Comcast offers small businesses $ 1 million in grants | Business

After the pandemic hit and Chanda Anderson needed to shut her hair salon for 4 months, she began making use of for grant funding from numerous organizations.

She was the recipient of a 2021 grant from the Comcast RISE Funding Fund. The initiative supplies grant funding to small companies owned by individuals of colour together with Black, Indigenous, Hispanic and Asian American homeowners, and ladies.

“I used to be very grateful that that they had this chance for a enterprise like mine,” stated Anderson, who owns Chanda’s Hair Studio and Uptown Hair Studio in Cedarbrook.

“I used to be very pleased as a result of it helped my enterprise tremendously. It helped me with my payments. I used to be behind as a result of being a hair stylist for those who’re not in right here earning money then you do not have not cash to pay the payments,” she stated.

“It additionally helped me flourish my enterprise by buying hair to promote to the shoppers to generate extra income,” Anderson continued.

This week marked Comcast’s announcement of the newest spherical of grant funding. The Comcast RISE Funding Fund will present $ 1 million in grants to assist Philadelphia small companies hardest hit by the pandemic.

“Whereas we all know that no single group can remedy historic and systemic inequities in a single day, we’re dedicated to taking tangible actions that may drive long-term impression and alter,” Dennis Mathew, senior vice chairman, Comcast’s Freedom Area stated in a information launch.

“Comcast RISE and the Comcast RISE Funding Fund supply the chance for small companies owned by individuals of colour and ladies to assist develop their companies, create jobs and play a significant position in supporting our communities. This new spherical of Comcast RISE grants will present extra entrepreneurs with the sources and instruments they should scale their companies and thrive for years to come back.

From June 1 to June 14, eligible companies in Atlanta, Detroit, Pittsburgh, Philadelphia and the Twin Cities (Minneapolis-St. Paul, Minn.) Can apply for a $ 10,000 grant at www.comcastrise.com. A complete of 100 grants per metropolis, or 500 grants general, will likely be introduced and awarded in July.

The Funding Fund is an extension of Comcast RISE, the multiyear, multifaceted initiative launched in October 2020 to assist small companies and supply the sources and instruments they want as we speak and sooner or later. RISE stands for “Illustration, Funding, Power and Empowerment.” This newest funding brings the whole to $ 16 million in grants awarded as a part of the Comcast RISE Funding Fund initiative.

As a part of the preliminary Comcast RISE Funding Fund program, the corporate beforehand awarded $ 1 million in April of final yr to 100 small Black-owned companies in Philadelphia and Chester.

“The consequences of the pandemic proceed to create challenges for our small companies,” Metropolis Councilmember Cherelle L. Parker stated in a information launch. “This second infusion of funding grants, coupled with the a whole bunch of selling and know-how packages awarded in our metropolis and the extra coaching and assist offered by RISE, will assist these companies as they get better and rebuild to emerge from this disaster stronger than ever. ”

To assist drive consciousness about spherical three of this system and supply further assist, coaching, and mentorship, Comcast has additionally awarded assist to the next native non-profits: African-American Chamber of Commerce of PA, NJ & DE, Asian American Chamber of Commerce of Larger Philadelphia, Larger Philadelphia Hispanic Chamber of Commerce, Independence Enterprise Alliance, The Enterprise Heart and the Philadelphia Affiliation of Group Improvement Firms.

Comcast RISE can be investing in ongoing mentorship and sources to assist companies succeed over the long-term. This system has partnered with Ureeka, a web-based platform for entrepreneurs, to supply grant recipients with enterprise teaching to assist construct expertise in firm basis, rising clients and monetary stability.

“Ureeka is proud to accomplice with Comcast RISE to develop small companies nationwide with teaching and digital companies,” stated Melissa Bradley, co-founder of Ureeka. entrepreneurs. The extra teaching and digital sources that these companies obtain, along with potential financial funding, will assist these companies achieve helpful expertise and alternatives that may assist them transfer from survive to thrive. ”

Comcast RISE has additionally awarded almost 500 advertising and marketing and know-how packages to small companies in Philadelphia owned by individuals of colour and ladies. Thus far, greater than 8,000 Comcast RISE awardees have been introduced.

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