What is UpStart Cocoa?

UpStart Cocoa is a small business development program designed to empower entrepreneurs to succeed in Cocoa, attract Minority-Owned Businesses to the City, contribute to the City's economic vitality by promoting small business, and to cultivate vibrant neighborhoods through diverse businesses in Cocoa. The Program is designed as a forgivable loan program, which may be awarded after successful completion of business coaching and educational training for entrepreneurs offered through the weVENTURE Program. Loans are available up to $10,000 which includes $2,500 towards the weVENTURE program and $7,500 for eligible refundable expenses.

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1. What is UpStart Cocoa?
2. Am I eligible to apply for an UpStart Cocoa Forgivable Loan?
3. What is the community enrichment requirement of the program?
4. How will the funds be provided to the chosen business?
5. What is the purpose of the weVENTURE portion of the program?
6. Who is on the UpStart Cocoa and UpStart Diamond Square review committees?
7. How will applications be reviewed?
8. What factors will the review committee use for funding recommendations?
9. What are the conditions of the loan agreement once funding recommendations have been made to City Council?
10. How do I get reimbursed for eligible expenses?
11. What happens if I do not comply with the terms of the loan agreement?