Black Business Alliance Receives $100,000 Federal Grant
The Black Business Alliance (BBA) has received a $100,000 federal grant to fund their ‘Black Business Funding Superhighway’ initiative.
The BBA is a non-profit membership organization that helps support and grow small Black and minority-owned businesses. Their work, designed to address the gap in business access to funding, helps startups by providing them with access to both funding and educational benefits.
The free twelve-week Black Business Funding Superhighway program is a mindset, educational, and mentorship program offered to select guests only.
The program, designed to help Black or Brown business owners, provides members with financial literacy training, loan application support, and networking opportunities.
In addition, each initiative aims to teach entrepreneurs how to enhance their brainstorming, creativity, and problem-solving skills to develop the right mindset to attract and maintain wealth.
According to the company, they work to provide each member with a flexible, practical, and creative learning environment to help them compete successfully in their chosen field.
“We talk about the 40% of Black-owned businesses that were closed almost immediately during Covid. We talk about the fact that out of the 12.8% population of Black people, only 2.4% are actually business owners, but this isn’t about the numbers this is about real people,” said Anne-Marie King, executive director for the BBA.
“Real lives. Real families who are impacted every day and need these services.”
Despite the number of Black businesses increasing by more than 30% during the pandemic, thousands struggled to stay afloat during the early days of the pandemic in 2020.
The BBA is committed to using the funds to enhance its services further and ensuring that once businesses get their funding, they are provided with the right tools to help them create business plans and use the money wisely. This grant will start creating meaningful change for Black-owned businesses across the country.