The PepsiCo Foundation and the National Urban League have chosen the first grant recipients of their Black Restaurant Accelerator Program, a joint $10 million initiative that will provide 500 Black restaurant owners in 12 cities capital, technical assistance, and mentorship services over the next five years.
The first grantees include:
• Victoria's Kitchen & Catering Soul Food Restaurant in Philadelphia
• Takoma Station Tavern and Wingery in Washington, D.C.
• Beaucoup Eats, Taste & See and Addis NOLA in New Orleans
• Odom's Kitchen Catering in Baton Rouge, Louisiana
• Local Green Atlanta and Slutty Vegan in Atlanta
• Taste-T-Love Baby Food, Rich Taste Catering Service and De'Lish LLC in Dayton, Ohio
• Southern Grace Cincy Catering LLC in Cincinnati
• Chef's of the Streets in Laurel, Maryland
"As the pandemic exposed existing disparities many minority business owners face, we saw a fundamental threat that could erase the decades of progress Black-owned restaurants have made. This investment will help Black restaurateurs not only recover from the pandemic but set them on a path to long-term economic resilience," said C.D. Glin, vice president, global head of philanthropy at The PepsiCo Foundation, in a statement. "We are inspired by the progress we are making through our collaboration with the National Urban League to address a fundamental gap and create opportunities for Black-business owners to build generational wealth and continue to strengthen their communities."
Black business owners have been particularly vulnerable since the pandemic, as 41 percent of Black-owned businesses have shuttered since February 2020 compared to just 17 percent of white-owned businesses, according to the PepsiCo Foundation.
"Black businesses and consumers are among the key contributors to the economic strength of our nation, and they deserve equal recognition and support for the vital role they play in our communities," said Marc H. Morial, president & CEO of the National Urban League, in a statement. "We are proud to partner with The PepsiCo Foundation on a matter of crucial importance that helps business owners and addresses one of the critical economic disparities impacting Black communities."
Related: Instacart Supports Black-Owned Brands; Retail Therapy: Fostering Diversity, Equity, and Inclusion.
Image: PepsiCo