The San Diego Foundation announced Wednesday that it has awarded a grant of $ 500,000 to the Central San Diego Black Chamber of Commerce to expand economic opportunities for black entrepreneurs.
The San Diego Foundation will award a grant of $ 300,000 from its Black Community Investment Fund and a grant of $ 200,000 from the Board of Governors.
“Even before the pandemic, black-owned businesses suffered disproportionate denials from financial institutions and access to resources and tools to build sustainable businesses,” said Donna DeBerry, President and CEO of the Central San Diego Black Chamber of Commerce. “We collected data and information from local black entrepreneurs regarding their needs to start, reopen, rebuild and thrive. The results of this data have enabled the Chamber to create an innovative model program called the Urban Business Resource Center, dedicated to the development, support, sustainability and scale of businesses at all levels.
The Urban Business Resource Center will provide a collaboration hub for black-owned businesses and black entrepreneurs through a support network, educational workshops and other resources.
The San Diego Foundation said the center will also host regular office hours and other activities that will increase black entrepreneurs’ access to tools to grow their businesses, from mentorship to access to capital.
The fund will invest in innovative community-led efforts that increase racial equity and generational wealth for Black San Diegans, reports Nicole Gomez of NBC 7.
“The pandemic has had unfair results for many, including the black community of San Diego,” said Pamela Gray Payton, impact and partnerships manager for the San Diego Foundation. “By supporting the Center, we will promote equity of opportunity by increasing access to resources, for black San Diego business owners and black families to create generational wealth and transform their futures.” “
For more information on the San Diego Foundation, click here. For more information on the Central San Diego Black Chamber of Commerce, click here.