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Find similar grantsThe Business Equity Fund is sponsored by The Boston Foundation. The Business Equity Fund targets minority-owned companies with over $250,000 in annual revenue in Eastern Massachusetts, Southern New Hampshire, and Northern Rhode Island.
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Business Equity Fund - TBF To create a thriving Black, Latinx and AAPI entrepreneurial class that created opportunity and wealth for their communities, we must fill the gaps in access to growth capital for Black-, Latinx-, and AAPI-owned businesses.
The Business Equity Fund at the Boston Foundation is designed to address longstanding barriers to growth financing and technical assistance that have historically limited opportunity for entrepreneurs of color. The Fund was created in 2018 as a core component of an ecosystem to grow enterprises of color in greater Boston.
That ecosystem includes the Foundation for Business Equity’s Business Equity Initiative (BEI) program, the Greater Boston Chamber of Commerce’s Pacesetters Initiative, which encourages its members to work with minority-owned businesses, and the Fund. Together, they provide capacity, capital and contracts to Black, Latinx, and AAPI businesses to help them grow.
To date, through a competitive application process, seven businesses have received a combined total of $2. 3 million in low-cost loans. The BEF has also unlocked an additional $2.
8 million of more traditional capital to support another eight businesses, bringing total leveraged dollars to $5. 1 million. As an evergreen loan fund, loan repayments will be returned to the Fund to be recycled into new financing and equity investments in other businesses.
The Business Equity Fund is currently actively seeking grants and contribution funding from foundations, government entities and others to broaden the pool of capital available for investment in qualified businesses.
In The Business Equity Fund's latest Impact Report , we are pleased to share how we have been meeting BEF's goal despite the many additional challenges posed by the pandemic, detailing what we do, our growth and impact, business financing structure, COVID-19 impact and response, and research and advocacy work.
Anthony Samuels, Founder of DRB Building Services Read: TBF News: Investing in Enterprises of Color The Business Equity Fund is specifically targeted to minority-owned companies with over $250,000 in annual revenue in Eastern Massachusetts, Southern New Hampshire and Northern Rhode Island, for whom a loan or equity investment of $300,000 to $500,000 would create jobs or expand operations.
Loan applicants are rigorously screened by the fund managers and the BEF Investment Committee to select those businesses most able to leverage a loan or equity investment into positive outcomes. Recipients also receive ongoing support and oversight in partnership with the Business Equity Initiative.
Fund decision makers are predominantly people of color, many of whom have experienced the problem the fund is trying to solve first hand as entrepreneurs, investors, and community advocates. Interested companies may reach out to the Boston Foundation for more information. Together, our work will result in growing companies that create new local jobs, increase wealth creation, and foster community development.
Donating to the Business Equity Fund The Business Equity Fund continues to grow its capital resources in support of Black-, Latinx-, and AAPI-led businesses. Individual donors can donate by credit card through the form below. Institutional and other donors can contact Orlando Watkins to learn more about ways to support the fund.
Business Equity Fund related items A new report released at the Boston Foundation lays out the needed changes to create a strong ecosystem for entrepreneurs of color, and tracks the racial entrepreneurship gap in Massachusetts.
Boston Indicators and the Foundation's Economic Inclusion team, in partnership with the Coalition for an Equitable Economy, explore the many elements feeding into the troubling lack of access to capital for entrepreneurs and business owners of color - and the local policy solutions that could close the gap.
The Business Equity Fund's 2020 Investment Report provides a closer look at the Fund and its workings, and the remarkable entrepreneurs partnering with BEF to expand, create jobs and strengthen communities.
According to the current listing, eligibility includes: Minority-owned companies with over $250,000 in annual revenue in Eastern Massachusetts, Southern New Hampshire, and Northern Rhode Island. Confirm the full requirements in the official notice before applying.
The current listing shows $300,000 to $500,000 (loan or equity investment). Verify award ceilings, matching requirements, and allowable costs in the official notice.
The Business Equity Fund is funded by The Boston Foundation. Verify program details on the funder's official page before applying.
This opportunity targets applicants in Massachusetts, New Hampshire, and Rhode Island. Check the official notice for exact location requirements.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
GSK IMPACT Awards is sponsored by GSK (administered with The Boston Foundation and The Philanthropic Initiative). The GSK IMPACT Awards honor up to 10 local nonprofit organizations with $50,000 in unrestricted funding for excellence in community health. While not exclusively leadership development, strong community organizations often demonstrate leadership in addressing health disparities.
GRAD Last Mile Fund is sponsored by The Boston Foundation (in partnership with the Frieze family and the City of Boston). The Graduate Ready to Achieve Degree (GRAD) Last Mile Fund is an innovative grant program that helps college students in Massachusetts overcome unexpected financial barriers in their final stretch toward graduation.