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Black-owned small businesses could gain $5,000 grants to help them grow and conquer obstacles like lack of capital and inflation. Marking its third year, the Coalition to Back Black Businesses (CBBB) offers just over $1.3 million in grants to 272 Black businesses to help with long-term growth.
According to a news release, the CBBB is a multi-year effort created to support the resilience of Black-owned small businesses. The program is supposedly the first-ever collaboration with four top Black business organizations, including the National Black Chamber of Commerce, the National Business League, the U.S. Black Chambers Inc., and Walker’s Legacy.
It is reported the CBBB has awarded over $6.4 million in grants to 1,091 small Black-owned businesses in 40 states to help pay costs like payroll, utilities, and expanding or replacing inventory. Read more.
