Pop icon Beyoncé has partner with the NAACP to help provide funding for Black-owned businesses.
The partnership will provide $10,000 grants to Black-owned small businesses in select cities. Beyoncé and her BeyGOOD foundation announced ‘The Black-Owned Small Business Impact Fund’ via Instagram Thursday of last week.
“BeyGOOD announces The Black-Owned Small Business Impact Fund, assisting small businesses negatively impacted by recent events. The NAACP is proud to partner with BeyGOOD to help strengthen small businesses and to ensure economic empowerment for Black businesses. Click the link in our bio to learn more,” said the caption on the foundation’s official IG account.
To be eligible for the grant your business must reside in the select cities. Atlanta, Houston, New York, Los Angeles and Minneapolis are all on the list. Applications are due bu July 18th of 2020, and must include an estimated expenses incurred as a result of property losses or inventory replacement.
“The challenges of Black business owners navigating in the climate cannot be understated, as the effects of uprisings across the nation have led to many businesses being placed in dire straits due to damages and other small business needs,” NAACP said in a statement released on their web site.
Back in April Beyoncé and BeyGOOD charity partnered with Twitter CEO Jack Dorsey’s Start Small campaign to provide $6 million in relief funds to a variety of groups working to provide basic necessities in cities like Detroit, Houston, New York and New Orleans.