The Spark small business grant and career training programs will fuel new business and employment opportunities in the mortgage industry with an initial focus on underrepresented populations.
What is the Spark Small Business Grant Program?
The Spark small business grant is designed to provide opportunities for entrepreneurs in the wholesale mortgage industry. The goal of the business grant is to provide additional resources to better equip new brokers with the tools they need to set up a successful business. Recipients can use the grant for marketing, technology, licensing, office expenses, and more to offset the costs of opening a brokerage or growing their businesses. The grant also provides additional support from the Association of Independent Mortgage Experts (AIME) and the broker community to help the recipients build sustainable business models for any market environment.
How to Prepare a Business PlanRead More
Business Plan TemplateDownload
NMLS Requirements for BrokersRead More
Frequently Asked Questions
How do I know if I am eligible to apply for a Spark program?
Please review the program qualifications for the Spark small business grant and Spark mortgage career training.
I meet the qualifications for more than one Spark program (Minorities in Mortgage and Women in Mortgage), which should I apply for?
Please apply for the grant program that best suits you. All applications will be reviewed based on the merits of their application and only one grant will be awarded at the discretion of the application review team.
I am starting the process of opening my own brokerage, can I still qualify for the small business grant if I am part-way through the process?
Spark small business grant applicants qualify if they are within the first 12 months of establishing their business. Please review the Spark eligibility criteria to make sure you qualify.
Can both myself and my business partner apply for the business grant separately if we both qualify?
To reach the most number of brokers across the country we will only accept one application per company.
Is there anything I can prepare now to be ready when applications open on December 1st?
Yes! For the small business grant, you can begin preparing your business plan, if you don’t already have one. All grant applicants can gather (2) professional, (2) community and (1) personal references. Please also update your professional resume and make sure to have a high-resolution headshot. Please read How to Apply for Spark for additional information about what is required during the application process.
Will there be any oversight of how the grant funds are used after they are distributed?
Yes, grant recipients will be required to submit Profit & Loss statements for the business following disbursement of funds.
Spark programs are made possible by the Association of Independent Mortgage Experts (AIME) with funding provided by United Wholesale Mortgage and Homepoint Foundation.