So far, the program has disbursed $8.5 million to 1,414 small businesses nationwide.
According to the chamber, the program gets much interest from women-owned businesses. The chamber reports 65% of its total grant recipients are women. The effort aligns with recent trends in Black business ownership, with Black women among the fastest-growing entrepreneurs.
“The pandemic played a role in this, prompting many to start their own businesses. Increase in the availability of programs such as CBBB also play a role, providing Black businesses with access to capital and other tools—such as coaching and mentorship—that enable their long-term growth,” the chamber shared with BLACK ENTERPRISE by email.
Kymme Williams-Davis, the owner of Bushwick-Grind, commented, “Being awarded this enhancement grant will have a major, tangible, and long-standing impact on the future of Bushwick Grind Cafe. For me, one of the real gems in the CBBB program is the education, networking, and toolset. As a small, local mom-pop shop, there are very few opportunities to have access to diverse industry leaders.”
She added, “The enhancement grant has also allowed me to implement growth strategies within key business verticals (café services, catering, CPG retail, and events.) I’ve been able to invest in a marketing plan, which will have a high ROI, and very importantly, I can now replace broken and outdated equipment in our service bar, enhancing the customer experience and further elevating the brand.”
Kenzel Fallen, co-founder of Three Keys Coffee, said, “The CBBB Program has enabled us to invest in the necessary equipment and staff to offer a best-in-class experience to our customers and further position us as a leader in the coffee industry. We have been named the Best Coffee Roaster in TX by Food & Wine and won numerous awards for our quality and commitment to excellence. Now, thanks to this enhancement grant, we are empowered to increase our scale and share our coffee with an even wider audience. We’re beyond excited!” See more comments on the program here.
Source: Black Enterprise