Black business owners are being given another opportunity to apply for financial assistance from a national partnership. The Coalition to Back Black Businesses is awarding nearly three million dollars to hundreds of small business owners who qualify.
“Any Black owned business, anywhere is the U.S., [with] between three and 20 employees, however, they can be full-time, part-time or under a 1099 or some other type of consulting contract. We do focus our grants on areas that are not as prosperous.”
That’s according to Lawrence Bowdish who is an Executive Director at the U.S. Chamber of Commerce Foundation, which in partnership with American Express, makes up the coalition.
“There have been some long-term challenges in the Black-owned business ecosystem, you know access to capital, mainly among them.”
Those who qualify for the $5,000 can also apply for a limited number of $25,000 grants.
While the midnight Wednesday deadline to apply is fast-approaching, the application progress is simple.
“It’s very short, we have an embedded application at webackblackbusinesses.com, it’s about 12 questions, primarily contact information so we can reach out to you. At the end of the week, we will start reaching out to folks to fill out a slightly more in-depth application.”
The program provided grants to 600 black small business owners last year. The program also provides mentorship and coaching for business owners.