Philadelphia, PA - It's no secret that Black Entrepreneurs have faced systemic barriers to success, including access to loans and capital, biased community perceptions, and gentrification issues.
The National Urban League's Black Restaurant Accelerator
The National Urban League and PepsiCo are looking to help with these challenges with the Black Restaurant Accelerator to help approximately 500 Black-owned businesses during the next five years.
The PepsiCo Foundation will provide a $10 million grant to help fund the program, that will provide current and aspiring Black restaurateurs with much-needed capital, training, mentorship, and other support services.
"This is a game-changing program that will provide Black restaurateurs with access to business-building resources tailored to meet their specific needs," said Marc H. Morial, President, and CEO, National Urban League. "Our understanding of the local business environment and community paired with subject matter expertise from PepsiCo team members will give business owners a leg up as they look to grow."
National Urban League will start accepting applications for the program starting in 2021. Black business owners, interested in learning more about Urban League Entrepreneurship Centers and other workforce development programs by visiting www.NUL.org.
The program is part of a $400 million commitment PepsiCo is making over the next five years to advance racial equality.
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