Providence Academy Small Business Incubator Project

What is Providence Academy?

Location: 400 E. Evergreen Blvd.

Providence Academy was designed and built in 1873 by Mother Joseph of the Sacred Heart, and has served the Vancouver community with many uses over the past century and a half. Since 2015, the Historic Trust has owned, operated, and preserved this remarkable architectural treasure.

What is the Small Business Incubator Program?

The Academy has been an informal small-business incubator for years due to its wide range of office sizes and competitive rental rates. Many local businesses – ranging from service providers to small manufacturers – have launched from the Academy after finding their footing here.

The Historic Trust is pleased to partner with program sponsors to uplift entrepreneurs, new businesses, and established up-and-coming businesses through the Small Business Incubator Program grant application process, intended to allow recipients to stabilize and grow to a point of sustainability.

Successful applicants will receive significant underwriting support – tiered every 6 months – for the first 18 months of their Providence Academy office space lease:

  • First 6 months: awardee pays 25% of lease cost
  • Month 7–12: awardee pays 50% of lease cost
  • Month 13-18: awardee pays 75% of lease cost

The monthly lease includes utilities (water, sewer, garbage, electricity).

What spaces are available?

Specific Providence Academy suites have been identified for this program in a range of sizes:

Small
Approximately 250 square feet. Examples of previous/current businesses in this size space: counseling, locksmith, insurance agent, realtor, writer, small nonprofit, massage therapist, aesthetics services.

Medium
Approximately 760 square feet. Suitable for collaborative office, co-working, or yoga studio.

Large
Approximately 1,640 square feet. Suitable for fine arts, textiles, or aesthetics/beauty. Previous lessee produced handmade doll clothes, becoming so successful they outgrew the space.

All spaces include: on-site property manager available Mon.-Fri. 8am-5pm, key code access to secure building, free indoor bicycle parking (locked room), free 4-hour visitor parking for clients as available, janitorial cleaning & paper products for all shared restrooms, shared waiting rooms and hallways. Not included: internet, cleaning of individual offices, reserved tenant parking (available for $100 per month per vehicle).

 How does a small business or entrepreneur apply?

Applications are scheduled to open in January, 2025. Please check back to access the application link.

Eligibility Requirements:

  • Must be a new or established business with a three to five-year business plan and a financial plan which outlines a path to sustainability. These should include:
    • Company summary
    • Product/service summary
    • Market analysis summary
    • Challenges, opportunities, and strategies to maximize success
    • Two-year projected income, expenses, net profit, etc. detailing/explaining your projections (a profit/loss statement does not provide enough detail)
    • Description of other resources you will need (outside this potential grant) to execute your plan such as: financing, tenant improvements (per landlord guidelines & approval, see Providence Academy Rules & Regulations), fixtures & equipment, marketing, payroll services, etc.
    • Resume and management history for yourself and top company/organization leadership
    • Projected number of full & part time employees
    • Start-up summary, listing initial sources & uses (if applicable)
    • Community impact summary, stating why your business plan stands out from other applicants
  • Must be a registered member of the Greater Vancouver Chamber (GVCC) Business POD program. Registration is free, visit https://www.vancouverusa.com/business-owners/businesspod/
  • Must have completed at least two hours of coaching/consultation with a GVCC Business POD Mentor or SCORE Mentor. To request a local SCORE mentor at no cost, visit https://www.score.org/swwashington/local-mentors
  • Must have office space needs matching the spaces available at the Providence Academy building. Applicants are strongly encouraged to make an appointment for a site visit, call 360.992.1807 to schedule (see suite size options above).
  • Must be willing to participate in check-in meetings (with your Business POD or SCORE Mentor) every 6 months during participation in the program, corresponding with each tiered level of grant subsidy.
  • If selected, must be willing to submit a $50 screening fee and undergo credit check, background check, sign custom lease agreement, acquire and maintain renters insurance throughout the duration of the lease.
  • Additional points will be awarded for businesses who are (these are not required):
    • Current members of the Vancouver’s Downtown Association
    • Current members of the Greater Vancouver Chamber of Commerce
    • BIPOC-owned/led
    • Female-owned/led
    • Economically disadvantaged

Applications will be accepted on a rolling basis starting January 1, 2025, with review, scoring, and determination of grant award(s) being made once per quarter by the committee.

Please check back after January 1, 2025 for further details and link to apply