The Freed Fellowship Grant is a privately funded initiative operated by Freed Fellowship LLC aimed at supporting overlooked and underrepresented micro and small business owners across the United States. This monthly grant program awards $500 with no strings attached to one selected applicant, designated as a Freed Fellow. The grant is unrestricted and does not require equity exchange or repayment. Additionally, selected Fellows are automatically considered for an annual $2,500 year-end grant. The Freed Fellowship is focused on not just financial support but also business development, providing all applicants with feedback and access to a vibrant mentoring community.

The Freed Fellowship program uses a unique evaluative model called the 5C Framework, which assesses applicants across five core areas: Context, Content, Community, Chemistry, and Commerce. This framework serves as the foundation for both the grant selection process and the feedback that is offered to all applicants, regardless of whether they are awarded the grant. Applicants receive a "Freed Score" and tailored recommendations to support the growth of their business.

To apply, individuals must complete an online application form and pay a $19 application fee. The application involves a series of questions designed to assess the applicant’s business within the context of the 5C Framework. Applications are accepted on a rolling basis, with the cutoff for each month’s cycle being the last calendar day of that month by midnight Eastern Time. Applicants are typically notified with feedback and grant decisions by the end of the following month.

Recipients of the Freed Fellowship receive several non-monetary benefits in addition to the $500 grant. These include a one-on-one 60-minute business strategy session with the Freed founding team, valued at $1,000, an invitation to be featured on the Freed Stories Podcast, and a one-year membership in the Freed Studio. The Studio is an online mentoring and support community designed to help entrepreneurs implement growth strategies and reach their first or next $1 million in revenue.

Eligibility for the grant is limited to for-profit micro or small business owners operating in the United States. Freed Fellowship does not currently support nonprofit organizations. While the program is open to all eligible applicants, there is a particular focus on encouraging applications from women, minorities, and others considered to be underrepresented or overlooked in traditional funding spaces.

There is no specific contact person listed for the grant, and no email or phone number is provided for applicant inquiries. The grant does not operate on a set open or close date but is instead available continuously with monthly review cycles. Since the grant is privately funded and not supported by external government or nonprofit sources, the application fee helps cover administrative costs. The organization has stated that it is exploring potential scholarship or sponsorship models to assist applicants who are unable to afford the fee.