The Coalition to Back Black Businesses is a partnership of several brands that have come together with the goal of empowering Black-owned businesses.
The Coalition is supplying $14 million in minority grants, resources and training over a span of four years through 2023 that is meant to help small businesses recover from pandemic-related setbacks. The Coalition includes American Express, ADP, AIG Foundation, Altice USA, Dow and the S&P Global Foundation.
Select businesses will qualify for grants in the amount of $5,000 each fall, in combination with training and mentorship benefits. When the summer arrives, a few initial grant recipients will receive additional $25,000 enhancement grants as a means of additional funding and support.
Eligible businesses must be Black-owned enterprises located in economically distressed communities. You can apply on the Coalition’s website in the fall when the application process opens. The grant committee will select 400 or more eligible applicants at random to receive cash awards and other benefits.