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Grants to USA Black-Owned Businesses and Black Entrepreneurs to Facilitate Business Growth and Development

ELIGIBILITY:

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Fifteen Percent Pledge Achievement Award

Fifteen Percent Pledge


Agency: Foundation

GrantWatch ID #206822

Grant Description

Grants to USA Black-owned businesses and Black entrepreneurs to facilitate business growth and development. Funding is intended for businesses that sell products designed for use and enjoyment. The goal of the program is to advance economic justice and racial equity and to create supportive ecosystems for Black entrepreneurs.

The Fifteen Percent Pledge is a racial equity and economic justice non-profit organization addressing the inequities that exist throughout the American consumer economy and working towards closing the racial wealth gap. In recognition that Black people in the U.S. compromise nearly 15% of the population, the Fifteen Percent Pledge calls on major retailers and corporations to commit a minimum of 15% of their shelf space, sales revenue, and annual spend to support Black-owned businesses.

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Eligibility:

  • Others (see text field entitled "Additional Eligibility Criteria" for clarification)

Additional Eligibility Criteria:

Who Can Apply: Black-owned businesses that sell products to consumers for their own use or enjoyment. This includes food, beverages, cosmetics, cleaning products, clothing, shoes, accessories, and home decor.

Eligibility Criteria:
- Member of the Fifteen Percent Pledge's Business Equity Community
- Business sells a product and has annual revenue of $250K or more
- Black-owned: At least one self-identifying Black person with 50% or more equity in the company
- Has between 3-15 employees, including the founder
- Fosters inclusivity and showcases community impact by pushing against systemic infrastructures that have not prioritized unique consumer needs

Businesses must be based in the United States or have a legal presence here.

Pre-Application Information:

Timeline:
- November 14: Applications open
- December 9: Application closes at 11:59 PM ET
- January 2-13: Ten semi-finalists announced. First round of public voting begins.
- January 16: Three finalists announced. Second round of public voting begins.
- February 4: Winner will be announced at the Fifteen Percent Pledge's 2023 Gala.

Applicants must first create, update, or complete their business profile in our Business Equity Community in order to access award application questions. To join the Business Equity Community, see the Apply button on the URL for Full Text.

Additional Funding Information:

Number of Grants:

Three finalists will receive cash awards.

Estimated Size of Grant:

A $200,000 grant. Two additional finalists will also receive $35,000 and $15,000.

Contact Information:

Apply Online: https://15percentpledge.org/account

For technical problems with the application process, email brands@15pp.org.

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