A grant program announced late last week is aimed at helping Black women business owners, but they must apply by Wednesday of this week.
Backing Black Business will award female Black business owners cash grants and help them with other resources, according to a news release from grant project officials, sent through the Small Business Centers at Brunswick Community College and Cape Fear Community College.
“The COVID-19 pandemic hit Black women business owners across the country hard. Now as signs of recovery emerge, Black women are starting new businesses at record rates even as established business owners expect a long road to recovery,” the release stated. “We recognize the power of Black women entrepreneurs and have partnered with Meta [formerly Facebook] and other community small business organizations to provide cash grants.”
The grant amounts and their targets are:
- $5,000 cash awards to provide a momentum boost to 50 Black women who launched their businesses during the pandemic;
- $10,000 cash awards to 150 Black women who owned existing businesses prior to the start of the pandemic;
- $25,000-$50,000 cash awards to 7 women whose businesses demonstrate momentum and strong potential and who could use the grant funds to take their business vision to the next level.
In addition, applicants can be introduced to coaches, networks, potential partners and peers.
The application is short and easy to complete, so meeting Wednesday’s deadline should not be a problem, said April Scott, director of the BCC Small Business Center.
Backing Black Business is a project of Reimagine Main Street and its network of partners with support from Meta.
“We recognize the power of Black women entrepreneurs, but know all too well that gender and racial bias persists,” Reimagine Main Street states on the grant website. “Before the pandemic, Black women entrepreneurs were not well served by business as usual. By providing cash grants, advertising support and other valuable resources to women who launched their businesses during the pandemic or made it through, we can fuel the aspirations and boost the trajectory of more than 200 Black women entrepreneurs across the United States.”
Scott said she encourages Black women business owners who meet one of the above criteria to apply for a grant, even though there aren’t that many grants available.
“Once you apply for something like this, you are in the organization’s database and you’ll receive direct communications from them when other opportunities become available,” she said Monday.
To learn more about the grant program or to apply by the Wednesday deadline, click here