Seattle Black-owned businesses to get financial relief
Black-owned businesses in the area may be eligible for some financial help from a local business group.
Tabor 100, a group dedicated to supporting and helping minority-owned businesses in the state of Washington, has announced a special grant program. The program was developed because studies indicate that many Black-owned businesses are not getting the help they need from federal and state relief programs.
The idea has already gained support. Amazon, Facebook, Vulcan, the City of Seattle, and Puget Sound Energy have already given Tabor 100 $1.3m for the program. The group still wants to raise another $3.2m.
Recent data has shown that minority and especially Black-owned small businesses have received less pandemic aid than other businesses. The Center for Responsible Lending says that there are several factors for the discrepancy, including that some minority business owners do not have any connections with banks.
Tabor 100 was founded in 1998 by a group of business owners who felt that small business was an important factor in economic development for minorities. The group was named after Langston Tabor, who founded Tabor Electrical, a multimillion-dollar business that also prioritized mentoring young people to lift them out of poverty.
Businesses that receive grants such as this one can direct the money for staffing, new equipment, or increased marketing, which may include printing services.
Tabor 100 has not indicated how much the grants will be or how the businesses will be selected.
Tabor 100, a group dedicated to supporting and helping minority-owned businesses in the state of Washington, has announced a special grant program. The program was developed because studies indicate that many Black-owned businesses are not getting the help they need from federal and state relief programs.
The idea has already gained support. Amazon, Facebook, Vulcan, the City of Seattle, and Puget Sound Energy have already given Tabor 100 $1.3m for the program. The group still wants to raise another $3.2m.
Recent data has shown that minority and especially Black-owned small businesses have received less pandemic aid than other businesses. The Center for Responsible Lending says that there are several factors for the discrepancy, including that some minority business owners do not have any connections with banks.
Tabor 100 was founded in 1998 by a group of business owners who felt that small business was an important factor in economic development for minorities. The group was named after Langston Tabor, who founded Tabor Electrical, a multimillion-dollar business that also prioritized mentoring young people to lift them out of poverty.
Businesses that receive grants such as this one can direct the money for staffing, new equipment, or increased marketing, which may include printing services.
Tabor 100 has not indicated how much the grants will be or how the businesses will be selected.