Capital One Donantes $10K to Accelerate Opportunities for Black-Owned Businesses and HBCUs
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Posted By: Kennedy Williams on February 21, 2022 Capital One is celebrating Black History Month by continuing its efforts to help elevate the Black community. Check out the company press release below to find out more about its new initiatives: Roughly 53% of Black-owned businesses saw a drop in revenue by at least half during the peak of the pandemic. To address the lack of access to capital and resources, Capital One is partnering with the Association for Enterprise Opportunity (AEO) to launch the Capital One Business grant program, which aims to support Black-owned businesses in building resilient futures. This program will award $10,000 grants to Black-owned businesses. In addition, all business owners can access free resources to help move their business forward through Capital One’s Business Hub, which features insights and actionable advice from real business owners. “The combination of preexisting systemic inequities and pandemic-related setbacks has created a uniquely challenging environment for Black business owners to navigate,” said Connie Evans, AEO President and CEO. “Our partnership with Capital One is vital to helping sustain the success of Black-owned businesses for the long term. And collaborative initiatives like the grant program can help create the on-ramp needed to tap into long-term equitable access to capital, digital tools and educational resources.” Additionally, as part of our ongoing support of Historically Black Colleges and Universities (HBCUs), Capital One donated its facility at the Wilmington Riverfront, valued at $4.7 million, to Delaware State University, Delaware’s only HBCU. The 35,000-square-foot facility will allow the university to expand its offerings in the heart of the state's metropolitan core, after nearly a decade of operating through its satellite campus on Kirkwood Highway. Capital One plans to host a special ribbon cutting and building tour to mark the return of the university to Wilmington and celebrate the broader partnership that will include expanded recruitment opportunities, specialty programs and first generation support. Our partnership with Delaware State University is a natural extension of our commitments to growing relationships, investment and campus presence at HBCUs. We also provided $1 million total grant funding to the Thurgood Marshall College Fund and the United Negro College Fund and have a three-year commitment to support Braven, a nonprofit organization dedicated to closing the education-to-employment gap in higher education. As we continue to strive towards an equitable pathway, there’s still awareness to be raised, policy to be changed and equality to be achieved. But when we come together as a community, our voices are more powerful, celebrations are more memorable and our impact more lasting. SOURCE: Capital One If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
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Kennedy Williams
From Loganville, GA Spelman College class of 2020 Member Since July 2016 |
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