By: The Executive Tea Staff

With the current climate of the country, many celebrities have been stepping up to the plate to support and promote Black-owned businesses. Last month, Beyoncé rolled out a Black-owned business directory as part of her BeyGood foundation’s ‘Black Parade’ initiative to support Black-owned businesses. Now, BeyGood and the NAACP have launched a partnership to provide grants for Black businesses impacted by COVID-19.

According to The New York Times, minority-owned businesses have been largely neglected by the Paycheck Protection Program with just 12% of Black and Latinx businesses receiving federal loans. “Over the last couple of months, the pandemic and outpours for justice throughout the Black community and across the country has been felt in every imaginable area of our lives, including in how our local businesses continue to operate,” NAACP and BeyGood stated in a joint press release. “The challenges of Black business owners navigating in the climate cannot be understated, as the effects of uprisings across the nation have led to many businesses being placed in dire straits due to damages and other small business needs.”

The grants will each be valued at $10,000, and folks in Houston, Atlanta, New York, Los Angeles, and Minneapolis will be eligible to qualify.

Where do I apply?

Here’s the direct link to apply: https://form.jotform.com/201894756297168.

When do you have to submit it by?

Application submissions will be taken from July 9th-July 18th. The applications will be reviewed during the period of July 20th-29th.

When will I know if I received the loan?

Applicants will be notified by July 31st. The recipients will be announced on Bey’s website. July 31st is also the release date for Bey’s visual album “Black is King” on Disney, so who knows if there will be a special rollout in the works!