By Megan Sayles, AFRO Business Writer,
Report for America Corps Member,
msayles@afro.com
Reimagine Main Street recently awarded cash grants ranging from $5,000 to $50,000 to over 200 Black women-owned small businesses and entrepreneurs through its Backing Black Business: Small Business Grant Program.
Meta provided the $2 million funding for the cash grants as a part of its Black-Owned Small Business Grants program. All of the winners either launched their businesses during the COVID-19 pandemic or successfully navigated their businesses through the pandemic.
The women entrepreneurs span industries, including retail, beauty, health and caregiving, maintenance and repair, transport and logistics, professional services, food and leisure, technology and education.
“Covid-19 hit Black women business owners across the country hard. Now, as signs of recovery emerge, Black women are starting new businesses at record rates, and we recognize the power of Black women-owned small businesses,” said Renee Johnson, co-lead of Reimagine Main Street. “By providing cash grants, advertising support and other valuable resources to women who launched their businesses during the pandemic or made it through, we can collectively fuel the aspirations and boost the trajectory of more than 200 Black women entrepreneurs across the U.S.”
One grant winner was April Richardson, a Baltimore native and co-owner of DC Sweet Potato Cake. Several customers called and emailed the bakery to urge Richardson to apply for the grant program.
Just a few months before, the commercial bakery was burglarized, and the customers thought a cash grant could help offset its financial losses.
“It is no secret that Black women are disinvested by traditional financiers, thus programs such as Backing Black Business: Small Business Grants are necessary to bridge the financial needs of our companies,” said Richardson.
After her application was evaluated, Richardson was chosen as one of the top seven finalists in the Backing Black Business: Small Business Grant Program. She received coaching and participated in the program’s pitch competition in February.
Being recognized as a finalist afforded Richardson the opportunity to demonstrate that her company can be a major player in the baked goods manufacturing industry. At the competition’s culmination, Richardson was awarded $25,000.
She intends to use the money for operational costs and to purchase new manufacturing equipment and packaging for the baked goods.
“Many entrepreneurs cited in their applications that hiring more staff, buying new equipment and enhancing their social media and marketing efforts online would make a real impact on their business and ultimately, their community,” said Johnson. “Our mission here is to help entrepreneurs and businesses in communities across the U.S. thrive and grow as we emerge from the economic effects of the pandemic.”
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