America’s oldest and largest civil rights organization and one of the world’s biggest music superstars have formed an alliance, which will promote economic growth for small, U.S.-based black businesses.
According to BET, the NAACP and singer/performer Beyoncé (pictured left) have solidified a partnership that is designed to provide funding for black-owned firms with a desire to rebuild. Beyoncé’s BeyGood Black-Owned Business Fund will be working in tandem with the NAACP’s financial justice division in order to provide grants to small black businesses in strategically-targeted U.S. cities.
The BeyGood Black-Owned Business Fund and the NAACP’s financial justice division will provide grants of up to $10,000 for qualified firms led by business teams and individuals. More importantly, the NAACP’s alliance with Beyoncé’s impact funding operation seeks to provide relief for business owners who recently experienced damages brought on by riots and looting.
In the wake of the brutal, video-recorded murder of George Floyd at the hands of anti-black police officers in Minnesota, violence erupted in a number of U.S. cities where demonstrations against police brutality were held. Unfortunately, many of these protests spiraled out of control. Riots, vandalism, arson, and looting ensued and small black businesses were caught in the crossfire.
In an official statement, an NAACP spokesperson outlined the collective mission of the organization’s new partnership with one of the most influential black businesswomen in American history.
“Over the last couple of months, the pandemic and outpours for justice throughout the Black community and across the country have been felt in every imaginable area of our lives, including in how our local businesses continue to operate,” the statement reads.
“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 statement goes on to read.
To qualify, businesses must be located in the U.S. cities of Houston, Atlanta, New York, Los Angeles, and Minneapolis. Firms have until July 18 to apply. If they are approved, the businesses will receive a special notification from Beyoncé ‘s official website for fans on July 31.
Applications can be submitted online here.