Detroit City Wire

Accion Opportunity Fund, LegalZoom, the NBA, WNBA, and NBA G-League have collaborated to offer grants and LegalZoom services to entrepreneurs nationwide.

Administered by the nonprofit Accion Opportunity Fund, the program aims to provide business owners with necessary tools and resources for starting and growing their businesses.

The initiative will support 150 small businesses with $10,000 grants and a LegalZoom product of their choosing, valued up to $500. Additionally, 3,000 emerging entrepreneurs who have not yet launched their intended business will receive a LegalZoom product valued at up to $500. Applications close on September 13, 2024, at 8 p.m. EST.

Eligible existing small businesses applying for a $10,000 grant and a free LegalZoom product must meet several criteria: they must be based in the United States; have been in business for at least three months; currently be in operation; have an annual revenue of less than $1 million; maintain an active business bank account; not belong to an industry deemed ineligible for this program; provide the most recent year’s business tax return if in operation for over 12 months or present one of several specified documents if in operation between three and twelve months.

Eligible emerging entrepreneurs applying for a free LegalZoom product must be based in the United States and either operate an existing business for less than three months or provide a summary of their intended business idea. They also must not belong to an industry deemed ineligible for this program.

Fast Break for Small Business is described as a multiyear, $6 million commitment aimed at assisting thousands of small businesses across the country through grants and services from LegalZoom. The partnership includes contributions from the NBA, WNBA, NBA G League, with Accion Opportunity Fund serving as the nonprofit administrator.