The Black Business Alliance has received a $100,000 federal grant to expand financial literacy training and loan application support for black-owned companies across Connecticut.
Anne-Marie Knight, the executive director of the Black Business Alliance, said the funding is a good start to support their needs.
“It gives us the opportunity to expand our financial education program, our technical assistance and our funding partners to get access to capital,” said Knight. “That’s the biggest piece that black-owned businesses need.”
Black-owned businesses have historically the worst access to financial resources than any other racial group — even before the pandemic.
“If something is not working very well with a particular organization, maybe the business loan was rejected, now we’re able to go back for a second bite at the apple and really be able to advocate on behalf of our businesses,” Knight added.
The Black Business Alliance holds workshops and other support at locations in New Haven, Hartford and Fairfield.