April 15th 2024.
Comcast RISE is making a generous offer to support the growth of small businesses. They are giving out grants of $5,000 each to 500 deserving small businesses in five regions. This adds up to a total of $2.5 million in funding that will be distributed among all eligible small businesses in Atlanta, Houston, Jacksonville, Florida, Richmond, Virginia, and southern Colorado. What's even better is that this opportunity is open to all small businesses, including Black-owned ones.
The grant packages will not only provide financial assistance but also offer valuable resources and support such as business consultation, educational materials, and a technology makeover. Starting from May 1 through May 31, interested businesses can find out more details about the application process by clicking here. This program, known as Comcast RISE, has been running for four years now and has already helped over 13,500 small businesses by awarding them a total of $125 million in monetary, marketing, and technology grants. With the new grants set to be announced in August 2024, the number of recipients is expected to reach 14,000 this year.
Loren Hudson, the Senior Vice President and Chief Diversity Officer at Comcast, recognizes the vital role that small businesses play in our economy and local communities. She states, "Small businesses are the backbone of our economy and are essential to building strong and thriving communities." She goes on to say, "Comcast RISE is proud to support and empower these small businesses and entrepreneurs in their expansion and growth."
One of the main challenges faced by small businesses, both emerging and established, is the lack of capital. This is especially true for Black entrepreneurs, with 76% of them reporting difficulties in accessing the necessary funds. Despite the recent growth of Black-owned businesses, a quarter of them still struggle to obtain the capital needed to support their ventures.
Grants, such as the ones offered by Comcast RISE, can be used for various purposes. They can help entrepreneurs launch a new business, expand an existing one, provide working capital, improve financial stability, and create job opportunities. Comcast RISE is committed to supporting the growth of all small businesses, regardless of their background. Initially launched in November 2020 to aid minority and women-owned businesses impacted by COVID-19, the program has now expanded to assist all small businesses and their communities in achieving economic growth.
Comcast RISE is a part of Project UP, which is Comcast's $1 billion pledge to promote digital equity through various programs and community partnerships. To learn more about what the grant package includes, please click here. This initiative is just one of the many ways that Comcast NBCUniversal is partnering with nonprofits to address issues faced by the Black and LGBTQIA+ communities.
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