The Advancing Black Businesses Foundation (ABBF) has been awarded a $725,000 Small Business Revitalization (SBR) Grant, marking a significant milestone in its ongoing efforts to support small businesses—particularly those in Black and historically under-resourced communities—still recovering from the long-term economic impacts of the COVID-19 pandemic.
The SBR grant was awarded through the Georgia Coalition of Black Chambers (GCBC), which received $2.1 million in funding from the Office of Brian Kemp through the American Rescue Plan Act (ARPA). These federal ARPA funds were designated to provide targeted economic relief and recovery support for small businesses across Georgia.
ABBF’s award reflects strong alignment with the program’s objectives and confidence in the Foundation’s capacity to responsibly administer and deploy resources that stabilize small businesses, preserve jobs, and foster long-term, equitable economic growth.
Addressing Ongoing Barriers to Recovery
While Georgia’s small business community has demonstrated remarkable resilience, many enterprises—particularly those in Black and historically under-resourced communities—continue to face persistent challenges. Inflation, supply-chain disruptions, reduced consumer spending, and limited access to capital have slowed full recovery for countless small businesses.
In response, ABBF has developed a comprehensive Program Management Plan focused on supporting businesses located in Georgia’s District 3, with an emphasis on stability, sustainability, and long-term growth. The initiative is designed not only to provide immediate relief, but also to strengthen the operational foundation of participating businesses.
Program Structure and Core Pillars
The Small Business Revitalization Grant Program is anchored by three core pillars:
-
Technical Assistance
Strengthening business knowledge, compliance, and operational readiness to support long-term success. -
Capital Support
Providing critical funding to eligible small businesses, with individual grants of $5,000 or more. -
Incubators and Accelerators
Supporting growth among underserved and emerging entrepreneurs through structured development opportunities.
A key component of the program is the integration of the Money Smart for Small Business curriculum, developed by the FDIC and the U.S. Small Business Administration. This nationally recognized, instructor-led program will be incorporated into mandatory orientation sessions for grant recipients to promote sound financial management, accountability, and responsible use of funds.
Program Timeline and Next Steps
The Small Business Revitalization Grant Program is scheduled to launch in February and run through May, with additional details to be announced in the coming weeks. ABBF will share application information, eligibility criteria, and participation requirements as the program rollout progresses.
About Advancing Black Businesses Foundation
The Advancing Black Businesses Foundation (ABBF) is a 501(c)(3) nonprofit organization dedicated to fostering partnerships with the Atlanta Black Chambers (ABC) and other Black Chambers across Georgia. ABBF’s mission is to educate Black business owners and consumers on effective strategies for collaboration, economic empowerment, and sustainable growth. Through education, advocacy, and resource sharing, ABBF works to drive long-term economic equity and opportunity within the Black community.
Recent Comments