May 3—A accelerator program launched by Manchester NAACP and New Hampshire Community Loan Fund will provide up to $5,000 in one-time funding to help businesses of color become more self-sufficient.

Organizers are now accepting applications for the Community-Driven Economic Empowerment (C-DEE) program, which serves entrepreneurs of color in the Greater Manchester area.

The funds through the pilot program can be used for computer hardware and software, and for professional services that include legal consultation, bookkeeping, marketing including website design, and business coaching or consulting.

The Center for Women & Enterprise and the New Hampshire Small Business Development Center provided coaching and consulting support for the C-DEE Accelerator.

"A Pew Research study reports that White Americans accounted for a large majority (86%) of firms whose ownership was classifiable by race and ethnicity in 2020. These firms brought in 93% of all revenue from classifiable companies that year," said James McKim, President of the Manchester NAACP, in a news release.

"We partnered with the New Hampshire Community Loan Fund to create the C-DEE program to address this disparity," McKim said. "This is just one of our many efforts to bring economic justice to the Greater Manchester area."

"Many entrepreneurs of color have told us they could grow their businesses with a boost from computer technology and professional services, like bookkeeping," said Carlos Rincon, a Community Loan Fund Business Lender and the C-DEE program manager, in a statement.

C-DEE's Community Business Advisory Council, comprising Manchester business owners and community leaders, will determine the recipients of the funding. Rincon said every applicant, regardless of whether they receive funding, will be eligible to work with a coach or consultant at no charge.

Entrepreneurs of color in Manchester and surrounding towns are eligible to apply. Business owners can apply online. Also, entrepreneurs of color can attend a workshop and get help with their applications Saturday, May 6, from 9 to 11 a.m., in the Community Loan Fund's Manchester office at 30 Amherst St. Awardees will be notified the week of May 22; an awards celebration will be held May 31.

Entrepreneurs of color who would like to learn more about the program or apply should email CDEE@communityloanfund.org.