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Coalition to Back Black Businesses
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Last year, AfroTech reported on the launch of American Express’ Coalition to Back Black Businesses committing $10 million to support Black entrepreneurship. Today, the group has announced that it’s continuing that mission by awarding 25 small Black-owned businesses $25,000 in grants to support their long-term success and resilience just ahead of Black Business Month. According to the grantees, this funding goes a long way in helping these businesses survive and thrive in the wake of the pandemic. “My business and life have done a full 180 since receiving support from the Coalition to Back Black Businesses program,” grant recipient Deandre Wade — owner of sports uniform company Fresh Sportswear — shared in a statement. “With the enhancement grant, I will be moving my business out of my living room and purchasing the tools and equipment needed to begin mass-producing our products.” The Coalition to Back Black Businesses launched last September after a tumultuous year of small...
As many Black business owners continue to face financial hurdles amid the pandemic, more major companies are pledging their support through funding programs and ongoing initiatives. This week, American Express announced the launch of a newly formed group called the Coalition to Back Black Businesses . With the announcement came a $10 million commitment to fund a grant program in support of small Black business recovery in America over the next four years, a press release reports . View this post on Instagram A post shared by American Express (@americanexpress) In a one-of-a-kind collaboration with four major Black chambers — U.S. Black Chambers, Inc., National Business League, National Black Chamber of Commerce and Walker’s Legacy — American Express plans to support efforts to help get Black businesses back in good financial standing to keep them afloat. Black communities across the U.S. have been disproportionately impacted by the effects of the pandemic, with Black businesses...