Beyoncé and her charitable foundation BeyGOOD have been doing their part to assist the black community during the coronavirus pandemic. Now, the organization is partnering up with the NAACP to launch the Black-Owned Small Business Impact Fund.
The fund was announced on Thursday via the official BeyGOOD Instagram account. The program will provide grants in the amount of $10,000 and “will be offered to Black-owned small businesses in select cities to help sustain businesses during this time,” according to the NAACP website. The BeyGood application opened on July 9th and will remain open until July 18th. Once the deadline is reached, applications will then enter into a review process, which will take place from July 20th to July 29th, and then “selected applicants will be notified on Beyonce.com” on July 30th.
“The NAACP is proud to partner with BeyGOOD to help strengthen small businesses and to ensure economic empowerment for Black businesses,” reads the website’s Impact Fund description.
The NAACP explained, “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.”
Applicants must either be a “Black-owned small business owner” or be able to “provide property damage or replacement estimates” in order to be eligible. Only businesses located in Houston, Atlanta, New York, Los Angeles, and/or Minneapolis qualify for the grant at this time.
Back in May, BeyGOOD launched mobile COVID-19 testing in Beyoncé hometown of Houston.
“The campaign has been created to start a movement to encourage black communities to prioritize health in the wake of the coronavirus pandemic,” the BeyGOOD Instagram post read.
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BeyGOOD announces The Black-Owned Small Business Impact Fund, assisting small businesses negatively impacted by recent events. The NAACP is proud to partner with BeyGOOD to help strengthen small businesses and to ensure economic empowerment for Black businesses. Click the link in our bio to learn more.