Momentum 360: Financial Academy for Microenterprise

Looking for information about past cohorts? Visit this page.

About the Program

Every thriving business needs a financial accounting system and proper financial records. That's why the City of Durham is collaborating with La-Tasha Best-Gaddy of Infinity Bridges, Inc. and Cherelle James of My Local CFO, Inc. to provide personal, high-quality financial education to local business owners.

Momentum Financial Academy aims to help microbusinesses create and organize their financial recordkeeping systems. For four weeks, you'll work side-by-side with a cohort of other microbusinesses to learn essential financial strategies. The program also includes confidential one-on-one counseling sessions where you can ask specific questions about your business! 

Graduates of the program will have the opportunity to apply for up to $20,000 in grant funding that can be used for business-related expenses. Participants who do not have an established accounting system can also apply to receive a software subscription as part of the program.

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Eligibility Requirements - What is a Microenterprise? 

A microenterprise, also known as a microbusiness, is defined as a business that has five or fewer employees, one or more of whom owns the enterprise. Your business must be considered a microenterprise to be eligible for this program. Other requirements include:

  • Businesses located within Durham County
  • Business is currently operating
  • Business is for-profit, including but not limited to: sole proprietorships, independent contractors, and home-based businesses
  • Business is considered low-to-moderate income by the U.S. Department of Housing and Urban Development. Learn more here.

What You'll Learn

  • Recordkeeping and cash flow reporting
  • Tax planning methods
  • Business profit and loss projection
  • The ins and outs of accounting systems such as Quickbooks Online
  • How to improve the overall financial health of your business
  • And more!

Class Details

Momentum Financial Academy will be conducted via online meetings over a four-week period. We will meet on Tuesday and Thursday every week, and each session will last two hours from 8am - 10am. The cohort will meet in a virtual classroom setting, and each participant will have the chance for one-on-one interaction with the instructors as well.

Proud to Partner With:

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Application

Applications for the first cohort closed on September 18. 

You may still submit an application here, which may be considered for future 2022-2023 cohorts.

Watch an Informational Video to Learn More!

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