The Black Restaurant Accelerator, a partnered effort of the PepsiCo Foundation and the National Urban League recently awarded its 100th grant.
The restaurateurs have used the $10,000 grants to save jobs and hire staff, expand their locations, and grow their business through the purchase of delivery vehicles, kitchen equipment, COVID regulations equipment, and more.
In addition to the 100 restaurants that have received a grant, 400 additional black-owned establishments were provided support via the BRA with counseling and training sessions, financing and contract opportunities, and the creation of new business ventures, according to a statement by PepsiCo.
"Black-owned businesses are the beating heart of our communities. We've supported small businesses for decades and watched how they create jobs, inspire new enterprises, and establish legacies for generations," said Marc H. Morial, president & CEO of National Urban League, in a statement. "While the pandemic has deepened disparities that hinder our communities, the impact of this program is a testament to the resilience we can foster when we provide the right support. And we need other members of the business community and policymakers to step up, join us and act with urgency to ensure these entrepreneurs have equitable access to critical resources."
PepsiCo’s investment in black-owned restaurants is a part of its Racial Equality Journey, which focuses on uplifting marginalized groups in the following areas: people, business, and communities.
Related: Champions of Change Winners Announced; Midwest to be Focus of Meijer’s Localization Summit