In a time of financial strain, titans of businesses like Chichi Eburu and Juvias Place are giving grants to Black Owned Businesses. These grants make starting up a business easier and provide opportunities for Black-owned businesses and those in the community who share the same values. They are initiatives focused on improving communities within the D.C. area and beyond, providing resources for all to prosper with more access to quality jobs, education for their children, affordable housing, healthcare benefits, and other amenities.
Chichi Eburu and Juvias Place Give Grants to Black-Owned Businesses
We all know that the D.C. area is one of the poorest in the country, yet most of these businesses are owned by Black people. It is an opportunity for us to make a difference in our communities, which is drastically lacking in these neighborhoods. According to Forbes, “Black Owned Businesses have a 1% market share nationally, but they control almost 10% of retail sales.” The demand for Black businesses is high, and yet there are very few of them.
Chichi Eburu and Juvias Place have previously provided grants to Black-owned businesses, so this new initiative has been nothing short of what we expect from both companies. The gifts are in the form of a loan that is paid back over a year. It will allow companies to stay independent or become part of what is already established and stable in their communities.
Chichi Eburu and Juvias Place are supporting Black-owned businesses by giving them access to capital that would otherwise be unattainable. We have such high expectations for this new initiative since it could change everything for our communities.
It is just one step toward making those things happen, but it’s a massive step in the right direction. This initiative proves that both companies understand our circumstances and what we need to succeed within our neighborhoods and beyond.