SCCC wins $ 500,000 grant to help small minority companies rebound from COVID

Suffolk County Community College has received a $ 500,000 grant to help small businesses owned by members of the minority group recover from a pandemic, officials said Wednesday.

The University Entrepreneurship Center is one of 50 groups nationwide sharing $ 25 million from the banking giant Citigroup.

The grant is to provide technical assistance to SMEs in Saffolk County owned by people of color who have been disproportionately affected by the unprecedented health, social and economic impact of the COVID-19 pandemic. We support the ongoing efforts of the center, “said the center. Director, Daphne Gordon.

She said the grant will be used to teach minority entrepreneurs to “enable lasting business and problem-solving skills.” [them] To manage and grow your business successfully and produce tangible results. “

The university foundation applied for a grant from Citigroup earlier this year in response to a request for proposal.

Brandy McHale, head of community investment and development at the bank and chairman of the Citi Foundation, said it was responding to the devastating impact of the pandemic on minority-owned businesses.

According to the National Bureau of Economic Research in Cambridge, Massachusetts, black-owned businesses have been closed more than twice as often as white-owned businesses in the past year, best known for economic expansion and recession tracking. increase.

The bureau also found that black-owned companies had the largest drop in sales during the pandemic.

“By providing these [small business assistance centers] The Citi Foundation provides the flexible support needed to facilitate their work and helps restore and rebuild stronger and more equitable communities across the United States, “McHale said Wednesday.

Citi’s grants will be made after the SCCC’s Brentwood Campus-based center has been selected as the best of the state’s 24 entrepreneurship centers in 2018 and 2019. Other EACs on Long Island are located at Hofstra University.

Of the other recipients, only the Business Outreach Center Network, based in New York City and Newark, NJ, is associated with the island.

The BOC Network provides virtual workshops, counseling sessions and helps access capital to minority-owned businesses in the city and Nassau and Suffolk counties.

Thirteen organizations in New York have each received a Citi grant for $ 500,000. Only California had more winners.

SCCC wins $ 500,000 grant to help small minority companies rebound from COVID

Source link SCCC wins $ 500,000 grant to help small minority companies rebound from COVID

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