected businesses will be awarded a comprehensive growth package:
- Microgrants of $2,500 to $5,000: Funding for high-impact capital investments like new equipment, technology, inventory, or site upgrades.
- 6 Weeks of dedicated technical assistance: Pro-bono support provided by the Davidson College Consulting Group (DCCG)—a team of top student consultants guiding you through tailor-made projects in marketing, data analysis, web usability, or market research starting in February.
- Regional recognition: Winners will be recognized at the Hurt Hub’s annual Innovation Showcase on November 18th.
To be eligible for funding, businesses must meet the following criteria at the time of application:
- Business age: Registered as a business for at least 6 months.
- Location: Located and operating within a 25-mile radius of Davidson, NC (Includes portions of Mecklenburg, Iredell, Cabarrus, Gaston, and Lincoln counties).
- Team size: Employ fewer than 100 employees.
- Use of funds & technical assistance: Applying for funding in an approved category (see chart below) with need for Technical Assistance in one of the available areas (see below)
Note: Current Davidson College students are not eligible for this fund and are encouraged to apply for the Avinger Impact Fund.
| Eligible expenses | Ineligible expenses |
|---|---|
| Equipment upgrades or purchases | Payroll & salaries |
| Inventory expansion | Rent |
| Technology hardware or software upgrades | Utilities |
| Site improvements & facility enhancements | Standard operational overhead |
In addition to funding, awardees select one project area for specialized consulting with the Davidson College Consulting Group:
- Market research: Customer surveys, market positioning, competitor analysis, industry trends, and segmentation.
- Marketing & strategy: Go-to-market planning, content strategy, copywriting, and marketing collateral.
- Digital & web development: Website audits, SEO strategy, and website usability improvements.
- Data & AI: AI strategy development and operational data analysis
| September 18 | Applications open on the Hurt Hub website, Info Sessions begin |
| October 8 | Strategic Advising Office Hours begin |
| October 19 | Applications close |
| October 26 | Volunteer Evaluation Committee identifies finalists |
| November 18 | Award announcements at the Innovation Showcase |
| December (mid Dec) | Funds distributed to awardees |
| February 1 | Business check-ins begin; DCCG consulting projects launch |
| June 1 | Final update due from awardees |
Applications are scored using a standardized rubric by an external volunteer evaluation committee composed of economic development professionals and small business leaders.
Strong applications will demonstrate:
- A clear plan for how requested funds will address a specific operational gap or opportunity.
- Alignment between the grant investment, technical assistance project choice, and expected 1–3 year business growth.
- Realistic and measurable target outcomes (e.g., increased revenue, expanded capacity, or job retention).
How to prepare &
get support
We're here to help you put forward your strongest possible application and map out a project that delivers real results. Before you apply, take advantage of these opportunities to learn more about the program and refine your project goals with our team.
-
Attend a group info session (webinar)
- What to expect: A high-level overview of the program structure, application timeline, expectations, and selection criteria.
- Best for: Anyone who wants a clear walkthrough of the process or has general questions about eligibility and timelines
- Why attend: You’ll get clarity on how the program works and be able to ask questions at a high level
- When: September 18 at 12pm or September 21 at 9am
-
Book strategic advising office hours
- What to expect: 30 minutes 1-on-1 time with Hurt Hub staff to brainstorm, unpack, and refine your specific project ideas. (Advisors are not on selection committee)
- Best for: Applicants who know what problem they want to solve, but want feedback on how to scope the project for maximum effectiveness.
- Why sign up: We’ll help you think strategically about your goals, refine your project scope, and align your ideas to create the greatest long-term impact on your business.
- When: October 8th or October 12th
Pro tip: We strongly encourage attending an Info Session first to understand the basics, then booking Advising Office Hours to fine-tune your specific project idea!
