Beyoncé donates additional $1 million to help Black-owned businesses
The Black-Owned Small Business Impact Fund will begin accepting applications for round two later this month.
Beyoncé is continuing to give to Black-owned businesses. The “Love On Top” singer’s BeyGOOD foundation announced on Wednesday (Sep. 2) that she is donating an additional $1 million to assist Black-owned small businesses across the country.
“Proud to announce $1M in additional funds from Beyoncé to help Black-owned small businesses. Round two of funding opens this month with our partner, NAACP,” reads a statement posted on the foundation’s official Instagram account.
Back in July, BeyGOOD and NAACP partnered to launch the Black-Owned Small Business Impact Fund. The goal was “to help strengthen small businesses and ensure economic empowerment for Black businesses.”
The initiative awarded $10,000 grants to several Black-owned small businesses that were severely impacted by the pandemic. The business owners had to provide proof of property damage or a replacement estimate, according to the guidelines. The first round of applications closed in July and the 20 recipients were announced on Beyonce.com on Aug. 18.
“Over the last couple of months, the pandemic and outpours for justice throughout the Black community and across the country has been felt in every imaginable area of our lives, including in how our local businesses continue to operate,” the NAACP website previously read. “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.”
The Lemonade singer also looked out for frontline workers during COVID-19. She previously teamed up with Twitter founder Jack Dorsey’s Start Small Fund to donate $6 million in COVID-19 relief for essential workers. Back in June, she also launched the “Black Parade Route” — named after her Juneteenth single — which promoted Black-owned brands.
The Black-Owned Small Business Impact Fund will begin accepting applications for round two later this month. Check out BeyGOOD’s Instagram post below.
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