This past year many Black businesses suffered tremendous losses – some are struggling to recover, some have managed to pivot and move forward, while some will never recover. This is a fact!
The Black Business Alliance has been working quietly for the past five years to support small business growth, advocating for change, and building a healthy black business community based on trust.
We have expanded our services and staffing to attempt to meet the needs of the small business owners that we serve. The needs are great…and more is required.
This is the opportunity to continue to do our work like never before.
Here is a specific example of the need. Paul (name has been changed to protect his privacy) had to close his barbershop due to the pandemic….a business that he loves and uses to serve the community. When he was able to re-open, due to COVID restrictions, his space only allowed him to have one chair, cutting any opportunities by 50%. Paul supports his family with his business income in the northeast corner of the state. His client’s fears prevented some from coming back, while business slowed to almost a complete halt. But Paul took the time to develop a new business with greater, and more secure, income potential.
BBA has worked with Paul to complete his business plan and pro forma financials. He has a contract to provide services but needs transportation and more than $100,000 in funding to move his new business forward. BBA has assisted with creating a bank-ready loan package that will be submitted to a funding partner shortly. This process has taken approximately four months.
There have been countless stories of businesses getting access to PPP funding, pivoting, or launching new businesses with assistance from BBA.
BBA has studied and continues to study the needs of black businesses around CT. As a statewide organization, we have planned, prepared, and are positioned to continue the expansion of our services, while also building capacity within the organization. We have the team in place to make an impact.
So, what’s in it for you? You can do something meaningful…something heroic. Your support delivers on your commitment to equity and inclusion. You can make a significant difference for Black-owned businesses around the state.
You can double your impact! Thanks to a challenge grant opportunity with the Department of Economic and Community Development (DECD), you have the opportunity to double your donation with each dollar being matched with one dollar. DECD will match our fundraising up to $500,000.
When we meet that goal – that means $1,000,000 to support Black-owned businesses. Check out our plans.
Do it now, please! We respectfully as that you consider a donation, sponsorship, or partnership opportunity with BBA.
We are sincerely grateful for your generous and enlightened support.
Kind regards,
Anne-Marie Knight
Executive Director