Michael Jordan Selects ‘The Oakland Black Business Fund’ Which Helps Black Start-Up Founders As A Community Grant Recipient
The Oakland Black Business Fund has been selected as the inaugural recipient of Michael Jordan and the Jordan Brand’s Community Grant.
The initiative is part of the Jordan Brand’s ‘Black Community Commitment Grant Program.’ It will fund the Oakland Black Business Fund’s [OBBF’s] mission to build peer-to-peer relationships within Black business owners, technical assistance providers, and tech companies.
According to PR News Wire, OBBF aims to offer a sustainable growth model for underserved and under-funded businesses coming out of the Bay Area.
In a statement, OBBF Co-Founder Trevor Parham said: “OBBF has had the opportunity to partner with some of the country’s leading companies and financial institutions to support Black entrepreneurs in the Bay Area while addressing systemic biases that perpetuate the funding gap for Black businesses.
“We are grateful to the Jordan Brand for their support as we continue to cultivate a resilient and sustainable ecosystem of local Black businesses based on a proven model that improves neighborhoods, creates jobs, builds wealth, and provides strong and meaningful financial returns to our communities.”
OBBF is the only Black-led fund that generates business grants and significant investments, which address the lack of capital for Black-owned businesses, reported Tech Crunch.
Craig Williams, President, Jordan Brand, added: “We received hundreds of applications for Community Grants, and every single one of them was a reminder of the unique impact and powerful personal connections local community efforts can make happen. Making a decision on the first cycle of 18 organizations selected was certainly not easy.”
For more on how to apply for capital and technical support through OBBF, click here.