Grants For Small Black Owned Businesses

Grants For Small Black Owned Businesses – NEW YORK–(BUSINESS WIRE)–American Express (NYSE: AXP) announced today that Coalition for Black Business Restoration will award an additional $25,000 improvement grant to help 25 black-owned businesses from Coalition’s 2020 grant program. . long-term success and perseverance. About 60% of grantees were Black female-owned small businesses and 75% were Black-owned businesses with six or fewer employees.

“My work and life has been a complete 180 since I got support from the Coalition to Back Black Businesses program,” said Deandre Wade, owner of Fresh Sportswear, a small business in Antioch, TN that designs and manufactures custom uniforms for sports teams. and attention to youth. “With the upgrade grant, I will move my business from my living room and purchase the necessary tools and equipment to begin mass production of our products.”

Grants For Small Black Owned Businesses

Launched in September 2020, the Coalition to Bring Back Black Business is a multi-year grant and training program with an initial commitment of $10 million to help support and empower Black-owned small businesses. Throughout 2024, the Alliance will distribute $5,000 grants to eligible Black-owned small businesses each spring, providing an opportunity to apply for a $25,000 improvement grant next spring. In addition, the Alliance provides exclusive access to mentoring programs, training and online resources to help grantees grow and manage their businesses.

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American Express launched the Coalition to Rebuild Black Business, a first-of-its-kind partnership with the American Chamber of Commerce Foundation and four major Black organizations, including the National Chamber of Commerce, the National Business Association, and the United States. Black Rooms, Inc. and Walker Heritage. The AIG Foundation℠, Altice USA (Optimum & Suddenlink), Cummins Inc., Dow and Stanley Black & Decker have jointly joined the effort by donating additional funds and resources to help advance the Alliance’s work.

In its first year, coalition partners distributed 600 grants to Black-owned small businesses in 33 states. Initial funds include paying employees, paying debts, paying taxes and electricity bills, developing e-commerce capabilities, financing the purchase of PPE, and expanding or creating business models. From 2020 grant recipients are invited to apply for additional funding through development grants to help develop and grow their businesses.

“The Black Job Restoration Alliance has given us the opportunity to reinvest in our business through marketing and advertising,” said Melissa Hyles, owner of Oak Tree Financial and Tax Services, a family business that has served Rancho. The Cucamonga, CA area has been around for over 25 years. “With the initial grant of $5,000, we were able to update our website, which allowed us to have a more visible presence on the internet. We plan to use the $25,000 renewal grant to continue investing in marketing, opening a second location and launching a mentoring program for our community. , so we can pay off the debt and give it back.”

American Express worked closely with the USA. A selection committee made up of Chamber of Commerce Foundation and Association representatives to select 25 scholarship recipients from all over the United States. 25 Black-owned small businesses receiving substantial subsidies from 14 states and 9 industries. Business and services are provided to small businesses in the retail and healthcare industries. The main reasons for applying for a renewal grant are to develop a strong online presence, move to a larger location and increase marketing efforts.

How To Access American Express’s New $10 Million Grant Program For Black Owned Small Businesses

This September, America’s most eligible Black small businesses will have the opportunity to receive assistance when applications open for 2021 Coalition for Black Business Takeback grants. For more information, please visit www.webackblackbusinesses.com.

In the fall of 2020, American Express announced a $1 billion action plan to increase the diversity of representation and promote equal opportunity for colleagues, customers, and the community. As part of this commitment, the company plans to provide financial and educational support to at least 250,000 black-owned small and medium-sized businesses by the end of 2024. The company’s previously announced initiatives to support Black-owned businesses include the “100-for-100” program for Black women entrepreneurs, the Coalition to Support Black Business grant program, the $1+ million grant program to “Support Historically Small Restaurants”, and the underrepresented a $40 million investment in the lender’s nonprofit Acion Opportunity Fund to provide loans and resources to small business owners on those owned by groups, and an expanded national ByBlack certification platform created by the US. Black Rooms, Inc. only. for black-owned businesses.

American Express is a globally integrated payments company that provides access to products, information and experiences that improve customers’ lives and increase business success. Learn more at americanexpress.com and connect with us at facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

Key links to products, services, and corporate responsibility information: payment and credit cards, business credit cards, travel services, gift cards, prepaid cards, business services, Verify, InAuth, corporate card, business travel, and corporate responsibility.

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American Express launched the Black Business Rebuild Coalition in September 2020 with a $10 million commitment to fund a four-year grant program to help Black-owned small businesses recover from the disproportionate impact of COVID-19. The grant program is administered by the USA. Black Chambers, Inc. in partnership with the Chamber of Commerce Foundation, National Black Traders Association, National Business Association, USA. and Walker’s Legacy. United States. The Chamber of Commerce Foundation is a 501(c)(3) private sector charity affiliated with the American Chamber of Commerce, not a government agency. Small Home Business News and Trends Eligible black businesses can receive grants of up to $2,500 from Kinetic Business

Windstream’s Kinetic Business has announced that it will provide another round of funding and support to Black-owned businesses, this time targeting businesses anywhere where Kinetic has a footprint. Eligible businesses can receive a grant of up to $2,500 as well as a year of free online services and a free business consultation to explore products and services that can lead to higher productivity. Grants will be awarded on a first come, first served basis and will continue until funds are depleted.

New or established businesses must be in the Kinetic Business service area. They must also be a Kinetic broadband customer. Other requirements include:

Offering advanced globalization and managed solutions in 18 states, Kinetic Business launched the Black Business Support Fund in 2020, giving a total of $300,000 in cash grants through the program.

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“When we launched the fund, the pandemic had a devastating effect on Black-owned businesses across the country, so the grants were opening doors for our neighbors’ businesses,” said Lorenzo Clark, Kinetic’s vice president of digital sales. and chairman of the Windstream Black Professionals Network Committee. “Now that things have calmed down a bit, these grants often help grow businesses that are not well-capitalised.”

“It’s really exciting to be the kind of partner that not only helps other businesses in our service area, but also lifts the whole community so that everyone can thrive and pursue their dreams,” Clark said.

Kinetic Business’s website states that in a typical year, Black business owners are two and a half times more frequently rejected for loans from traditional sources than Caucasian business owners.

“Without support and access to capital, these businesses are at great risk,” the site reads. Below is a quote from Clark: “We want to do our part to stabilize this important economic sector in the communities we serve.”

Resources For Black Owned Businesses

Full Eligibility Criteria for the grant are available here. Interested applicants can apply by contacting Kinetic Business at (866) 445-5930.

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Eligible Black Owned Businesses Can Receive Grants Of Up To $2,500 From Kinetic Business

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If you disable this cookie, we will not be able to save your preferences. This means you will need to re-enable or disable cookies each time you visit this website. The motivation for our grants was to see and hear about the significant impact of COVID-19 on Black, Indigenous or Colored People. We would like to offer some of our knowledge and time to help. Although this is a business site, we try to help other business owners with our grant program. To support this goal, we turned off our standard calls to action/contact messages on grant pages and changed our standard header images. We don’t want your money. We want to help you make more money.

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