Momentum 360 Financial Academy, a four-week program sponsored by the City of Durham’s Office of Economic and Workforce Development, is accepting applications for its fall cohort. The academy aims to provide microenterprises – small businesses with five or fewer employees – with the tools to effectively manage financial records and accounting systems.
Business owners will learn financial literacy, and how to prepare for growth and plan for retirement. The virtual classroom program will take place on Tuesdays and Thursdays, Oct. 10 through Nov. 18, from 8-10 a.m., with additional opportunities to connect one-on-one with finance instructors from Infinity Bridges and My Local CFO.
This is the first of five cohorts that will take place over the next year, made possible by funding from the U.S. Department of Housing and Urban Development and a partnership between the City’s Office of Economic and Workforce Development and the Community Development Department. Graduates can apply for grant funding of up to $20,000 for business-related expenses and an accounting software subscription.
Here are the qualifications for businesses:
- Must be located and currently operating in Durham County
- Must have five or fewer employees, one of whom owns the enterprise
- Business owners must be considered low-to-moderate income by the U.S. Department of Housing and Urban Development
- Businesses must be for-profit, including sole proprietorships, independent contractors and home-based businesses
Learn more about the program during a virtual information session on Sept. 13 from 9:30-10 a.m. For additional information and to apply to this cohort, click here or contact Victoria Gonzalez with the City’s Office of Economic and Workforce Development at firstname.lastname@example.org or 919- 560-4965, ext. 15221.