The U.S. Black Chambers (USBC) launched a micro grant and loan program in partnership with BP oil and gas company to fund Black-owned businesses in the Gulf region. The purpose of the program was to provide capital to firms impacted by previous hurricane and storm disasters.
USBC's partnership with BP, the Louisiana Chamber of Commerce Foundation and the Beaufort Black Chamber of Commerce provided funding to over 20 Black-owned businesses. USBC president Ron Busby says "partnerships with corporations like BP enable us to continue to demonstrate the power of corporate relationships that align with the critical needs of providing capital to Black-owned businesses."
Businesses located in AL, LA and MS were eligible to participate in the program. Grant amounts up to $2,000 and loans up to $10,000 were provided.
Currently, there are loan funds still available until July 31, 2020 to help firms impacted by COVID-19.
Information about the program is available by contacting the Louisiana Chamber of Commerce Foundation at 504-655-7572.
Each week USBC will profile an award recipient to highlight the impact of the funding and showcase the importance of ongoing capital to help Black-owned businesses achieve their revenue goals.
