Helping black businesses get back into full operations with equity free investments
COVID Relief and Recovery Fund
In 2020, the world suffered one of the deadliest pandemics in recent human history. The COVID-19 pandemic shuttered the operations of millions of businesses, causing many people to lose their jobs or close their businesses for good. Lives were shattered as a result, and Black businesses disproportionately were affected by this affliction.In 2021, the world economy has begun to recover - doors begun to open, mandates and restrictions slowly loosening as COVID-19 vaccination rates increase. Unfortunately, many businesses are still entrenched in the issues created by 2020 - suffering from debt issues, dealing with the loss of staff / lost revenues from 2020, etc. As Black students and entrepreneurs ourselves, we do not want to see the businesses of our community lag behind the broader economic recovery. As of spring 2021, we launched the COVID Relief and Recovery fund to help impactful Black businesses with the costs of reopening business post-COVID.
Terms of the “CRF”
Length: March 15 - August 1, 2021
Awards: 5+ grants of $5,000/per business
Business Criteria: Same as the broader BLK Foundation criteria - 3 Pillars: Impact, Management, and Organization
Goals: Help Black businesses with the associated costs of reopening. Create positive publicity around economic recovery in the Black business ecosystem. Help BLK Foundation invest in more Black businesses over its lifespan by fundraising capital.
Review Dates: Grants will be rolled out on a monthly basis at the discretion of the Investment Committee. At least 5 grants will be awarded, but potentially more based on the availability of funds from fundraising efforts.
The goal of the reopening fund is to provide an opportunity for businesses, to grow by applying through the application linked here. Our vision is to bridge the funding gap for all black identities. This fund will be the marker that makes an inedible impact of growth for your business.
For more specific inquiries please contact: