bake - September/October 2020 - 20

Advancing Black

entrepreneurs
A new program enlists
the help of many to
lift businesses.
BY JOHN UNREIN
The economic fallout from the COVID-19 pandemic has
been devastating for US small businesses, with many
experiencing dramatic declines in revenues and cash
liquidity following the government-mandated closures
that began in March. The effects of the economic
downturn have been especially severe for Blackowned businesses- many of which entered this crisis
undercapitalized.
As a step toward helping Black-owned businesses
recover and move forward, a coalition of four business advocacy groups - the National Minority Supplier
Development Council, US Black Chambers, National
Urban League and Black Enterprise - have partnered
with JPMorgan Chase to launch Advancing Black
Entrepreneurs by Chase for Business. Together with
Chase Business Banking, these organizations have developed an educational curriculum designed specifically
for eligible Black entrepreneurs on key topics that are
vital to business growth and sustainability.
Kamal Grant, owner of the Atlanta-based Sublime
Doughnuts and a Chase for Business client, shared his
insights about why it is critical for Black entrepreneurs
to have relationships with banks and the importance
of new programs like Advancing Black Entrepreneurs.
"I am excited to be a part of this program. It is a tough
environment for Black entrepreneurs, and it is great
to see Chase have this curriculum to develop the ins
and outs of a well-oiled business," Grant says. "Seeing
a program like this can help us address the important
sions. It's important to learn how to grow your wealth
and build on that."
Kamal Grant of Sublime Doughnuts sees a positive road ahead to
grow his bakery business.

JOHN UNREIN

issues and bring people together to have positive discus-

20 < SEP-OCT 2020 | bakemag.com

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bake - September/October 2020

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