Black business owners can get grants up to $25,000 to help them grow

Black entrepreneurs may be eligible for grants to grow their businesses up to $25,000

Through a partnership between Hello Alice (GEN) and Global Entrepreneurship Network, grants will be made available to women entrepreneurs and entrepreneurs of color. Funding is provided by the Etsy Uplift Fund as well as Progressive Insurance.

The grants will be awarded to recipients in the amount of $5,000 to $25,000, to help them grow and reach their goals. Etsy’s global marketplace Etsy has launched an initiative called the Etsy Uplift Fund. This fund supports non-profits that work to remove barriers to entrepreneurship. This fund, too, is intended to help entrepreneurs in their quest to economic independence.

Now, the initial round of application is open. It runs until April 21. Hello Alice explains that grants applicants must fulfill several criteria in order to qualify. Grantees should be non-profit organizations in the United States, Puerto Rico or District of Columbia that have less than 1 million dollars in revenue in 2022. They must have a commitment to  their customers, community, and show how the funding will help them grow this year.

2021 saw the launch of Etsy Uplift Fund. According to its website, some barriers that entrepreneurs face include “lack of digital education and training, access to capital, and insufficient access to benefits like health insurance and paid leave.” Further,  the fund fosters equal opportunities for creative entrepreneurship.

In a separate fund, called the Impact Investment Fund, Etsy has invested $30 million and plans to use capital to help foster economic empowerment and promote sustainability, The investments will help accelerate the development of the creative economy, support financially  underserved communities, and promote environmental sustainability. Etsy reported the fund has been set up at City First Bank, one of the nation’s largest Black-led banks.

Chelsea Mozen, senior director of impact and sustainability at Etsy, said, “We look forward to seeing the Uplift Fund and Etsy’s Impact Investment Fund make a lasting, measurable impact on the lives of creative entrepreneurs, their communities, and beyond.”