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MBN USA

July 20, 2022

CBBB awards $14 million in grants to 20 small businesses

CONGRATULATIONS TO OUR 2022 ENHANCEMENT GRANT WINNERS

This summer, we’re granting 20 of the most promising and innovative Black-owned small businesses from the program’s 2021 cohort an additional $25,000 enhancement grant to further solidify their resilience and long-term success. This grant will help these businesses develop a stronger online presence, relocate to a larger physical space, hire additional staff, and more. Meet our 2022 winners.

Watch the video above to hear from one of last year’s enhancement grant recipients to learn how the program has impacted his business.

The coronavirus pandemic has brought unprecedented challenges for small businesses, and the Black community has been hit especially hard.

The Coalition to Back Black Businesses is a multi-year initiative to support Black small business owners and the communities they serve as they recover from the COVID-19 pandemic and chart a path forward. Small businesses are critical parts of communities – the strength of these businesses is essential to the recovery of their communities.

Through the Coalition, American Express, ADP, AIG, Altice USA, Dow, S&P Global Foundation, Shopify, Stanley Black and Decker, the National Black Chamber of Commerce, National Business League, U.S. Black Chambers, Inc., Walker’s Legacy, and the U.S. Chamber of Commerce Foundation, will work together over the next four years to provide over $14 million in grants, training, and resources to empower Black-owned small businesses in distressed communities that have long been struggling with economic growth.

From 2020 through 2023, we will distribute $5,000 grants to applicants each fall, followed by mentorship and training, and select few will receive $25,000 enhancement grants the following summer. We hope these grants can provide some assistance to the Black business community to emerge from this crisis stronger than ever. We know the need for assistance is great, and we wish we could help everyone who needs it.

WE SEE YOU. WE HEAR YOU. WE ARE WITH YOU.

Small businesses across America are struggling to keep their dreams alive, and Black-owned small businesses have been hit especially hard. Black business owners are more likely to report difficulty obtaining loans, express fears about permanently closing, and predict declining revenues in the coming year as a result of the COVID-19 pandemic.

The Coalition to Back Black Businesses is a collective effort to drive meaningful change within the Black business community by delivering much-needed short-term relief and supporting the long-term success of Black-owned small businesses and the communities they serve.