Small business grants now available in Atlanta

The Atlanta Wealth Building Initiative has released a second round of grants available for small businesses, according to a press release.

A Brookings and Gallup analysis shows that Black people represent 12.7% of the U. S. population but only 4.3% of the nation’s 22.2 million business owners.

In 2020, the general community is learning about the hurdles Black people face to start and grow their businesses — as it’s harder to get loans, more challenging to get investors and harder to access credit.

Nearly half of Black- owned small businesses closed as the pandemic ravaged minorit y communities disproportionately. Reports have shown that only 20% of the Paycheck Protection Program loans went to areas with the highest concentration of Black- owned businesses. With no additional federal relief package proposed, Black business owners are seeking other avenues of support.

The Atlanta Wealth Building Initiative’s COVID- 19 Small Business Relief Fund is now offffffffffffering a second round of zero- interest $ 10,000 loans to small businesses in Southwest, Southeast and Northwest Atlanta impacted by the pandemic.

Applications open on Monday and the deadline to apply is Dec. 2.

Preference will be given to Blackowned businesses located in Southwest, Southeast and Northwest Atlanta and/ or along the Atlanta Beltline overlay (. 5 miles).

Businesses must meet the following criteria:

■ Have been established before March 16, 2019.

■ Be in good standing with the IRS and Georgia Secretary of State.

■ Have annual revenues below $ 1.5 million as evidenced by a fifinancial statement or other fifinancial documentation.

Information: https:// www. atlantawealthbuilding. org/