Twenty Black-owned small businesses in the New England region could pocket $25,000 grants to help them grow, invest in their business, and gain additional resources.
Launched in 2021, the Power Forward Small Business Grant program is geared toward creating a lasting impact in the economic empowerment of Black entrepreneurs.
The fourth round of funding, totaling $500,000, is being provided by the online marketing services firm VistaPrint and the Boston Celtics Shamrock Foundation, each contributing $250,000. This fund
ing means 20 eligible businesses in Massachusetts, Maine, New Hampshire, Rhode Island, Vermont, and parts of Connecticut can apply between now and June 30, 2023. Grant recipients will also receive customized design and marketing assistance from VistaPrint to help scale up their business.Applications for the grant will be run by the civil rights group NAACP in partnership with the technology platform Hello Alice. Small-business owners should be able to show the impact their firm has had on their community and explain how they plan to use the grant.
New or existing Black businesses based and operating in the six states and with up to 25 employees can apply. So far, Power Forward has given grants to 39 Black-owned small businesses totaling $1 million across many industries, including events and entertainment, food and beverage, health and wellness, and transportation.
The grant help is truly needed: In 2022, it was reported some that 41% of Black small-business owners were more likely than the average 32% of small-business owners to seek more
financing to address challenges their businesses face. Those findings arrived while minority entrepreneurs were oftentimes not applying for small-business loans due to fear of rejection or the unfortunate circumstance that they might receive lower amounts and higher interest rates if approved.Emily Whittaker, EVP, commerce and marketing at VistaPrint, stated, “Opportunity is what empowers small-business owners to have an outsized impact on their community and succeed. That’s why it’s vital that accessible resources exist to create equitable opportunities for historically underrepresented entrepreneurs, including Black small-business owners.”
Ted Dalton, chief partnership officer at the Boston Celtics, said, “Alongside our valued partners, VistaPrint and the NAACP, we are thrilled to announce a new round of funding for The Power Forward Small Business Grant. Like all of the programs under our Boston Celtics United for Social Justice initiative, we remain focused and committed to addressing the systemic origins of inequities in our community.”
The application deadline is nearing, so if your company fits the bill, apply today!