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Durham entrepreneur group presses city for $20,000 grant payouts; city cites federal compliance review, proposes March 24 deadline
Summary
Entrepreneurs who completed a city-backed Momentum Financial Academy said they were promised $20,000 grants that have not been paid. City staff said compliance issues with the federal grant source halted payments and pledged to pursue an alternate funding source and deliver checks by March 24 if conditions are met.
Local entrepreneurs who participated in a city-supported Momentum Financial Academy told the Durham City Council on Thursday they had been promised $20,000 awards after the accelerator and have waited months without payment. City staff acknowledged the delay and said federal compliance checks had paused subsequent draws; staff proposed short-term alternatives and set a tentative delivery target.
Shay Ramos, who identified himself as a local entrepreneur and business owner, told the council the Momentum Financial Academy cohort completed training last September and were told to prepare to receive $20,000 each within 30 to 45 days. "We're at almost five months. None of us have received a dollar," Ramos told the council. He said participants had incurred costs—some had…
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