Business
Detroit Black Business Non-Profit Taking Applications from Businesses Needing Access to Millions in Grants and Loans
June 7, 2022 · Updated June 17, 2022·By BLAC Staff
“Blacks in this country have been intentionally and historically disinvited from the table. In order for us to get some sort of equity, some semblance of equity, a drop of equity, we need more funding partners that are w
June 7, 2022 · Updated June 17, 2022
“Blacks in this country have been intentionally and historically disinvited from the table. In order for us to get some sort of equity, some semblance of equity, a drop of equity, we need more funding partners that are willing.”
This statement to the Detroit Free Press by Capital Connect CEO Charity Dean puts the business issue in Detroit in succinct terms. It could serve as the mission for her Metro Detroit Black Business Alliance Program.
Capital Connect wants to help create and sustain successful Black businesses and is receiving applications to help give access to funding resources. The deadline is September 3. The organization intends to provide local black business owners access to millions of dollars in grants and loans from its capital partners.
You don’t have to look far to find a multitude of statistics highlighting financial inequities between white and Black business owners. It’s why Capital Connect and its programs are essential to the city of Detroit. Capital Connect started last year and now runs a three-month program in downtown Detroit helping Black business owners and entrepreneurs learn how to succeed in creating a business and financial plan, pitching their business and more. However, there are currently fewer than 20 people enrolled.
Capital Connect program manager, Autumn Kyles emphasized to the Free Press that learning how to pitch your business represents a daunting task for some. “I think a big piece of convincing someone that you deserve money is about you being able to confidently tell your story,” Kyles said. “Not a lot of people really know how to craft a story that can sell why they can grow and why they need the money to grow.”
You can learn more about Detroit’s Capital Connect here.
Every question deserves a better answer than a search result — here's where this story leads.
Woodhouse Spa in Detroit Re-Opens after Renovations
Photos courtesy of Annistique Photography Relaxation and luxury have returned to downtown Woodward. After a long remodeling process, Detroit’s Woodhouse Spa has reopened with a new look and new services. The new renovations come as a welcomed change for co-owner Cheryl Hudson. To her, these fresh additions are simply a new chapter in her long run […]
Detroit Has a New Evangelist and He’s Preaching Entrepreneurship and Equal Access to Business Resources
Some may look at Larry Brinker, Jr.’s vocational life and label him an entrepreneur, investor, mentor or CEO of his family-owned and operated Brinker Group construction service company with more than $4 billion in construction projects. All of those titles would not do justice to explain or describe Larry Brinker, Jr. in 2023. Today he’s […]
A Father’s Tax Dilemma Inspires A Louisiana Daughter to Lead An Organization Helping Thousands in Detroit
In its 50-year history, the Detroit Accounting Aid Society has helped Southeast Michigan residents receive $455 million in refunds and credits. This year they expect to help clients with 16,000 tax returns.
Help Us Get It Right
This coverage is a community project.
Spot something outdated? Know a person, business, or organization this story should connect to? A story we should tell next? It goes straight to our editors — privately.