Six Black women have been named the first grant recipients from a multi-million dollar fund created specifically for Black-owned businesses. The $10 million fund is a partnership initiative between PepsiCo and the National Urban League to address the disproportionate impact of the COVID-19 on Black business owners.
"As the pandemic exposed existing disparities many minority business owners face, we saw a fundamental threat that could erase the decades of progress Black-owned restaurants have made. This investment will help Black restauranteurs not only recover from the pandemic but set them on a path to long-term economic resilience," C.D. Glin, Vice President, Global Head of Philanthropy at the PepsiCo Foundation, said in a news release earlier this year.
"We are inspired by the progress we are making through our collaboration with the National Urban League to address a fundamental gap and create opportunities for Black business owners to build generational wealth and continue to strengthen their communities," Glin added.
Check out the first round of grant winners below.