The coronavirus pandemic has brought unprecedented challenges for small businesses, and the Black community has been hit especially hard.
The Coalition to Back Black Businesses is a multi-year initiative to support Black small business owners and the communities they serve as they recover from the COVID-19 pandemic and chart a path forward. Small businesses are critical parts of communities – the strength of these businesses is essential to the recovery of their communities.
Through the Coalition, American Express, Cummins, Optimum, Shopify, Stanley Black and Decker, the National Black Chamber of Commerce, National Business League, U.S. Black Chambers, Inc., Walker’s Legacy, and the U.S. Chamber of Commerce Foundation, will work together over the next four years to provide over $14 million in grants, training, and resources to empower Black-owned small businesses in distressed communities that have long been struggling with economic growth.
From 2020 through 2023, we will distribute $5,000 grants to applicants each fall, followed by mentorship and training, and select few will receive $25,000 enhancement grants the following summer. We hope these grants can provide some assistance to the Black business community to emerge from this crisis stronger than ever. We know the need for assistance is great, and we wish we could help everyone who needs it.
ELIGIBLE BUSINESSES MUST:
– Meet the criteria for being a Black-owned enterprise in a qualifying industry (See details below in “Who is eligible to apply?”).
– Employ between 3 and 20 people, including the owner and any full-time employees, part-time employees, or individuals working under a 1099 or similar contractual agreement.
– Be located in an economically vulnerable community, according to the Distressed Communities Index.
– Have been harmed financially by the COVID-19 pandemic.
Check out 2021 – 2022 Recipients