has received the first grant by the . Funds are applied to critical issues in the Black community.
The BIG Equity Fund 鈥� the first permanent endowment of its kind in Greensboro 鈥� was established in 2019. A quarter million dollars was raised from Black donors early on, and the community-wide campaign is roughly halfway towards reaching its $3 million endowment goal. Current priorities include addressing the digital divide, wealth building, and health care 鈥� disparities laid bare by the pandemic. Another is small business development.
That鈥檚 the issue covered by Piedmont Business Capital鈥檚 grant proposal. They say some Black-owned companies in the Greensboro area are shut out of bidding on projects due to less working capital compared to bigger firms. Piedmont proposes a bonding assistance reimbursement program to cover fees. Additionally, it would provide coaching and financial literacy programs.
On Tuesday, the company received a $100,000 grant from the BIG Equity Fund 鈥� $50,000 a year over the next two years. The award coincides with Black Philanthropy Month, a global celebration and campaign for funding equity. The money will be overseen by .
