A local community-empowerment organization is stepping in where the federal and state governments failed: to help black-owned businesses recover from the Covid-19 pandemic.
The organization, the Connecticut Center for Arts and Technology (ConnCAT), Wednesday launched an Economic Justice Fund. It is looking to raise $5 million to offer grants to struggling black-owned small businesses.
The federal government was supposed to do that for all small businesses through the Payroll Protection Program and through small business loans, some funneled through the state. As in other communities across the country, black-owned businesses in New Haven received next to none of that money.
“Right now our commitment has to be bold and swift,” ConnCAT CEO Erik Clemons stated in a release.
“Without significant support from major donors, the impact of racism and poverty may be irrevocably worsened during pandemic recovery efforts. We know that race and zip code have been determinants of individual and family success for far too long. That’s why we’re committed to investing in direct aid as well as systems-change to ensure long term success and self-sufficiency for those who need it most.”
“We’re investing in the long game of sustainable wealth generation because our community deserves any support we can offer,” Clemons said.
Click here to donate to the fund, which will also support homeowners looking to buy in the Dixwell and Newhallville neighborhoods.
While the initial tranche of PPP funding went quickly, the second tranche was undersubscribed. Honest businessmen should be able to access it, especially now that the tax deadline is nearing and everyone should have their 2019 schedule Cs in order.