DETROIT – Comcast has created a program aimed specifically at minority-owned small businesses.
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Starting a small business as a Black woman is an uphill battle, according to studies done by CNBC and American Express. The studies found that while Black women are starting more businesses than men or other ethnic groups, they are less likely to get funding.
Comcast said it saw the disparities in funding and last fall created the RISE Investment Grant program. The program is specifically for Black, indigenous and people of color who own businesses in Detroit, Highland Park or Hamtramck.
“We know businesses have been hit hard,” Rob Ponto with Comcast said. “Small businesses that are in need.”
The first round of funding was offered last fall. Applications for another round of grants is open until May 7.