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The Greater Milwaukee Foundation donated $100,000 to the African American Chamber of Commerce of Wisconsin (the Chamber) to establish a COVID-19 Recovery Fund. This fund will provide recovery grants of up to $2,000 for small businesses in the community impacted by the pandemic.
“On behalf of the African American Chamber of Commerce of Wisconsin, I am grateful to the Greater Milwaukee Foundation for prioritizing the recovery of African American owned businesses as our community struggles to survive the pandemic and its aftermath,” Says Ossie Kendrix, Chamber President and CEO. “Many of our businesses have not been able to apply for or are still waiting for PPP or other federal assistance, so this Recovery Fund will be an infusion of desperately needed resources.”
Historically, African American small business owners have traditionally faced increased challenges such as smaller cash reserves and difficulty in securing business loans, and many are sole proprietors that are most likely ineligible for most (business) lending options. Federal and State support is valued, but alone is not enough to protect jobs, preserve businesses, and to provide the sense of community we’ve grown accustomed to being for one another.
The Chamber hopes to raise an additional $100,000 for the fund in order to help more community businesses.
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In order to provide true relief, African American owned small businesses need grant assistance to offset the wealth that has been denied by this pandemic, coupled with anti-Black policies that have made accessing capital an anomaly.
In the Greater Milwaukee area, the hardest hit sectors are travel and hospitality industries, along with the retail sector. Through the establishment of the COVID-19 Recovery Fund the Chamber will provide support to African American owned for-profit small businesses and sole proprietorships in food and beverage services, personal care services, and retail trades.
Thanks to the generous donation from the Greater Milwaukee Foundation, the Chamber is working to grow the recovery fund to over $200,000. Community members, businesses, and/or organizations can contribute to the Recovery Fund, by making a secured contribution here.
