The Small Business Economic Mobility Initiative is a 5-year plan to get more capital into the hands of U.S. small businesses, especially those owned by women, minorities and veterans. The first round of grants in 2015 totaled $13.6 million. The second round is now open, offering $8.8 million in new grants. The grants are awarded to national nonprofit organizations that provide both access to capital and finance education to underserved business owners.
How the grants help small business
Through Sam’s Club and the Sam’s Club Giving program, the philanthropic initiative will help small businesses in low- and moderate-income communities by:
- Making more loans to underserved small businesses, especially those owned by women, minorities and veterans
- Supporting more jobs in small business communities
- Providing more education to small business owners on responsible lending and better borrower practices
Sam’s Club is owned by Walmart Stores, Inc., a leading retailer offering membership and lower prices on superior products. The organization has millions of members and 652 clubs in the U.S. and Puerto Rico.
Read more at www.blackenterprise.com/small-business/sams-club-offers-8-8-million-new-grants-entrepreneurs/
