HomeAmericaNew program puts $600K toward black businesses, entrepreneurs in Milwaukee

New program puts $600K toward black businesses, entrepreneurs in Milwaukee

Milwaukee (CBS 58) – A new pilot program aims to promote opportunities for black entrepreneurs and business owners in Milwaukee.

producer of Black Business Boost Fund Say it will increase similar expansion in underserved communities.

The PNC Foundation is offering a $600,000 grant to launch the fund and is expected to support at least 100 local black businesses and entrepreneurs.

“Today we must be bold about the initiatives that can best position Black-owned businesses to start, grow and thrive,” said Chris Herman, Wisconsin’s PNC regional president.

Colleagues say the program is to “put dreams into action.”

In addition to financial investments, Black Business Boost Fund will offer tailored resources such as incubation, credit recovery and one-on-one mentoring.

The Wisconsin Women’s Business Initiative Corporation (WWBIC) will manage the funding.

They will partner with the Housing Authority of the City of Milwaukee (HACM) to provide technical assistance, and educational and mentoring opportunities.

Allies say economic opportunity is a “critical component” of equine success.

Angela Smith, owner, said, “At Daddy’s, we have a staff of over 23 people. At Dulaney (real estate) we have three employees. And I’m grateful for that. We’re small, but we’re helping our local economy.” Huh.” Daddy’s Soul Food & Grill.

“I’ve said, especially recently, that Milwaukee’s new economy can’t just be a ‘silver bullet approach.’ We tried that. We’ve been trying for the past 40 years and it just hasn’t worked. “We need a new way forward,” said Milwaukee Common Council President Cavalier Johnson.

The PNC grant will be distributed to the fund over a period of three years.

According to a PNC press release, “The initiative is in line with PNC’s broad commitment announced in June 2020 to end systemic racism and support the economic empowerment of black Americans and low- and middle-income communities with $ 1 billion to dedicate.”

For more information about the Black Business Boost Fund, Click here.

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