ATLANTA, GA — The Atlanta Wealth Building Initiative (AWBI) is providing another round of grants for small Black-owned businesses. The deadline to apply is Wednesday, Nov. 4.
Grants will range from $5,000 to $15,000 through the Atlanta Wealth Building Initiative COVID-19 Small Business Relief Fund. They will be awarded to help cover employee salaries, rent, supplier expenses, and technical assistance for up to three months.
“The COVID-19 pandemic continues to have a negative impact on small businesses throughout the City of Atlanta,” the AWBI stated on its website. “Businesses are still grappling with a loss of sales, fewer customers, and laying off employees. This has devastating affects as many small businesses provide employment to local residents and offer products/services in communities often ignored by national retailers. Black-owned businesses, in particular, have felt the devastating effects of COVID-19 more severely and likely for a longer period of time.”
• Business must be established prior to March 16, 2019.
• Business must be in good standing.
• Annual Revenues of the business or nonprofit not to exceed $1.5 million as evidenced by Financial Statement or other financial documentation.
• Eligible uses include: working capital to support payroll expenses, rent, mortgage payments, utility expenses, technical assistance or other similar expenses that occur in the ordinary course of operations.
Grants will be distributed and administered through existing micro and small business lenders.