The CBE will eliminate opportunity gaps between Black entrepreneurs, professional investors, and business builders by leveraging education, mentorship, access to capital, and opportunity.
Also, Georgia Power has pledged $75 million for racial-equity programs in the state, and the McKnight Foundation will award $1 million in unsolicited grants to social-justice groups in Minnesota in memory of George Floyd.
(Image: iStock/monkeybusinessimages)
The Black Economic Alliance and Wells Fargo have launched the Black Economic Alliance Entrepreneurs Fund (BEA Fund), to accelerate the growth of Black entrepreneurs and business owners.
The $50 million BEA Fund will provide seed, startup, and early-stage capital funding to businesses founded or led by Black entrepreneurs. Wells Fargo will help support the effort with a $20 million commitment over five years to help boost the program’s operations and investments.
“Business ownership has been one of the best paths to multi-generational wealth creation for some Americans, but too few Black entrepreneurs have secured the financial resources necessary to launch and grow successful businesses. The Black Economic Alliance is proud to marshal resources to support more Black-owned businesses and founders, which will leverage hiring more Black workers and additional investment in Black businesses and communities,” David Clunie, executive director o