OAKLAND, Calif., Sept. 28, 2021 /PRNewswire/ -- Today, Oakland Black Business Fund (OBBF) announced that it has been selected as an inaugural recipient of a Community Grant from Michael Jordan and the Jordan Brand as part of its Black Community Commitment Grant Program. The funding will be used to further support OBBF's unique approach to building peer-to-peer relationships between Black business owners, Black technical assistance providers, and tech companies, offering a sustainable growth model for under-funded businesses in the Bay Area.
"We received hundreds of applications for Community Grants, and every single one of them was a reminder of the unique impact and powerful personal connections local community efforts can make happen. Making a decision on the first cycle of 18 organizations selected was certainly not easy." said Craig Williams, President, Jordan Brand, "We are thrilled to not only stand behind them, but based on the volume of applications received, we look forward to continuing to offer this program each year in support of local grassroots efforts that create real, meaningful change for people and communities."
"OBBF has had the opportunity to partner with some of the country's leading companies and financial institutions to support Black entrepreneurs in the Bay Area while addressing systemic biases that perpetuate the funding gap for Black businesses," said OBBF Co-Founder Trevor Parham. "We are grateful to the Jordan Brand for their support as we continue to cultivate a resilient and sustainable ecosystem of local Black businesses based on a proven model that improves neighborhoods, creates jobs, builds wealth, and provides strong and meaningful financial returns to our communities."
OBBF is the only Black-led fund providing business grants and larger investments that address the historical lack of access to capital and control of real estate. The fund supports a broad array of businesses and nonprofits with a focus on scaling its city-specific model to other municipalities across the country.
Businesses interested in receiving capital or technical support can apply directly at www.oaklandblackbusinessfund.org/apply. Investors or organizations interested in contributing to OBBF can contact email@example.com for more information on partnership opportunities.
About the Jordan Brand Black Community Commitment
Michael Jordan and the Jordan Brand are committed to leading sustainable and impactful change to end systemic racism for the Black Community.
Through the 10-year, $100 million Black Community Commitment, Michael Jordan and the Jordan Brand identified three main focus areas that are critical to improving outcomes for Black Americans in the following areas: Social Justice, Education & Awareness and Economic Justice.
The Community Grants program provides micro-funding grant awards to grassroots non-profit organizations with a total operating budget under $3 Million with proven track records of success and demonstrated paths to sustainable change.
About Oakland Black Business Fund
Oakland Black Business Fund redefines capital deployment systems to create possibilities for Black economic growth that defy the confines of systemic racism. The fund supports Black businesses with capital and technical assistance to elevate Black entrepreneurs as thriving leaders in the local economy.
Oakland Black Business Fund offers opportunities for tax-deductible donations through its 501(c)(3) fiscal sponsor, Alliance for Community Development, whose mission is to increase access to capital and support for local, underrepresented entrepreneurs. Follow OBBF on Twitter, LinkedIn, Facebook, and Instagram. More information available at www.oaklandblackbusinessfund.com.
SOURCE Oakland Black Business Fund
These press releases may also interest you